Diamond Hill Capital Management LLC Investment Advisor Takes Position in Johnson Outdoors Inc. $JOUT

Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Johnson Outdoors Inc. (NASDAQ:JOUT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 23,394 shares of the company’s stock, valued at approximately $1,077,000. Diamond Hill Capital Management LLC Investment Advisor owned approximately 0.22% of Johnson Outdoors as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sei Investments Co. grew its position in Johnson Outdoors by 120.4% in the first quarter. Sei Investments Co. now owns 50,559 shares of the company’s stock valued at $2,352,000 after purchasing an additional 27,621 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Johnson Outdoors by 19.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 119,451 shares of the company’s stock worth $5,606,000 after buying an additional 19,769 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of Johnson Outdoors by 235.4% in the 1st quarter. Ritholtz Wealth Management now owns 17,380 shares of the company’s stock valued at $808,000 after acquiring an additional 12,198 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of Johnson Outdoors by 4.4% in the fourth quarter. Gamco Investors INC. ET AL now owns 418,100 shares of the company’s stock valued at $17,748,000 after acquiring an additional 17,700 shares during the last quarter. Finally, Illumine Investment Management LLC bought a new stake in Johnson Outdoors during the first quarter worth about $955,000. 64.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JOUT has been the subject of a number of analyst reports. Wall Street Zen downgraded Johnson Outdoors from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Johnson Outdoors in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Johnson Outdoors has an average rating of “Reduce”.

Johnson Outdoors Trading Down 0.9%

NASDAQ:JOUT opened at $47.74 on Tuesday. The stock has a 50 day simple moving average of $46.23 and a 200 day simple moving average of $47.04. The stock has a market cap of $500.32 million, a P/E ratio of -56.16, a PEG ratio of 2.37 and a beta of 0.81. Johnson Outdoors Inc. has a 1-year low of $35.65 and a 1-year high of $53.54.

Johnson Outdoors (NASDAQ:JOUT) last posted its quarterly earnings data on Friday, August 7th. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.74. Johnson Outdoors had a positive return on equity of 4.26% and a negative net margin of 1.21%.The firm had revenue of $189.73 million for the quarter, compared to analysts’ expectations of $186.19 million. As a group, sell-side analysts forecast that Johnson Outdoors Inc. will post 1.45 EPS for the current year.

Johnson Outdoors Announces Dividend

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

Johnson Outdoors Company 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.