Larson Financial Group LLC Trims Stock Position in Smith & Wesson Brands, Inc. (NASDAQ:SWBI)

Larson Financial Group LLC trimmed its holdings in Smith & Wesson Brands, Inc. (NASDAQ:SWBI) by 25.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 15,778 shares of the company’s stock after selling 5,444 shares during the quarter. Larson Financial Group LLC’s holdings in Smith & Wesson Brands were worth $226,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SWBI. Blue Trust Inc. lifted its stake in shares of Smith & Wesson Brands by 311.0% in 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 last quarter. nVerses Capital LLC acquired a new position in shares of Smith & Wesson Brands in the 2nd quarter valued at $130,000. Allspring Global Investments Holdings LLC lifted its position in Smith & Wesson Brands by 1,653.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,256 shares of the company’s stock valued at $161,000 after buying an additional 8,728 shares during the last quarter. TrueMark Investments LLC purchased a new position in Smith & Wesson Brands during the second quarter worth about $149,000. Finally, Keynote Financial Services LLC purchased a new position in Smith & Wesson Brands during the first quarter worth about $199,000. Institutional investors and hedge funds own 59.33% of the company’s stock.

Smith & Wesson Brands Trading Down 9.4 %

Shares of SWBI stock opened at $12.85 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.98 and a quick ratio of 1.32. The firm has a market cap of $585.45 million, a PE ratio of 14.94 and a beta of 1.01. The company has a 50-day moving average of $14.91 and a two-hundred day moving average of $15.76. Smith & Wesson Brands, Inc. has a 1-year low of $10.38 and a 1-year high of $18.05.

Smith & Wesson Brands (NASDAQ:SWBI) last announced its earnings results on Thursday, September 5th. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). The company had revenue of $88.33 million during the quarter, compared to analyst estimates of $102.52 million. Smith & Wesson Brands had a net margin of 7.39% and a return on equity of 11.03%. Smith & Wesson Brands’s revenue was down 22.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share.

Smith & Wesson Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a $0.13 dividend. This is a positive change from Smith & Wesson Brands’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, July 11th. This represents a $0.52 annualized dividend and a dividend yield of 4.05%. Smith & Wesson Brands’s dividend payout ratio (DPR) is presently 60.47%.

Insider Activity

In other news, Director Robert L. Scott sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $16.07, for a total value of $32,140.00. Following the completion of the transaction, the director now owns 67,569 shares of the company’s stock, valued at $1,085,833.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.99% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Lake Street Capital increased their target price on shares of Smith & Wesson Brands from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, June 21st.

Smith & Wesson Brands Profile

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.