Allspring Global Investments Holdings LLC Buys 94,796 Shares of Bel Fuse Inc. $BELFB

Allspring Global Investments Holdings LLC boosted its stake in Bel Fuse Inc. (NASDAQ:BELFB) by 364,600.0% during the 1st quarter, Holdings Channel reports. The firm owned 94,822 shares of the electronics maker’s stock after buying an additional 94,796 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Bel Fuse were worth $19,253,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BELFB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Bel Fuse by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,127 shares of the electronics maker’s stock valued at $459,000 after purchasing an additional 240 shares in the last quarter. JPMorgan Chase & Co. grew its position in Bel Fuse by 1.2% in the second quarter. JPMorgan Chase & Co. now owns 9,939 shares of the electronics maker’s stock worth $971,000 after acquiring an additional 116 shares in the last quarter. Rhumbline Advisers increased its stake in Bel Fuse by 2.5% during the second quarter. Rhumbline Advisers now owns 15,972 shares of the electronics maker’s stock worth $1,560,000 after acquiring an additional 383 shares during the last quarter. Sei Investments Co. bought a new stake in Bel Fuse during the second quarter worth approximately $312,000. Finally, The Manufacturers Life Insurance Company raised its position in Bel Fuse by 9.3% during the second quarter. The Manufacturers Life Insurance Company now owns 3,953 shares of the electronics maker’s stock valued at $386,000 after purchasing an additional 337 shares during the period. Institutional investors own 58.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BELFB. Citigroup started coverage on Bel Fuse in a research note on Monday, July 13th. They issued a “buy” rating for the company. JPMorgan Chase & Co. began coverage on Bel Fuse in a research report on Wednesday, June 10th. They set an “overweight” rating and a $370.00 target price on the stock. Bank of America started coverage on Bel Fuse in a report on Tuesday, July 14th. They set a “buy” rating and a $330.00 price target on the stock. Needham & Company LLC lifted their price objective on shares of Bel Fuse from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Northland Securities set a $321.00 price objective on shares of Bel Fuse in a research report on Monday, May 4th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Bel Fuse presently has an average rating of “Moderate Buy” and an average price target of $321.50.

Bel Fuse Trading Up 5.8%

Shares of NASDAQ BELFB opened at $281.51 on Wednesday. Bel Fuse Inc. has a fifty-two week low of $102.68 and a fifty-two week high of $335.29. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.73 and a current ratio of 3.18. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 64.13, a PEG ratio of 2.76 and a beta of 1.68. The business’s 50 day moving average price is $279.43 and its 200-day moving average price is $242.12.

Bel Fuse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.1%. Bel Fuse’s dividend payout ratio (DPR) is presently 6.38%.

Bel Fuse 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.