Johnson Outdoors Inc. (NASDAQ:JOUT – Get Rating) saw a sharp drop in short interest in December. On December 15th there was short interest totaling 127,300 shares, down 14.8% from the total of 149,500 shares on November 30th. Currently, 1.6% of the company’s shares are shorted. Based on an average trading volume of 40,000 shares, the days-to-cover ratio is currently 3.2 days.
Institutional inflows and outflows
A number of institutional investors have recently changed their holdings in JOUT. Copeland Capital Management LLC increased its stake in Johnson Outdoors by 79.0% in the second quarter. Copeland Capital Management LLC now owns 494 shares of the company’s stock valued at $30,000 after purchasing an additional 218 shares last quarter. Rockefeller Capital Management LP acquired a new $33,000 stake in Johnson Outdoors stock during the third quarter. Quantbot Technologies LP acquired a new stake in Johnson Outdoors stock valued at $46,000 during the first quarter. Lazard Asset Management LLC increased its position in shares of Johnson Outdoors by 15,650.0% during the third quarter. Lazard Asset Management LLC now owns 945 shares of the company’s stock valued at $48,000 after purchasing an additional 939 shares last quarter. Finally, Amalgamated Bank acquired a new $60,000 stake in Johnson Outdoors stock during the first quarter. Institutional investors and hedge funds own 60.15% of the company’s shares.
Analyst upgrades and downgrades
Separately, on Wednesday, October 12, StockNews.com began coverage of Johnson Outdoors in a research note. They give the company a “hold” rating.
Johnson Outdoors trading down 1.1%
JOUT stock fell $0.71 during Monday’s trading to hit $66.12. 5,831 shares of the Company were exchanged compared to an average volume of 35,886. The company has a 50-day moving average price of $58.49 and a 200-day moving average price of $59.63. The stock has a market cap of $673.96 million, a price-to-earnings ratio of 15.13 and a beta of 0.83. Johnson Outdoors has a 52-week low of $46.30 and a 52-week high of $96.63.
Johnson Outdoors announces dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 26th. Stockholders of record on Thursday, January 12 will receive a dividend of $0.31 per share. That equates to an annualized dividend of $1.24 and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday 11th January. Johnson Outdoors’ dividend payout ratio (DPR) is 28.38%.
About Johnson Outdoors
Johnson Outdoors Inc designs, manufactures and markets seasonal and outdoor recreational products for the fishing industry worldwide. It operates through four segments: Fishing, Camping, Personal Watercraft Recreation and Diving. The Fishing segment offers electric motors for trolling, battery chargers for boats and shallow water anchors; sonar and GPS equipment for fish finding, navigation and marine cartography; and downriggers for controlled depth fishing.
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