Smith & Wesson Brands (NASDAQ:SWBI) Sees Large Volume Increase Following Dividend Announcement

Smith & Wesson Brands, Inc. (NASDAQ:SWBI) saw unusually-strong trading volume on Monday after the company announced a dividend. Approximately 1,062,785 shares traded hands during trading, an increase of 148% from the previous session’s volume of 428,618 shares.The stock last traded at $11.22 and had previously closed at $10.86.

The newly announced dividend which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, December 19th will be paid a $0.13 dividend. The ex-dividend date is Thursday, December 19th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.67%. Smith & Wesson Brands’s dividend payout ratio (DPR) is 66.67%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Lake Street Capital downgraded shares of Smith & Wesson Brands from a “buy” rating to a “hold” rating and decreased their target price for the stock from $18.00 to $13.00 in a research note on Friday, December 6th. Craig Hallum downgraded Smith & Wesson Brands from a “buy” rating to a “hold” rating and cut their price target for the stock from $18.00 to $13.00 in a research note on Friday, December 6th.

Smith & Wesson Brands Trading Down 1.7 %

The firm has a market capitalization of $498.98 million, a PE ratio of 14.45 and a beta of 0.96. The firm has a 50 day simple moving average of $13.16 and a 200 day simple moving average of $14.25. The company has a current ratio of 3.97, a quick ratio of 1.43 and a debt-to-equity ratio of 0.36.

Smith & Wesson Brands (NASDAQ:SWBI) last posted its earnings results on Thursday, December 5th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $133.53 million. During the same quarter in the prior year, the company posted $0.14 EPS. Smith & Wesson Brands’s revenue was up 3.8% on a year-over-year basis. Equities analysts expect that Smith & Wesson Brands, Inc. will post 0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Smith & Wesson Brands

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP boosted its stake in shares of Smith & Wesson Brands by 2,773.0% during the 2nd 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. Blue Trust Inc. raised its position in shares of Smith & Wesson Brands by 311.0% during the 2nd quarter. Blue Trust Inc. now owns 2,133 shares of the company’s stock valued at $31,000 after purchasing an additional 1,614 shares during the period. International Assets Investment Management LLC boosted its holdings in Smith & Wesson Brands by 1,198.2% in the 3rd quarter. International Assets Investment Management LLC now owns 2,908 shares of the company’s stock worth $38,000 after buying an additional 2,684 shares during the period. NBC Securities Inc. increased its stake in Smith & Wesson Brands by 823.8% in the 3rd quarter. NBC Securities Inc. now owns 4,000 shares of the company’s stock worth $51,000 after buying an additional 3,567 shares in the last quarter. Finally, Copeland Capital Management LLC purchased a new stake in Smith & Wesson Brands during the 3rd quarter valued at approximately $52,000. 59.33% of the stock is currently owned by hedge funds and other institutional investors.

About Smith & Wesson Brands

Smith & Wesson Brands, Inc designs, manufactures, and sells firearms worldwide. The company offers handguns, including revolvers and pistols; long guns, such as modern sporting rifles, bolt action rifles; handcuffs; suppressors; and other firearm-related products under the Smith & Wesson, M&P, and Gemtech brands.