Bel Fuse Inc. (NASDAQ:BELFB) Shares Sold by Perritt Capital Management Inc

Perritt Capital Management Inc cut its stake in Bel Fuse Inc. (NASDAQ:BELFB) by 29.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,430 shares of the electronics maker’s stock after selling 9,064 shares during the period. Bel Fuse accounts for approximately 0.8% of Perritt Capital Management Inc’s investment portfolio, making the stock its 22nd largest holding. Perritt Capital Management Inc owned 0.17% of Bel Fuse worth $1,398,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Beach Investment Counsel Inc. PA bought a new position in Bel Fuse in the 2nd quarter worth approximately $25,000. Comerica Bank grew its stake in shares of Bel Fuse by 223.7% in the first quarter. Comerica Bank now owns 738 shares of the electronics maker’s stock worth $45,000 after purchasing an additional 510 shares in the last quarter. New York State Teachers Retirement System increased its holdings in shares of Bel Fuse by 373.5% during the first quarter. New York State Teachers Retirement System now owns 947 shares of the electronics maker’s stock valued at $57,000 after purchasing an additional 747 shares during the period. National Bank of Canada FI acquired a new position in shares of Bel Fuse during the fourth quarter valued at $78,000. Finally, Creekmur Asset Management LLC acquired a new stake in Bel Fuse in the fourth quarter worth about $143,000. 58.39% of the stock is currently owned by institutional investors.

Bel Fuse Stock Up 0.7 %

NASDAQ BELFB opened at $66.06 on Thursday. Bel Fuse Inc. has a 12 month low of $39.13 and a 12 month high of $76.09. The company has a market capitalization of $833.68 million, a P/E ratio of 11.12 and a beta of 1.34. The company’s 50 day simple moving average is $66.40 and its 200 day simple moving average is $63.01. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.19 and a quick ratio of 2.76.

Bel Fuse (NASDAQ:BELFB) last announced its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.58. The company had revenue of $133.21 million during the quarter, compared to the consensus estimate of $130.27 million. Bel Fuse had a return on equity of 20.97% and a net margin of 11.81%. During the same quarter in the prior year, the firm earned $1.95 EPS. Equities research analysts expect that Bel Fuse Inc. will post 4.52 earnings per share for the current fiscal year.

Bel Fuse Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.28 annualized dividend and a yield of 0.42%. Bel Fuse’s payout ratio is presently 4.71%.

Analyst Ratings Changes

Several equities analysts have commented on BELFB shares. Needham & Company LLC raised their target price on shares of Bel Fuse from $68.00 to $79.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Northland Securities raised Bel Fuse from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Thursday, September 5th. StockNews.com upgraded Bel Fuse from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Northland Capmk upgraded Bel Fuse from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 5th.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures, markets, and sells products that are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries in the United States, the People's Republic of China, Macao, the United Kingdom, Slovakia, Germany, India, Switzerland, and internationally.