Hodges Capital Management Inc. Purchases New Position in Bel Fuse Inc. (NASDAQ:BELFB)

Hodges Capital Management Inc. bought a new position in shares of Bel Fuse Inc. (NASDAQ:BELFB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 51,295 shares of the electronics maker’s stock, valued at approximately $3,346,000.

Other large investors have also recently made changes to their positions in the company. Beach Investment Counsel Inc. PA acquired a new stake in Bel Fuse in the second quarter valued at about $25,000. Comerica Bank raised its position in 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 acquiring an additional 510 shares in the last quarter. New York State Teachers Retirement System raised its position in Bel Fuse by 373.5% in the first quarter. New York State Teachers Retirement System now owns 947 shares of the electronics maker’s stock worth $57,000 after acquiring an additional 747 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of Bel Fuse during the 4th quarter worth $78,000. Finally, Creekmur Asset Management LLC purchased a new position in shares of Bel Fuse in the 4th quarter valued at about $143,000. 58.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on BELFB. Northland Securities boosted their price objective on shares of Bel Fuse from $63.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th. Needham & Company LLC boosted their price objective on Bel Fuse from $68.00 to $79.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, StockNews.com raised Bel Fuse from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.

Bel Fuse Stock Down 1.1 %

NASDAQ:BELFB traded down $0.73 during trading hours on Wednesday, hitting $63.94. 1,742 shares of the stock traded hands, compared to its average volume of 97,441. The firm has a market cap of $806.92 million, a price-to-earnings ratio of 10.89 and a beta of 1.41. The firm has a 50 day moving average price of $66.42 and a 200 day moving average price of $62.95. The company has a current ratio of 4.19, a quick ratio of 2.76 and a debt-to-equity ratio of 0.17. Bel Fuse Inc. has a fifty-two week low of $39.13 and a fifty-two week high of $76.09.

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

Bel Fuse Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.44%. Bel Fuse’s payout ratio is presently 4.71%.

Bel Fuse 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.