Diamond Hill Capital Management Inc. Increases Holdings in Johnson Outdoors Inc. (NASDAQ:JOUT)

Key Points

• Diamond Hill Capital Management Inc. increased its stake in Johnson Outdoors by 523.6%, owning 55,143 shares valued at approximately $1.37 million.
• Johnson Outdoors reported quarterly earnings of $0.22 per share, slightly exceeding analyst expectations, but had a negative net margin of 8.23%.
• The company recently paid a quarterly dividend of $0.33 per share, with an annualized dividend yield of 4.01%.

Diamond Hill Capital Management Inc. raised its holdings in Johnson Outdoors Inc. (NASDAQ:JOUT - Free Report) by 523.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,143 shares of the company's stock after purchasing an additional 46,301 shares during the period. Diamond Hill Capital Management Inc. owned about 0.53% of Johnson Outdoors worth $1,370,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of JOUT. CWM LLC raised its position in shares of Johnson Outdoors by 49.0% during the 1st quarter. CWM LLC now owns 1,575 shares of the company's stock worth $39,000 after purchasing an additional 518 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Johnson Outdoors by 57.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,248 shares of the company's stock worth $74,000 after acquiring an additional 820 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Johnson Outdoors by 5,310.7% in the first quarter. GAMMA Investing LLC now owns 3,030 shares of the company's stock worth $75,000 after acquiring an additional 2,974 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Johnson Outdoors in the fourth quarter worth approximately $77,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Johnson Outdoors by 26.4% in the fourth quarter. Wells Fargo & Company MN now owns 2,788 shares of the company's stock worth $92,000 after acquiring an additional 583 shares during the last quarter. 64.05% of the stock is owned by institutional investors and hedge funds.

Johnson Outdoors Stock Performance

Shares of NASDAQ:JOUT traded up $0.09 during trading on Monday, reaching $33.02. The stock had a trading volume of 3,779 shares, compared to its average volume of 50,730. The business has a fifty day moving average price of $29.75 and a 200-day moving average price of $27.91. The stock has a market cap of $341.10 million, a PE ratio of -7.40 and a beta of 0.78. Johnson Outdoors Inc. has a 1-year low of $21.33 and a 1-year high of $43.13.

Johnson Outdoors (NASDAQ:JOUT - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. The firm had revenue of $168.35 million for the quarter, compared to analyst estimates of $178.27 million. Johnson Outdoors had a negative return on equity of 9.90% and a negative net margin of 8.23%. During the same period in the previous year, the company posted $0.21 earnings per share. Sell-side analysts expect that Johnson Outdoors Inc. will post -0.58 earnings per share for the current year.

Johnson Outdoors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Thursday, July 10th. Johnson Outdoors's dividend payout ratio is presently -29.60%.

About Johnson Outdoors

Johnson Outdoors Inc designs, manufactures, and markets seasonal and outdoor recreational products for fishing worldwide. It operates through four segments: Fishing, Camping, Watercraft Recreation, and Diving. The Fishing segment offers electric motors for trolling, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.