Pinnacle Associates Ltd. Grows Stock Holdings in Bel Fuse Inc. (NASDAQ:BELFB)

Pinnacle Associates Ltd. increased its stake in Bel Fuse Inc. (NASDAQ:BELFB) by 168.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,680 shares of the electronics maker’s stock after purchasing an additional 22,995 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Bel Fuse were worth $2,880,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Beach Investment Counsel Inc. PA purchased a new stake in Bel Fuse during the second quarter valued at $25,000. Isthmus Partners LLC purchased a new stake in Bel Fuse during the second quarter valued at $39,000. nVerses Capital LLC purchased a new stake in Bel Fuse during the third quarter valued at $39,000. Comerica Bank increased its position in Bel Fuse by 223.7% during the first quarter. Comerica Bank now owns 738 shares of the electronics maker’s stock valued at $45,000 after acquiring an additional 510 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Bel Fuse during the third quarter valued at $200,000. Institutional investors own 58.39% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Northland Securities upped their price objective on Bel Fuse from $80.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. StockNews.com raised Bel Fuse from a “buy” rating to a “strong-buy” rating in a report on Friday, October 25th. Northland Capmk raised Bel Fuse from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 5th. Finally, Needham & Company LLC boosted their price target on Bel Fuse from $68.00 to $79.00 and gave the company a “buy” rating in a report on Friday, July 26th.

Bel Fuse Stock Performance

NASDAQ:BELFB opened at $75.42 on Friday. The stock has a 50-day simple moving average of $74.76 and a two-hundred day simple moving average of $68.25. Bel Fuse Inc. has a 52-week low of $45.74 and a 52-week high of $85.91. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.76 and a current ratio of 4.19. The firm has a market capitalization of $946.37 million, a PE ratio of 17.30 and a beta of 1.34.

Bel Fuse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Wednesday, January 15th. Bel Fuse’s dividend payout ratio (DPR) is 6.42%.

Bel Fuse Company 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.