Minerva Advisors LLC raised its stake in shares of Escalade Inc. (NASDAQ:ESCA) by 19.8% during the second quarter, Holdings Channel reports. The fund owned 415,960 shares of the company’s stock after buying an additional 68,738 shares during the period. Escalade comprises approximately 2.9% of Minerva Advisors LLC’s portfolio, making the stock its 11th largest position. Minerva Advisors LLC’s holdings in Escalade were worth $4,260,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in ESCA. Parthenon LLC raised its position in Escalade by 24.4% in the second quarter. Parthenon LLC now owns 152,240 shares of the company’s stock valued at $1,559,000 after buying an additional 29,893 shares during the last quarter. Skylands Capital LLC raised its position in Escalade by 79.3% in the second quarter. Skylands Capital LLC now owns 34,700 shares of the company’s stock valued at $355,000 after buying an additional 15,350 shares during the last quarter. North Star Investment Management Corp. raised its position in Escalade by 31.8% in the second quarter. North Star Investment Management Corp. now owns 340,205 shares of the company’s stock valued at $3,484,000 after buying an additional 82,104 shares during the last quarter. Finally, State Street Corp raised its position in Escalade by 0.8% in the first quarter. State Street Corp now owns 110,060 shares of the company’s stock valued at $1,297,000 after buying an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 24.70% of the company’s stock.
Shares of Escalade Inc. (NASDAQ:ESCA) traded down 0.81% during midday trading on Friday, reaching $12.22. The company’s stock had a trading volume of 3,517 shares. The stock has a market capitalization of $174.39 million, a PE ratio of 20.03 and a beta of 0.37. The stock has a 50-day moving average price of $12.41 and a 200 day moving average price of $11.28. Escalade Inc. has a 52 week low of $9.70 and a 52 week high of $18.90.
Escalade (NASDAQ:ESCA) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. The business earned $48.50 million during the quarter, compared to analyst estimates of $44.35 million. Escalade had a return on equity of 8.99% and a net margin of 5.38%. Equities analysts forecast that Escalade Inc. will post $0.84 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Monday, September 12th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Thursday, September 8th. Escalade’s dividend payout ratio is presently 72.13%.
Several research firms recently commented on ESCA. Zacks Investment Research lowered Escalade from a “hold” rating to a “strong sell” rating in a research note on Monday, July 11th. Wunderlich dropped their price target on Escalade from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, June 20th.
Escalade, Incorporated (Escalade) is a manufacturer and distributor of sporting goods through its subsidiary Escalade Sports. The Company operates in Sporting Goods (Escalade Sports) segment. Escalade Sports manufactures, imports and distributes sporting goods brands in basketball goals, archery, indoor and outdoor game recreation and fitness products through sporting goods retailers, specialty dealers, key online retailers, traditional department stores and mass merchants.
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