Olstein Capital Management L.P. Buys 7,000 Shares of Johnson Outdoors Inc. (NASDAQ:JOUT)

Olstein Capital Management L.P. raised its stake in shares of Johnson Outdoors Inc. (NASDAQ:JOUT) by 15.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 51,000 shares of the company’s stock after acquiring an additional 7,000 shares during the period. Olstein Capital Management L.P.’s holdings in Johnson Outdoors were worth $2,352,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of JOUT. SG Americas Securities LLC purchased a new stake in shares of Johnson Outdoors during the fourth quarter valued at approximately $101,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Johnson Outdoors in the 3rd quarter valued at $239,000. Gabelli Funds LLC increased its position in shares of Johnson Outdoors by 20.4% during the 4th quarter. Gabelli Funds LLC now owns 17,700 shares of the company’s stock valued at $946,000 after purchasing an additional 3,000 shares during the last quarter. Diversified Investment Strategies LLC raised its stake in shares of Johnson Outdoors by 25.0% during the 4th quarter. Diversified Investment Strategies LLC now owns 23,930 shares of the company’s stock worth $1,278,000 after purchasing an additional 4,790 shares during the period. Finally, Denali Advisors LLC boosted its holdings in shares of Johnson Outdoors by 6.7% in the 1st quarter. Denali Advisors LLC now owns 30,300 shares of the company’s stock worth $1,397,000 after buying an additional 1,900 shares during the last quarter. 64.05% of the stock is owned by hedge funds and other institutional investors.

Johnson Outdoors Stock Up 1.3 %

NASDAQ JOUT traded up $0.45 during trading hours on Wednesday, reaching $34.40. 59,185 shares of the company were exchanged, compared to its average volume of 54,715. The stock has a market capitalization of $354.32 million, a P/E ratio of 72.23, a P/E/G ratio of 2.21 and a beta of 0.74. Johnson Outdoors Inc. has a 1 year low of $33.17 and a 1 year high of $60.90. The business’s 50 day simple moving average is $36.57 and its 200-day simple moving average is $42.83.

Johnson Outdoors (NASDAQ:JOUT) last released its earnings results on Friday, May 3rd. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). The company had revenue of $175.86 million for the quarter, compared to the consensus estimate of $158.76 million. Johnson Outdoors had a net margin of 0.82% and a return on equity of 0.97%. As a group, sell-side analysts anticipate that Johnson Outdoors Inc. will post 1.13 earnings per share for the current year.

Johnson Outdoors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.32 annualized dividend and a dividend yield of 3.84%. Johnson Outdoors’s payout ratio is presently 280.85%.

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.