Smith International said on May 4, 2023 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Previously, the company paid $0.00 per share.
Shares must be purchased before the ex-div date of May 12, 2023 to qualify for the dividend. Shareholders of record as of May 15, 2023 will receive the payment on May 30, 2023.
At the current share price of $34.95 / share, the stock's dividend yield is 2.86%.
Additionally, the company's dividend payout ratio is 0.16. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 161 funds or institutions reporting positions in Smith International. This is an increase of 11 owner(s) or 7.33% in the last quarter. Average portfolio weight of all funds dedicated to SII is 0.21%, a decrease of 29.79%. Total shares owned by institutions increased in the last three months by 1.59% to 9,166K shares. 
The put/call ratio of SII is 0.49, indicating a bullish outlook.
Analyst Price Forecast Suggests 8.49% Upside
As of April 24, 2023, the average one-year price target for Smith International is 37.92. The forecasts range from a low of 32.08 to a high of $42.65. The average price target represents an increase of 8.49% from its latest reported closing price of 34.95.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Smith International is 175MM. The projected annual non-GAAP EPS is 1.42.
What are Other Shareholders Doing?
Waratah Capital Advisors holds 1,025K shares representing 4.05% ownership of the company. In it's prior filing, the firm reported owning 972K shares, representing an increase of 5.16%. The firm decreased its portfolio allocation in SII by 99.89% over the last quarter.
Royce & Associates holds 904K shares representing 3.57% ownership of the company. In it's prior filing, the firm reported owning 931K shares, representing a decrease of 3.07%. The firm increased its portfolio allocation in SII by 2.08% over the last quarter.
Bridgewater Associates holds 762K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 762K shares, representing an increase of 0.05%. The firm increased its portfolio allocation in SII by 6.32% over the last quarter.
Kopernik Global Investors holds 622K shares representing 2.46% ownership of the company. No change in the last quarter.
Sun Valley Gold holds 546K shares representing 2.15% ownership of the company. No change in the last quarter.
Sprott Background Information
(This description is provided by the company.)
Sprott is an alternative asset manager and a global leader in precious metal investments. Through its subsidiaries in Canada, the US and Asia, Sprott is dedicated to providing investors with specialized investment strategies that include Exchange Listed Products, Managed Equities, Lending, and Brokerage.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
