Engineers Gate Manager LP acquired a new position in shares of Brunswick Co. (NYSE:BC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,553 shares of the company’s stock, valued at approximately $487,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Brunswick by 18.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,618 shares of the company’s stock worth $334,000 after buying an additional 861 shares during the period. Amalgamated Bank boosted its holdings in shares of Brunswick by 5.1% during the 1st quarter. Amalgamated Bank now owns 19,191 shares of the company’s stock worth $1,140,000 after buying an additional 934 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Brunswick by 11.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,090 shares of the company’s stock worth $585,000 after buying an additional 940 shares during the period. Fernwood Investment Management LLC boosted its holdings in shares of Brunswick by 10.3% during the 1st quarter. Fernwood Investment Management LLC now owns 12,800 shares of the company’s stock worth $760,000 after buying an additional 1,200 shares during the period. Finally, Icon Advisers Inc. Co. boosted its holdings in shares of Brunswick by 0.7% during the 2nd quarter. Icon Advisers Inc. Co. now owns 197,163 shares of the company’s stock worth $12,713,000 after buying an additional 1,400 shares during the period. Institutional investors own 98.90% of the company’s stock.
In other Brunswick news, CEO Mark D. Schwabero sold 16,262 shares of the business’s stock in a transaction dated Thursday, May 31st. The shares were sold at an average price of $63.54, for a total value of $1,033,287.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark D. Schwabero sold 15,237 shares of the business’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $67.45, for a total transaction of $1,027,735.65. Following the completion of the sale, the chairman now directly owns 307,614 shares of the company’s stock, valued at approximately $20,748,564.30. The disclosure for this sale can be found here. Insiders sold a total of 45,029 shares of company stock valued at $2,973,216 in the last three months. Insiders own 1.00% of the company’s stock.
NYSE BC opened at $64.57 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.70 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 1.15 and a beta of 1.71. Brunswick Co. has a 12-month low of $48.04 and a 12-month high of $69.60.
Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, July 26th. The company reported $1.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.55 by ($0.05). The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.35 billion. Brunswick had a net margin of 2.38% and a return on equity of 24.14%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.35 EPS. research analysts forecast that Brunswick Co. will post 4.63 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Tuesday, August 21st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Monday, August 20th. Brunswick’s dividend payout ratio is currently 4.88%.
BC has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Brunswick from a “buy” rating to a “hold” rating in a report on Monday, April 23rd. ValuEngine raised shares of Brunswick from a “hold” rating to a “buy” rating in a report on Tuesday, May 1st. Jefferies Financial Group reaffirmed a “hold” rating and set a $60.00 target price on shares of Brunswick in a report on Friday, July 27th. KeyCorp lifted their target price on shares of Brunswick from $75.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Finally, Imperial Capital lifted their target price on shares of Brunswick from $78.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, July 9th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $73.50.
Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, service parts, and lubricants; and diesel propulsion systems to the recreational and commercial marine markets.
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