Wallace Capital Management Inc. boosted its position in shares of Johnson Outdoors Inc. (NASDAQ:JOUT - Free Report) by 11.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 370,329 shares of the company's stock after buying an additional 37,433 shares during the period. Johnson Outdoors makes up about 1.8% of Wallace Capital Management Inc.'s portfolio, making the stock its 13th biggest holding. Wallace Capital Management Inc. owned about 3.60% of Johnson Outdoors worth $13,406,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC boosted its stake in Johnson Outdoors by 100.0% during the third quarter. nVerses Capital LLC now owns 800 shares of the company's stock worth $29,000 after buying an additional 400 shares during the period. FMR LLC grew its stake in shares of Johnson Outdoors by 94.0% during the third quarter. FMR LLC now owns 1,335 shares of the company's stock valued at $48,000 after buying an additional 647 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Johnson Outdoors in the second quarter worth approximately $238,000. Ballentine Partners LLC bought a new stake in shares of Johnson Outdoors during the 3rd quarter worth approximately $253,000. Finally, Howard Financial Services LTD. purchased a new stake in shares of Johnson Outdoors during the third quarter valued at $290,000. 64.05% of the stock is owned by institutional investors.
Johnson Outdoors Stock Performance
Johnson Outdoors stock traded up $0.32 during midday trading on Friday, hitting $33.48. 44,629 shares of the company's stock were exchanged, compared to its average volume of 48,978. Johnson Outdoors Inc. has a 12 month low of $31.60 and a 12 month high of $54.50. The company has a market cap of $344.84 million, a PE ratio of -40.94, a P/E/G ratio of 1.65 and a beta of 0.71. The firm has a 50-day moving average of $33.61 and a two-hundred day moving average of $35.32.
Johnson Outdoors Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Thursday, January 9th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.94%. Johnson Outdoors's payout ratio is -162.96%.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded Johnson Outdoors from a "sell" rating to a "hold" rating in a report on Thursday, August 8th.
Get Our Latest Research Report on Johnson Outdoors
Johnson Outdoors Company Profile
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Free Report)
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.
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