JPMorgan Chase & Co. Increases Position in Smith & Wesson Brands, Inc. (NASDAQ:SWBI)

JPMorgan Chase & Co. lifted its holdings in shares of Smith & Wesson Brands, Inc. (NASDAQ:SWBI) by 9.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 131,566 shares of the company’s stock after acquiring an additional 11,006 shares during the quarter. JPMorgan Chase & Co. owned 0.30% of Smith & Wesson Brands worth $1,708,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of SWBI. Quarry LP increased its position in shares of Smith & Wesson Brands by 2,773.0% during the second quarter. Quarry LP now owns 2,126 shares of the company’s stock worth $30,000 after acquiring an additional 2,052 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Smith & Wesson Brands by 1,198.2% during the third quarter. International Assets Investment Management LLC now owns 2,908 shares of the company’s stock worth $38,000 after acquiring an additional 2,684 shares during the last quarter. NBC Securities Inc. increased its position in shares of Smith & Wesson Brands by 823.8% during the third quarter. NBC Securities Inc. now owns 4,000 shares of the company’s stock worth $51,000 after acquiring an additional 3,567 shares during the last quarter. Copeland Capital Management LLC bought a new stake in Smith & Wesson Brands in the third quarter valued at about $52,000. Finally, Point72 DIFC Ltd bought a new stake in Smith & Wesson Brands in the second quarter valued at about $59,000. 59.33% of the stock is owned by hedge funds and other institutional investors.

Smith & Wesson Brands Stock Performance

Shares of SWBI stock opened at $10.45 on Thursday. The company has a quick ratio of 1.43, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average of $11.38 and a two-hundred day moving average of $13.09. Smith & Wesson Brands, Inc. has a 52 week low of $9.68 and a 52 week high of $18.05. The company has a market cap of $459.80 million, a P/E ratio of 13.40 and a beta of 1.02.

Smith & Wesson Brands (NASDAQ:SWBI) last issued its earnings results on Thursday, December 5th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Smith & Wesson Brands had a net margin of 7.00% and a return on equity of 8.78%. The company had revenue of $129.70 million during the quarter, compared to analyst estimates of $133.53 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. As a group, analysts anticipate that Smith & Wesson Brands, Inc. will post 0.47 EPS for the current year.

Smith & Wesson Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Thursday, December 19th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, December 19th. This represents a $0.52 annualized dividend and a dividend yield of 4.98%. Smith & Wesson Brands’s dividend payout ratio is presently 66.67%.

Analyst Ratings Changes

Several brokerages recently weighed in on SWBI. Lake Street Capital lowered Smith & Wesson Brands from a “buy” rating to a “hold” rating and lowered their price objective for the company from $18.00 to $13.00 in a report on Friday, December 6th. Craig Hallum downgraded Smith & Wesson Brands from a “buy” rating to a “hold” rating and decreased their target price for the company from $18.00 to $13.00 in a research note on Friday, December 6th.

Smith & Wesson Brands Profile

Smith & Wesson Brands, Inc is a holding company, which engages in the manufacture, design, and provision of firearms. Its portfolio includes handguns, long guns, handcuffs, suppressor, and other firearm-related products. The firm’s brands are Smith & Wesson, M&P, Thompson/Center Arms, and Gemtech.