Phocas Financial Corp. Makes New $3.92 Million Investment in Bel Fuse Inc. $BELFB

Phocas Financial Corp. acquired a new stake in Bel Fuse Inc. (NASDAQ:BELFB) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 23,091 shares of the electronics maker’s stock, valued at approximately $3,917,000.

Several other large investors have also recently made changes to their positions in the business. Wasatch Advisors LP increased its position in shares of Bel Fuse by 33.6% during the 2nd quarter. Wasatch Advisors LP now owns 284,014 shares of the electronics maker’s stock valued at $27,745,000 after purchasing an additional 71,390 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Bel Fuse by 66.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 245,248 shares of the electronics maker’s stock worth $34,584,000 after buying an additional 98,178 shares during the last quarter. Invesco Ltd. grew its position in Bel Fuse by 27.1% during the third quarter. Invesco Ltd. now owns 174,583 shares of the electronics maker’s stock valued at $24,620,000 after buying an additional 37,175 shares during the period. Portolan Capital Management LLC grew its position in Bel Fuse by 97.9% during the third quarter. Portolan Capital Management LLC now owns 123,766 shares of the electronics maker’s stock valued at $17,453,000 after buying an additional 61,240 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Bel Fuse during the third quarter worth about $14,537,000. 58.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Zacks Research cut shares of Bel Fuse from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 2nd. Weiss Ratings lowered shares of Bel Fuse from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, February 25th. Needham & Company LLC lifted their price target on shares of Bel Fuse from $212.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Northland Securities set a $266.00 price objective on Bel Fuse in a research note on Thursday, February 19th. Finally, Wall Street Zen lowered Bel Fuse from a “buy” rating to a “hold” rating in a report on Monday, March 16th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $216.50.

Insider Buying and Selling

In other Bel Fuse news, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $234.00, for a total transaction of $7,948,278.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter E. Gilbert sold 4,500 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $238.75, for a total transaction of $1,074,375.00. Following the sale, the director directly owned 15,047 shares in the company, valued at $3,592,471.25. The trade was a 23.02% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 5.37% of the company’s stock.

Bel Fuse Price Performance

NASDAQ BELFB opened at $204.65 on Monday. The company has a quick ratio of 1.71, a current ratio of 3.02 and a debt-to-equity ratio of 0.46. The company has a market cap of $2.59 billion, a PE ratio of 41.68, a price-to-earnings-growth ratio of 2.08 and a beta of 1.56. Bel Fuse Inc. has a 52 week low of $57.99 and a 52 week high of $248.61. The firm’s 50-day simple moving average is $214.72 and its two-hundred day simple moving average is $180.16.

Bel Fuse Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Wednesday, April 15th. Bel Fuse’s dividend payout ratio is presently 5.70%.

Bel Fuse Company Profile

Bel Fuse Inc is a global manufacturer of electronic components that bridge power, data and video applications. The company offers a comprehensive portfolio of products, including board-level circuit protection devices such as fuses, positive temperature coefficient (PTC) resistors and inductors; power transformers, modules and supplies; as well as connectivity solutions encompassing USB, HDMI, RJ45, coaxial and fiber-optic connectors. These products serve a wide array of end markets, including telecommunications, data communications, consumer electronics, industrial automation, automotive and renewable energy.

Founded in 1949 and headquartered in Oradell, New Jersey, Bel Fuse has grown through organic expansion and strategic acquisitions.