Wallace Capital Management Inc. Cuts Position in Johnson Outdoors Inc. (NASDAQ:JOUT)

Wallace Capital Management Inc. lessened its position in Johnson Outdoors Inc. (NASDAQ:JOUT) by 16.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 308,233 shares of the company’s stock after selling 62,096 shares during the quarter. Johnson Outdoors accounts for approximately 1.4% of Wallace Capital Management Inc.’s portfolio, making the stock its 16th largest holding. Wallace Capital Management Inc.’s holdings in Johnson Outdoors were worth $10,172,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Foundry Partners LLC purchased a new position in shares of Johnson Outdoors in the 4th quarter worth about $3,027,000. Peapod Lane Capital LLC bought a new stake in Johnson Outdoors in the 4th quarter worth approximately $1,809,000. First Eagle Investment Management LLC purchased a new stake in Johnson Outdoors in the fourth quarter worth approximately $1,695,000. Gamco Investors INC. ET AL grew its position in Johnson Outdoors by 13.9% during the fourth quarter. Gamco Investors INC. ET AL now owns 355,400 shares of the company’s stock valued at $11,728,000 after acquiring an additional 43,500 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Johnson Outdoors by 18.2% during the fourth quarter. ProShare Advisors LLC now owns 231,016 shares of the company’s stock worth $7,624,000 after acquiring an additional 35,612 shares in the last quarter. Hedge funds and other institutional investors own 64.05% of the company’s stock.

Johnson Outdoors Stock Performance

Shares of JOUT opened at $27.25 on Tuesday. Johnson Outdoors Inc. has a fifty-two week low of $21.33 and a fifty-two week high of $43.13. The firm has a market cap of $281.60 million, a price-to-earnings ratio of -6.10 and a beta of 0.73. The firm has a 50 day moving average price of $24.33 and a 200-day moving average price of $29.42.

Johnson Outdoors (NASDAQ:JOUT) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. Johnson Outdoors had a negative net margin of 8.15% and a negative return on equity of 9.62%. The business had revenue of $168.35 million during the quarter, compared to the consensus estimate of $178.27 million. During the same period in the previous year, the firm posted $0.21 earnings per share. As a group, equities research analysts predict that Johnson Outdoors Inc. will post -0.58 earnings per share for the current year.

Johnson Outdoors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend was Thursday, April 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.