Engineers Gate Manager LP Takes Position in Brunswick Co. (BC)

Share on StockTwits

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.

About Brunswick

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.

Featured Story: Price to Earnings Ratio (PE) Basics

Want to see what other hedge funds are holding BC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brunswick Co. (NYSE:BC).

Institutional Ownership by Quarter for Brunswick (NYSE:BC)

Receive News & Ratings for Brunswick Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brunswick and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply