BELFB - Bel Fuse: Successfully Deleveraging The Balance Sheet

• Net sales have been stagnant due to an aggressive deleveraging process.
• Some headwinds produced declining sales in recent years, including tariffs imposed on the company's products imported from China, the coronavirus pandemic crisis, and increased raw material costs.
• The company's cash payout ratio is relatively low and the company is generating cash.
• The dividend is safe, and the share price is down by almost 60% from mid-term highs in December 2016.
• The company has a strong cyclical component and now is the time to acquire shares right before the turnaround.

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