Bel Fuse Inc. (NASDAQ:BELFB) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in Bel Fuse Inc. (NASDAQ:BELFB) by 54.0% during the third quarter, Holdings Channel.com reports. The firm owned 3,973 shares of the electronics maker’s stock after selling 4,658 shares during the period. Principal Financial Group Inc.’s holdings in Bel Fuse were worth $312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its holdings in shares of Bel Fuse by 2.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 41,059 shares of the electronics maker’s stock valued at $3,224,000 after buying an additional 1,029 shares during the period. Roubaix Capital LLC increased its holdings in shares of Bel Fuse by 16.4% in the 3rd quarter. Roubaix Capital LLC now owns 64,399 shares of the electronics maker’s stock valued at $5,056,000 after acquiring an additional 9,069 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Bel Fuse by 168.0% in the 3rd quarter. Pinnacle Associates Ltd. now owns 36,680 shares of the electronics maker’s stock valued at $2,880,000 after acquiring an additional 22,995 shares during the last quarter. Tectonic Advisors LLC grew its stake in Bel Fuse by 80.7% during the 3rd quarter. Tectonic Advisors LLC now owns 17,742 shares of the electronics maker’s stock worth $1,393,000 after buying an additional 7,922 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in Bel Fuse during the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 58.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com cut Bel Fuse from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 2nd. Northland Capmk upgraded Bel Fuse from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 5th. Northland Securities boosted their price target on Bel Fuse from $80.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Needham & Company LLC upped their target price on Bel Fuse from $79.00 to $95.00 and gave the company a “buy” rating in a report on Monday, November 18th.

Insider Buying and Selling at Bel Fuse

In other news, insider Stephen Dawson sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $77.65, for a total transaction of $116,475.00. Following the completion of the sale, the insider now owns 14,832 shares of the company’s stock, valued at approximately $1,151,704.80. This trade represents a 9.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 5.37% of the company’s stock.

Bel Fuse Price Performance

BELFB opened at $79.41 on Monday. Bel Fuse Inc. has a 12-month low of $45.74 and a 12-month high of $85.91. The company has a quick ratio of 2.71, a current ratio of 4.00 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $996.60 million, a P/E ratio of 18.21 and a beta of 1.35. The stock has a fifty day moving average of $78.57 and a 200-day moving average of $70.45.

Bel Fuse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.35%. The ex-dividend date is Wednesday, January 15th. Bel Fuse’s payout ratio is 6.42%.

Bel Fuse Profile

Bel Fuse Inc designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits. The company’s products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.