XTX Topco Ltd has acquired a new stake in Bel Fuse Inc. (NASDAQ:BELFB), purchasing 3,665 shares valued at approximately $358,000. This transaction was disclosed in the company’s latest 13F filing with the U.S. Securities and Exchange Commission (SEC) for the second quarter. The investment reflects ongoing interest from institutional investors in the electronics manufacturer, which specializes in products used across various industries, including telecommunications and aerospace.
Several other institutional investors have also recently adjusted their holdings in Bel Fuse. For instance, Vanguard Group Inc. increased its stake by 1.4% in the first quarter, now owning 917,097 shares worth around $68.7 million following the acquisition of an additional 12,808 shares. Similarly, American Century Companies Inc. bolstered its position by 1.5%, bringing its total to 357,131 shares valued at $26.7 million.
Bessemer Group Inc. made a significant move by increasing its holdings by 28.3% during the second quarter. They now own 325,800 shares worth approximately $31.8 million after acquiring 71,895 shares. Geode Capital Management LLC also raised its stake by 2.6%, totaling 321,922 shares valued at around $31.5 million. Makaira Partners LLC entered the scene with a new position worth $18.4 million in the first quarter.
The market dynamics surrounding Bel Fuse have caught the attention of analysts as well. Recent reports indicate a positive outlook, with two analysts upgrading the stock to a “Strong Buy” rating. Wall Street Zen made this upgrade on November 1, while Weiss Ratings reiterated a “buy (b-)” rating on October 8. Additionally, Robert W. Baird set a price objective of $170.00, while Oppenheimer aimed for $180.00, and Northland Securities set a target of $188.00. Data from MarketBeat.com shows that Bel Fuse holds an average rating of “Buy” with a target price of $164.20.
In insider trading news, Vice President Joseph Berry sold 408 shares on November 17 at an average price of $144.23, totaling approximately $58,845.84. Following this transaction, Berry retains 17,893 shares valued at around $2.58 million, marking a 2.23% reduction in his ownership. Another vice president, Kenneth Koon Keung Lai, sold 1,936 shares on the same day, also at an average price of $144.23, for a total of $279,229.28. Lai’s remaining holdings now comprise 8,319 shares valued at approximately $1.2 million, reflecting an 18.88% decrease in his position.
Overall, insiders sold a total of 3,027 shares worth $435,034 in the last quarter, with insiders currently holding 5.37% of the company’s stock.
Regarding performance, shares of Bel Fuse opened at $166.00 on Friday. The company boasts a market capitalization of $2.1 billion, with a price-to-earnings (P/E) ratio of 31.92 and a P/E growth (P/E/G) ratio of 1.82. The stock has fluctuated significantly over the past year, with a low of $57.99 and a high of $167.04. Key financial metrics indicate a debt-to-equity ratio of 0.53, a quick ratio of 1.75, and a current ratio of 3.06.
Bel Fuse has also declared a quarterly dividend of $0.07, scheduled for payment on January 30, 2024. Investors of record on January 15 will receive this dividend, which translates to an annualized dividend of $0.28 and a yield of 0.2%. The company maintains a dividend payout ratio of 5.38%.
Founded to design and manufacture products that power, protect, and connect electronic circuits, Bel Fuse operates across several sectors, including networking, telecommunications, and military applications. As interest from institutional shareholders grows, the company appears well-positioned for future developments in the electronics market.
