Thrivent Financial for Lutherans Grows Position in Bel Fuse Inc. (NASDAQ:BELFB)

Thrivent Financial for Lutherans grew its stake in Bel Fuse Inc. (NASDAQ:BELFB) by 7.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 179,503 shares of the electronics maker’s stock after buying an additional 12,007 shares during the period. Thrivent Financial for Lutherans’ holdings in Bel Fuse were worth $14,093,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC lifted its holdings in shares of Bel Fuse by 1.3% during the second quarter. Renaissance Technologies LLC now owns 309,851 shares of the electronics maker’s stock worth $20,215,000 after purchasing an additional 4,027 shares during the period. American Century Companies Inc. boosted its holdings in shares of Bel Fuse by 11.6% in the 2nd quarter. American Century Companies Inc. now owns 276,265 shares of the electronics maker’s stock valued at $18,024,000 after acquiring an additional 28,649 shares during the last quarter. Roubaix Capital LLC boosted 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. Isthmus Partners LLC acquired a new stake in shares of Bel Fuse in the second quarter worth $39,000. Finally, Hodges Capital Management Inc. acquired a new position in Bel Fuse during the second quarter valued at $3,346,000. 58.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Bel Fuse Price Performance

Bel Fuse stock opened at $75.33 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.71 and a current ratio of 4.00. The company’s fifty day moving average price is $77.98 and its 200 day moving average price is $70.16. The stock has a market capitalization of $945.01 million, a P/E ratio of 17.28 and a beta of 1.35. Bel Fuse Inc. has a 1 year low of $45.74 and a 1 year high of $85.91.

Bel Fuse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, January 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.37%. Bel Fuse’s dividend payout ratio (DPR) is presently 6.42%.

About Bel Fuse

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.