Alambic Investment Management L.P. raised its position in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 16.2% during the third quarter, Holdings Channel reports. The fund owned 15,760 shares of the company’s stock after buying an additional 2,200 shares during the period. Alambic Investment Management L.P. owned about 0.13% of Bel Fuse worth $380,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Great West Life Assurance Co. Can increased its stake in shares of Bel Fuse by 15.4% in the third quarter. Great West Life Assurance Co. Can now owns 10,746 shares of the company’s stock valued at $259,000 after buying an additional 1,431 shares during the last quarter. Martingale Asset Management L P purchased a new stake in shares of Bel Fuse during the second quarter valued at about $260,000. AXA purchased a new stake in shares of Bel Fuse during the second quarter valued at about $281,000. Emerald Acquisition Ltd. purchased a new stake in shares of Bel Fuse during the second quarter valued at about $288,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Bel Fuse by 4.0% in the second quarter. PNC Financial Services Group Inc. now owns 16,820 shares of the company’s stock valued at $299,000 after buying an additional 648 shares during the last quarter. 56.35% of the stock is owned by hedge funds and other institutional investors.
Shares of Bel Fuse Inc. (NASDAQ:BELFB) traded up 0.96% during trading on Thursday, hitting $31.60. The firm has a 50-day moving average of $31.48 and a 200 day moving average of $25.26. Bel Fuse Inc. has a 1-year low of $13.31 and a 1-year high of $33.60. The stock’s market cap is $377.08 million.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Friday, January 13th will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, January 11th. This represents a $0.28 annualized dividend and a yield of 0.89%. Bel Fuse’s dividend payout ratio is presently -5.33%.
Separately, B. Riley started coverage on shares of Bel Fuse in a research note on Wednesday. They issued a “buy” rating and a $39.00 price objective for the company.
In other Bel Fuse news, insider Daniel Bernstein sold 3,000 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $25.56, for a total value of $76,680.00. Following the transaction, the insider now directly owns 6,000 shares in the company, valued at approximately $153,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Dennis Ackerman sold 2,500 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $25.53, for a total transaction of $63,825.00. Following the completion of the transaction, the vice president now owns 5,000 shares in the company, valued at $127,650. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,500 shares of company stock valued at $290,205. 8.84% of the stock is owned by corporate insiders.
Bel Fuse Company Profile
Bel Fuse Inc (Bel) designs, manufactures and markets a range of products that power, protect and connect electronic circuits. The Company’s products include magnetic solutions, power solutions and protection, and connectivity solutions. The Company’s operating segments are North America, Asia and Europe.
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