Truist Financial Corp Takes Position in Smith & Wesson Brands, Inc. (NASDAQ:SWBI)

Truist Financial Corp purchased a new position in shares of Smith & Wesson Brands, Inc. (NASDAQ:SWBI) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,153 shares of the company’s stock, valued at approximately $125,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SWBI. First Trust Advisors LP increased its stake in Smith & Wesson Brands by 648.3% during the 1st quarter. First Trust Advisors LP now owns 559,992 shares of the company’s stock worth $8,473,000 after buying an additional 485,152 shares during the period. Federated Hermes Inc. raised its stake in shares of Smith & Wesson Brands by 607.7% in the 1st quarter. Federated Hermes Inc. now owns 195,736 shares of the company’s stock valued at $2,961,000 after purchasing an additional 168,077 shares in the last quarter. LSV Asset Management raised its stake in shares of Smith & Wesson Brands by 47.3% in the 1st quarter. LSV Asset Management now owns 460,400 shares of the company’s stock valued at $6,966,000 after purchasing an additional 147,800 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Smith & Wesson Brands by 25.4% in the 4th quarter. American Century Companies Inc. now owns 506,928 shares of the company’s stock valued at $4,400,000 after purchasing an additional 102,588 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Smith & Wesson Brands by 13.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 777,785 shares of the company’s stock valued at $6,751,000 after purchasing an additional 89,502 shares in the last quarter. Hedge funds and other institutional investors own 54.44% of the company’s stock.

Smith & Wesson Brands Stock Performance

Shares of Smith & Wesson Brands stock opened at $11.83 on Wednesday. The firm has a market cap of $545.87 million, a PE ratio of 14.79 and a beta of 1.22. The firm’s 50-day simple moving average is $12.80 and its 200-day simple moving average is $12.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.32 and a current ratio of 3.35. Smith & Wesson Brands, Inc. has a 1 year low of $8.20 and a 1 year high of $13.89.

Smith & Wesson Brands (NASDAQ:SWBI) last issued its earnings results on Thursday, June 22nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $144.78 million for the quarter, compared to analyst estimates of $138.38 million. Smith & Wesson Brands had a net margin of 7.69% and a return on equity of 11.63%. The company’s revenue for the quarter was down 20.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.82 EPS.

Smith & Wesson Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Investors of record on Thursday, July 13th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend was Wednesday, July 12th. This is an increase from Smith & Wesson Brands’s previous quarterly dividend of $0.10. Smith & Wesson Brands’s dividend payout ratio is currently 60.00%.

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.