Connor Clark & Lunn Investment Management Ltd. Invests $2.27 Million in Smith & Wesson Brands, Inc. $SWBI

Key Points

• Connor Clark & Lunn Investment Management acquired 150,685 shares of Smith & Wesson Brands worth approximately $2.27 million, representing about 0.34% of the company. Institutional investors and hedge funds collectively own 59.33% of SWBI.
• Smith & Wesson reported quarterly EPS of $0.36, surpassing the $0.23 consensus estimate, while revenue rose 26.7% year over year to $178.39 million.
• The company pays a quarterly dividend of $0.13 per share, or $0.52 annually, yielding about 4.1%; analysts maintain a consensus Hold rating with a $16.50 target price.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Smith & Wesson Brands, Inc. (NASDAQ:SWBI - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 150,685 shares of the company's stock, valued at approximately $2,266,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.34% of Smith & Wesson Brands as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of SWBI. BlackRock Inc. acquired a new position in Smith & Wesson Brands in the second quarter valued at $61,549,000. Millennium Management LLC acquired a new stake in Smith & Wesson Brands during the 3rd quarter worth about $7,558,000. Two Sigma Investments LP grew its holdings in Smith & Wesson Brands by 166.1% during the 3rd quarter. Two Sigma Investments LP now owns 753,964 shares of the company's stock worth $7,411,000 after acquiring an additional 470,602 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Smith & Wesson Brands in the 2nd quarter worth about $6,423,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Smith & Wesson Brands by 25.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,311,503 shares of the company's stock worth $12,945,000 after acquiring an additional 265,370 shares in the last quarter. 59.33% of the stock is currently owned by institutional investors and hedge funds.

Smith & Wesson Brands Price Performance

Shares of NASDAQ:SWBI opened at $12.78 on Friday. The company has a quick ratio of 1.13, a current ratio of 3.20 and a debt-to-equity ratio of 0.14. Smith & Wesson Brands, Inc. has a twelve month low of $8.01 and a twelve month high of $17.56. The stock's 50 day moving average is $14.75 and its 200-day moving average is $14.38. 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 quarterly earnings results on Wednesday, June 17th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.13. Smith & Wesson Brands had a net margin of 3.53% and a return on equity of 5.01%. The business had revenue of $178.39 million during the quarter, compared to the consensus estimate of $155.27 million. During the same quarter last year, the firm posted $0.20 EPS. Smith & Wesson Brands's revenue was up 26.7% compared to the same quarter last year. Sell-side analysts forecast that Smith & Wesson Brands, Inc. will post 0.55 EPS for the current fiscal year.

Smith & Wesson Brands Announces Dividend

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

Wall Street Analyst Weigh In

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

Smith & Wesson Brands 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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