Hanson Capital Partners LLC has filed a plan with the Securities & Exchange Commission (SEC) to sell up to 700,000 shares of Winnebago Industries Inc. stock before tMarch 31.
Hanson Capital is an investment company controlled by the descendants of Winnebago founder John K. Hanson, and as of Wednesday (Nov. 12), it owned almost 3.4 million Winnebago shares, or about 20% of the Forest City, Iowa-based motorhome manufacturer.
John V. Hanson, son of the late John K. Hanson, managing director of Hanson Capital and a member of Winnebago’s Board of Directors, said the trading plan was filed with the SEC as part of the family and Hanson Capital’s strategy, which has been in effect since 1997, “to diversify its investment portfolio in an orderly manner.”
If Hanson Capital does sell 700,000 shares, it would have reduced its stake in Winnebago to around 15% of the company’s 18.2 million outstanding shares.
The stock sales are expected to occur from time to time “in amounts dependent upon the prevailing market price,” according to a Winnebago statement.
The trading plan could be terminated prior to March 31 in accordance with its terms.
Winnebago stock closed at $54.35 a share in New York Stock Exchange trading on Thursday, which puts the company’s stock price near its 52-week high of $59.25 a share. The 52-week low for Winnebago stock is $23.31 a share.