TrueMark Investments LLC Makes New Investment in Smith & Wesson Brands, Inc. (NASDAQ:SWBI)

TrueMark Investments LLC bought a new stake in Smith & Wesson Brands, Inc. (NASDAQ:SWBI) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 10,371 shares of the company’s stock, valued at approximately $149,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in Smith & Wesson Brands by 311.0% in the second quarter. Blue Trust Inc. now owns 2,133 shares of the company’s stock valued at $31,000 after buying an additional 1,614 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Smith & Wesson Brands by 1,255.8% during the 4th quarter. International Assets Investment Management LLC now owns 3,037 shares of the company’s stock worth $41,000 after purchasing an additional 2,813 shares during the period. Allspring Global Investments Holdings LLC grew its position in Smith & Wesson Brands by 1,653.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,256 shares of the company’s stock worth $161,000 after purchasing an additional 8,728 shares during the last quarter. Jump Financial LLC purchased a new position in Smith & Wesson Brands during the 4th quarter worth $176,000. Finally, Virtu Financial LLC acquired a new position in Smith & Wesson Brands in the fourth quarter valued at $180,000. Hedge funds and other institutional investors own 59.33% of the company’s stock.

Smith & Wesson Brands Stock Performance

Shares of NASDAQ SWBI traded down $0.24 during mid-day trading on Friday, hitting $14.74. 291,068 shares of the company were exchanged, compared to its average volume of 387,894. The stock has a 50 day simple moving average of $14.96 and a 200-day simple moving average of $15.73. The firm has a market cap of $671.55 million, a price-to-earnings ratio of 17.14 and a beta of 1.09. Smith & Wesson Brands, Inc. has a 1-year low of $10.38 and a 1-year high of $18.05. The company has a quick ratio of 1.32, a current ratio of 2.98 and a debt-to-equity ratio of 0.19.

Smith & Wesson Brands (NASDAQ:SWBI) last released its quarterly earnings results on Thursday, June 20th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $159.15 million during the quarter, compared to analysts’ expectations of $156.80 million. During the same period in the previous year, the firm posted $0.32 earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year.

Smith & Wesson Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.53%. This is a positive change from Smith & Wesson Brands’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, July 11th. Smith & Wesson Brands’s dividend payout ratio is 60.47%.

Wall Street Analyst Weigh In

Separately, Lake Street Capital raised their price target on Smith & Wesson Brands from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, June 21st.

Insiders Place Their Bets

In other news, Director Robert L. Scott sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $16.07, for a total value of $32,140.00. Following the completion of the transaction, the director now owns 67,569 shares of the company’s stock, valued at $1,085,833.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.99% of the stock is owned by corporate insiders.

Smith & Wesson Brands Profile

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.