Olstein Capital Management L.P. Lowers Stake in Johnson Outdoors Inc. (NASDAQ:JOUT)

Olstein Capital Management L.P. lessened its stake in Johnson Outdoors Inc. (NASDAQ:JOUT) by 18.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,000 shares of the company’s stock after selling 12,000 shares during the period. Olstein Capital Management L.P. owned 0.52% of Johnson Outdoors worth $1,955,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of JOUT. nVerses Capital LLC raised its position in Johnson Outdoors by 100.0% during the 3rd quarter. nVerses Capital LLC now owns 800 shares of the company’s stock worth $29,000 after buying an additional 400 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Johnson Outdoors by 47.9% in the first quarter. BNP Paribas Financial Markets now owns 3,175 shares of the company’s stock valued at $146,000 after buying an additional 1,029 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of Johnson Outdoors by 6.1% during the 2nd quarter. Gabelli Funds LLC now owns 20,900 shares of the company’s stock worth $731,000 after purchasing an additional 1,200 shares during the period. Empowered Funds LLC lifted its stake in shares of Johnson Outdoors by 8.2% in the first quarter. Empowered Funds LLC now owns 16,213 shares of the company’s stock valued at $748,000 after purchasing an additional 1,225 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in shares of Johnson Outdoors in the first quarter valued at $101,000. 64.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Johnson Outdoors from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th.

Johnson Outdoors Stock Up 0.9 %

Shares of JOUT stock traded up $0.32 during trading hours on Thursday, hitting $34.32. 723 shares of the company were exchanged, compared to its average volume of 50,689. The firm has a fifty day moving average of $34.89 and a 200 day moving average of $36.20. Johnson Outdoors Inc. has a 1 year low of $31.60 and a 1 year high of $55.30. The firm has a market cap of $353.50 million, a PE ratio of -41.98, a PEG ratio of 1.60 and a beta of 0.71.

Johnson Outdoors (NASDAQ:JOUT) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). Johnson Outdoors had a negative net margin of 1.42% and a negative return on equity of 1.65%. The company had revenue of $172.47 million during the quarter, compared to analyst estimates of $176.14 million. During the same quarter last year, the business earned $1.44 EPS. Analysts expect that Johnson Outdoors Inc. will post -0.23 earnings per share for the current year.

Johnson Outdoors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, October 9th. This represents a $1.32 annualized dividend and a yield of 3.85%. Johnson Outdoors’s dividend payout ratio is presently -162.96%.

About Johnson Outdoors

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.