Denali Advisors LLC Purchases 48,700 Shares of Smith & Wesson Brands, Inc. (NASDAQ:SWBI)

Denali Advisors LLC grew its stake in shares of Smith & Wesson Brands, Inc. (NASDAQ:SWBI) by 42.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 164,116 shares of the company’s stock after buying an additional 48,700 shares during the period. Denali Advisors LLC owned approximately 0.36% of Smith & Wesson Brands worth $2,849,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SWBI. Janney Montgomery Scott LLC bought a new position in Smith & Wesson Brands during the third quarter worth about $130,000. Teza Capital Management LLC lifted its holdings in shares of Smith & Wesson Brands by 110.4% during the 3rd quarter. Teza Capital Management LLC now owns 37,798 shares of the company’s stock valued at $488,000 after purchasing an additional 19,832 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Smith & Wesson Brands by 2.6% during the 3rd quarter. American Century Companies Inc. now owns 565,936 shares of the company’s stock valued at $7,306,000 after purchasing an additional 14,563 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Smith & Wesson Brands by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 3,514,160 shares of the company’s stock valued at $45,368,000 after purchasing an additional 92,985 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Smith & Wesson Brands by 26.7% during the 4th quarter. SG Americas Securities LLC now owns 25,164 shares of the company’s stock valued at $341,000 after purchasing an additional 5,302 shares in the last quarter. Institutional investors own 59.33% of the company’s stock.

Wall Street Analysts Forecast Growth

SWBI has been the topic of several recent analyst reports. Lake Street Capital lifted their price objective on Smith & Wesson Brands from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, June 21st. Craig Hallum raised Smith & Wesson Brands from a “hold” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $18.00 in a research report on Friday, March 8th.

Insider Transactions at Smith & Wesson Brands

In other news, Director Robert L. Scott sold 2,000 shares of Smith & Wesson Brands stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $14.80, for a total transaction of $29,600.00. Following the completion of the transaction, the director now directly owns 69,569 shares in the company, valued at approximately $1,029,621.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.99% of the stock is currently owned by corporate insiders.

Smith & Wesson Brands Stock Up 1.1 %

Shares of NASDAQ:SWBI traded up $0.16 during trading on Wednesday, hitting $14.22. 233,292 shares of the company were exchanged, compared to its average volume of 403,722. The stock has a market cap of $647.86 million, a price-to-earnings ratio of 16.35 and a beta of 1.09. Smith & Wesson Brands, Inc. has a fifty-two week low of $10.38 and a fifty-two week high of $18.05. The firm has a fifty day moving average price of $16.10 and a two-hundred day moving average price of $15.27. The company has a current ratio of 2.98, a quick ratio of 1.32 and a debt-to-equity ratio of 0.19.

Smith & Wesson Brands (NASDAQ:SWBI) last posted its quarterly earnings results on Thursday, June 20th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.10. Smith & Wesson Brands had a return on equity of 11.03% and a net margin of 7.39%. The firm had revenue of $159.15 million for the quarter, compared to analyst estimates of $156.80 million. During the same quarter in the previous year, the firm earned $0.32 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis.

Smith & Wesson Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be paid a dividend of $0.13 per share. This is an increase from Smith & Wesson Brands’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Thursday, July 11th. Smith & Wesson Brands’s payout ratio is currently 55.81%.

About Smith & Wesson Brands

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.