Principal Financial Group Inc. Acquires Shares of 60,572 American Outdoor Brands Corporation (NASDAQ:AOBC)

Principal Financial Group Inc. purchased a new position in shares of American Outdoor Brands Corporation (NASDAQ:AOBC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,572 shares of the company’s stock, valued at approximately $1,200,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in American Outdoor Brands Corporation during the first quarter worth about $297,000. DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in American Outdoor Brands Corporation during the first quarter worth about $306,000. IFP Advisors Inc purchased a new stake in American Outdoor Brands Corporation during the first quarter worth about $368,000. Russell Investments Group Ltd. purchased a new stake in American Outdoor Brands Corporation during the first quarter worth about $1,283,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in American Outdoor Brands Corporation during the first quarter worth about $111,000. Institutional investors and hedge funds own 71.08% of the company’s stock.

American Outdoor Brands Corporation (AOBC) traded up 1.13% on Friday, reaching $18.78. The company had a trading volume of 1,208,921 shares. The stock has a market capitalization of $1.01 billion, a P/E ratio of 8.35 and a beta of 0.01. The stock’s 50 day moving average is $20.48 and its 200-day moving average is $21.03. American Outdoor Brands Corporation has a 1-year low of $17.50 and a 1-year high of $30.08.

American Outdoor Brands Corporation (NASDAQ:AOBC) last released its quarterly earnings results on Thursday, June 29th. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.19. The company had revenue of $229.20 million for the quarter, compared to analysts’ expectations of $210.82 million. American Outdoor Brands Corporation had a return on equity of 37.76% and a net margin of 13.87%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts predict that American Outdoor Brands Corporation will post $1.56 EPS for the current fiscal year.

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A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded American Outdoor Brands Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Wunderlich reaffirmed a “hold” rating and set a $22.00 price objective on shares of American Outdoor Brands Corporation in a research report on Friday, June 23rd. ValuEngine cut American Outdoor Brands Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Jefferies Group LLC reaffirmed a “hold” rating on shares of American Outdoor Brands Corporation in a research report on Friday, June 2nd. Finally, Wedbush lifted their price objective on American Outdoor Brands Corporation from $21.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, June 2nd. Nine equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $23.34.

In other news, Director Robert L. Scott sold 10,000 shares of American Outdoor Brands Corporation stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the director now owns 57,448 shares of the company’s stock, valued at $1,378,752. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.31% of the company’s stock.

About American Outdoor Brands Corporation

American Outdoor Brands Corporation, formerly Smith & Wesson Holding Corporation, is a manufacturer of firearms and a provider of accessory products for the shooting, hunting and outdoor enthusiast. The Company operates through two segments. The Firearms segment manufactures handgun and long gun products sold under the Smith & Wesson, M&P and Thompson/Center Arms brands, as well as providing forging, machining and precision plastic injection molding services.

Institutional Ownership by Quarter for American Outdoor Brands Corporation (NASDAQ:AOBC)

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