4,092,378 Shares in Smith & Wesson Brands, Inc. $SWBI Bought by BlackRock Inc.

Key Points

• BlackRock acquired 4.09 million shares of Smith & Wesson Brands in the second quarter, valued at about $61.5 million and representing approximately 9.15% of the company. Institutional investors collectively own 59.33% of SWBI.
• Smith & Wesson reported stronger-than-expected quarterly results, with EPS of $0.36 versus the $0.23 consensus and revenue of $178.39 million, up 26.7% year over year.
• The stock opened at $12.78, while analysts maintain a consensus “Hold” rating and a $16.50 price target. The company’s $0.13 quarterly dividend implies a 4.1% yield, though its 130% payout ratio exceeds reported earnings.

BlackRock Inc. bought a new stake in Smith & Wesson Brands, Inc. (NASDAQ:SWBI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,092,378 shares of the company's stock, valued at approximately $61,549,000. BlackRock Inc. owned approximately 9.15% of Smith & Wesson Brands at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SWBI. Deutsche Bank AG bought a new stake in shares of Smith & Wesson Brands during the second quarter worth about $675,000. Roman Butler Fullerton & Co. bought a new position in Smith & Wesson Brands in the 2nd quarter valued at approximately $607,000. Bank of New York Mellon Corp acquired a new stake in Smith & Wesson Brands during the 2nd quarter worth approximately $6,423,000. State of Wyoming acquired a new stake in Smith & Wesson Brands during the 2nd quarter worth approximately $342,000. Finally, GSA Capital Partners LLP bought a new stake in Smith & Wesson Brands during the 2nd quarter worth approximately $205,000. Institutional investors own 59.33% of the company's stock.

Smith & Wesson Brands Stock Performance

Shares of Smith & Wesson Brands stock opened at $12.78 on Monday. The business has a 50-day simple moving average of $14.75 and a 200 day simple moving average of $14.40. Smith & Wesson Brands, Inc. has a one year low of $8.01 and a one year high of $17.56. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.20 and a quick ratio of 1.13. The firm has a market capitalization of $573.06 million, a price-to-earnings ratio of 31.95 and a beta of 0.88.

Smith & Wesson Brands (NASDAQ:SWBI - Get Free Report) last posted its earnings results on Wednesday, June 17th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.13. The company had revenue of $178.39 million for the quarter, compared to analyst estimates of $155.27 million. Smith & Wesson Brands had a net margin of 3.53% and a return on equity of 5.01%. The firm's revenue was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.20 EPS. On average, research analysts anticipate that Smith & Wesson Brands, Inc. will post 0.55 earnings per share for the current fiscal year.

Smith & Wesson Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, July 1st. This represents a $0.52 annualized dividend and a dividend yield of 4.1%. Smith & Wesson Brands's dividend payout ratio is currently 130.00%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Weiss Ratings downgraded Smith & Wesson Brands from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, July 29th. Lake Street Capital raised their price objective on Smith & Wesson Brands from $14.00 to $16.50 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Finally, Zacks Research raised Smith & Wesson Brands to a "hold" rating in a research note on Tuesday, June 23rd. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $16.50.

Smith & Wesson Brands Company Profile

Smith & Wesson Brands, Inc is a leading American manufacturer of firearms and related products, designing, producing and marketing a broad array of handguns, long guns and shooting accessories. The company’s portfolio includes revolvers, semi-automatic pistols and rifles under well-known brands such as M&P® (Military & Police) and Performance Center®, which are used by military, law enforcement, commercial and private customers. In addition to complete firearms, Smith & Wesson offers suppressors, optics mounts, holsters and other shooting accessories to support a full spectrum of professional and recreational shooting activities.

Founded in 1852 by Horace Smith and Daniel B.

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