Schwab Charles Investment Management Inc. cut its position in Bel Fuse Inc. (NASDAQ:BELFB) by 11.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,290 shares of the electronics maker’s stock after selling 7,976 shares during the period. Schwab Charles Investment Management Inc. owned 0.50% of Bel Fuse worth $1,490,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Comerica Bank raised its holdings in Bel Fuse by 3.7% during the 1st quarter. Comerica Bank now owns 9,549 shares of the electronics maker’s stock valued at $231,000 after acquiring an additional 344 shares during the period. WealthTrust Axiom LLC grew its position in Bel Fuse by 10.2% in the second quarter. WealthTrust Axiom LLC now owns 10,829 shares of the electronics maker’s stock worth $267,000 after acquiring an additional 1,000 shares in the last quarter. Principal Financial Group Inc. grew its position in Bel Fuse by 3.6% in the first quarter. Principal Financial Group Inc. now owns 66,016 shares of the electronics maker’s stock worth $1,687,000 after acquiring an additional 2,321 shares in the last quarter. Ameriprise Financial Inc. grew its position in Bel Fuse by 6.4% in the first quarter. Ameriprise Financial Inc. now owns 46,075 shares of the electronics maker’s stock worth $1,177,000 after acquiring an additional 2,785 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Bel Fuse by 20.1% during the first quarter. PNC Financial Services Group Inc. now owns 18,790 shares of the electronics maker’s stock valued at $481,000 after buying an additional 3,140 shares during the period. Institutional investors and hedge funds own 59.55% of the company’s stock.
Bel Fuse Inc. (NASDAQ BELFB) remained flat at $$25.75 during mid-day trading on Friday. The stock had a trading volume of 18,700 shares, compared to its average volume of 32,396. The stock has a market capitalization of $309.82, a PE ratio of 19.66 and a beta of 0.83. The company has a current ratio of 2.66, a quick ratio of 1.59 and a debt-to-equity ratio of 0.59. Bel Fuse Inc. has a 52-week low of $21.65 and a 52-week high of $33.60.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, October 13th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Thursday, October 12th. Bel Fuse’s dividend payout ratio (DPR) is presently 28.57%.
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Separately, BidaskClub downgraded shares of Bel Fuse from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th.
About Bel Fuse
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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