Bel Fuse (NASDAQ:BELFA) Shares Gap Down to $86.00

Bel Fuse Inc. (NASDAQ:BELFA) shares gapped down before the market opened on Monday . The stock had previously closed at $86.00, but opened at $83.76. Bel Fuse shares last traded at $83.76, with a volume of 479 shares changing hands.

Bel Fuse Stock Up 2.3 %

The company has a current ratio of 4.19, a quick ratio of 2.76 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.09 billion, a P/E ratio of 15.38 and a beta of 1.29. The stock’s fifty day moving average is $84.43 and its two-hundred day moving average is $77.19.

Bel Fuse (NASDAQ:BELFA) last announced its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.59. Bel Fuse had a net margin of 11.81% and a return on equity of 21.62%. The company had revenue of $133.21 million during the quarter.

Bel Fuse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Tuesday, October 15th. Bel Fuse’s payout ratio is presently 4.26%.

Hedge Funds Weigh In On Bel Fuse

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Brown Advisory Inc. purchased a new position in shares of Bel Fuse in the 4th quarter valued at about $2,442,000. Janney Montgomery Scott LLC increased its holdings in Bel Fuse by 8.8% in the first quarter. Janney Montgomery Scott LLC now owns 13,123 shares of the scientific and technical instruments company’s stock valued at $929,000 after buying an additional 1,063 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Bel Fuse during the 2nd quarter worth $444,000. Finally, Rhumbline Advisers lifted its stake in Bel Fuse by 2,346.3% in the 2nd quarter. Rhumbline Advisers now owns 1,957 shares of the scientific and technical instruments company’s stock valued at $158,000 after buying an additional 1,877 shares in the last quarter. Institutional investors and hedge funds own 6.01% of the company’s stock.

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.