Bel Fuse Inc. (NASDAQ:BELFB) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 14.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 154,072 shares of the electronics maker’s stock after selling 25,431 shares during the period. Thrivent Financial for Lutherans owned approximately 1.23% of Bel Fuse worth $12,706,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in shares of Bel Fuse by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 289,298 shares of the electronics maker’s stock worth $22,716,000 after purchasing an additional 6,250 shares during the period. Janus Henderson Group PLC boosted its position in Bel Fuse by 11.1% in the 3rd quarter. Janus Henderson Group PLC now owns 256,172 shares of the electronics maker’s stock valued at $20,109,000 after buying an additional 25,607 shares during the period. Portolan Capital Management LLC boosted its position in Bel Fuse by 122.8% in the 3rd quarter. Portolan Capital Management LLC now owns 120,858 shares of the electronics maker’s stock valued at $9,489,000 after buying an additional 66,621 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Bel Fuse by 15.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 113,789 shares of the electronics maker’s stock valued at $8,934,000 after buying an additional 15,296 shares during the period. Finally, Hodges Capital Management Inc. boosted its position in Bel Fuse by 38.1% in the 4th quarter. Hodges Capital Management Inc. now owns 104,645 shares of the electronics maker’s stock valued at $8,630,000 after buying an additional 28,860 shares during the period. Hedge funds and other institutional investors own 58.39% of the company’s stock.

Bel Fuse Price Performance

Bel Fuse stock opened at $73.55 on Friday. The stock has a market cap of $922.24 million, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 1.24 and a beta of 1.12. The company has a fifty day simple moving average of $80.36 and a 200-day simple moving average of $79.35. Bel Fuse Inc. has a 12-month low of $53.74 and a 12-month high of $92.61. The company has a current ratio of 2.92, a quick ratio of 1.66 and a debt-to-equity ratio of 0.80.

Bel Fuse (NASDAQ:BELFB) last released its quarterly earnings data on Tuesday, February 18th. The electronics maker reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($1.10). The firm had revenue of $149.86 million for the quarter, compared to analysts’ expectations of $126.41 million. Bel Fuse had a return on equity of 12.37% and a net margin of 7.66%. During the same period last year, the firm posted $1.29 earnings per share. Equities analysts expect that Bel Fuse Inc. will post 4.63 EPS for the current fiscal year.

Bel Fuse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.28 annualized dividend and a yield of 0.38%. Bel Fuse’s dividend payout ratio is currently 8.56%.

Analysts Set New Price Targets

BELFB has been the subject of several recent research reports. Oppenheimer initiated coverage on shares of Bel Fuse in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $105.00 price target for the company. Needham & Company LLC raised their price target on shares of Bel Fuse from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, StockNews.com cut shares of Bel Fuse from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Bel Fuse currently has an average rating of “Buy” and a consensus price target of $100.00.

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.