Diamond Hill Capital Management LLC Investment Advisor Purchases New Holdings in Johnson Outdoors Inc. $JOUT

Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Johnson Outdoors Inc. (NASDAQ:JOUT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 23,394 shares of the company’s stock, valued at approximately $1,077,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co lifted its position in shares of Johnson Outdoors by 57.8% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,018 shares of the company’s stock valued at $43,000 after acquiring an additional 373 shares during the period. EverSource Wealth Advisors LLC lifted its position in Johnson Outdoors by 260.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,122 shares of the company’s stock worth $48,000 after purchasing an additional 811 shares during the period. Highlander Partners L.P. bought a new stake in Johnson Outdoors during the fourth quarter worth about $50,000. Kemnay Advisory Services Inc. acquired a new stake in Johnson Outdoors during the fourth quarter worth about $50,000. Finally, Raymond James Financial Inc. bought a new position in Johnson Outdoors in the 2nd quarter valued at about $52,000. 64.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on JOUT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Johnson Outdoors in a research report on Wednesday, August 5th. Wall Street Zen cut Johnson Outdoors from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Johnson Outdoors currently has a consensus rating of “Reduce”.

Johnson Outdoors Price Performance

Johnson Outdoors stock opened at $47.74 on Tuesday. The stock’s 50 day moving average is $46.23 and its 200 day moving average is $47.04. Johnson Outdoors Inc. has a one year low of $35.65 and a one year high of $53.54. The firm has a market cap of $500.32 million, a P/E ratio of -56.16, a P/E/G ratio of 2.37 and a beta of 0.81.

Johnson Outdoors (NASDAQ:JOUT) last announced its earnings results on Friday, August 7th. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $0.68 by $0.74. The company had revenue of $189.73 million for the quarter, compared to analyst estimates of $186.19 million. Johnson Outdoors had a positive return on equity of 4.26% and a negative net margin of 1.21%. Equities analysts anticipate that Johnson Outdoors Inc. will post 1.45 earnings per share for the current fiscal year.

Johnson Outdoors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 16th were issued a dividend of $0.33 per share. The ex-dividend date was Thursday, July 16th. This represents a $1.32 annualized dividend and a yield of 2.8%. Johnson Outdoors’s dividend payout ratio is -155.29%.

Johnson Outdoors Profile

Johnson Outdoors Inc is a diversified outdoor recreation company that develops, manufactures and markets a broad range of gear and equipment for marine and land-based activities. The company operates through two primary segments: the Marine Electronics & Boat Group and the Outdoor Products Group. Its marine offerings include electric motors and anchors under the Minn Kota® brand, fish-finding and sonar systems under the Humminbird® brand, and a lineup of recreational watercraft under the Old Town® and Ocean Kayak® names.