Briggs & Stratton Co. (BGG) Position Boosted by SG Americas Securities LLC

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SG Americas Securities LLC increased its position in shares of Briggs & Stratton Co. (NYSE:BGG) by 79.0% during the second quarter, Holdings Channel reports. The institutional investor owned 20,172 shares of the industrial products company’s stock after purchasing an additional 8,900 shares during the period. SG Americas Securities LLC’s holdings in Briggs & Stratton were worth $355,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Cornercap Investment Counsel Inc. increased its holdings in Briggs & Stratton by 9.2% during the first quarter. Cornercap Investment Counsel Inc. now owns 32,795 shares of the industrial products company’s stock worth $702,000 after buying an additional 2,770 shares during the last quarter. Swiss National Bank increased its holdings in Briggs & Stratton by 5.1% during the first quarter. Swiss National Bank now owns 74,600 shares of the industrial products company’s stock worth $1,597,000 after buying an additional 3,600 shares during the last quarter. Federated Investors Inc. PA increased its holdings in Briggs & Stratton by 3.6% during the first quarter. Federated Investors Inc. PA now owns 114,569 shares of the industrial products company’s stock worth $2,453,000 after buying an additional 4,002 shares during the last quarter. Aperio Group LLC increased its holdings in Briggs & Stratton by 32.3% during the second quarter. Aperio Group LLC now owns 17,550 shares of the industrial products company’s stock worth $309,000 after buying an additional 4,286 shares during the last quarter. Finally, Boston Private Wealth LLC increased its holdings in shares of Briggs & Stratton by 15.4% in the first quarter. Boston Private Wealth LLC now owns 35,990 shares of the industrial products company’s stock valued at $771,000 after purchasing an additional 4,805 shares during the last quarter. Institutional investors and hedge funds own 82.48% of the company’s stock.

Several equities analysts have commented on BGG shares. ValuEngine downgraded shares of Briggs & Stratton from a “sell” rating to a “strong sell” rating in a report on Friday, June 1st. Zacks Investment Research upgraded shares of Briggs & Stratton from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. Sidoti downgraded shares of Briggs & Stratton from a “buy” rating to a “neutral” rating and set a $17.00 price objective on the stock. in a report on Thursday, July 19th. Finally, Northcoast Research reiterated a “buy” rating and issued a $25.00 price objective on shares of Briggs & Stratton in a report on Friday, August 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $24.75.

In other news, insider Todd J. Teske sold 87,398 shares of the business’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $20.91, for a total value of $1,827,492.18. Following the completion of the sale, the insider now owns 453,723 shares of the company’s stock, valued at $9,487,347.93. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.30% of the company’s stock.

NYSE:BGG opened at $20.37 on Friday. Briggs & Stratton Co. has a one year low of $16.26 and a one year high of $27.34. The firm has a market capitalization of $870.64 million, a price-to-earnings ratio of 15.79 and a beta of 0.67. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.70 and a current ratio of 1.77.

Briggs & Stratton (NYSE:BGG) last released its quarterly earnings data on Wednesday, August 15th. The industrial products company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.06. Briggs & Stratton had a negative net margin of 0.60% and a positive return on equity of 10.13%. The firm had revenue of $501.69 million for the quarter, compared to the consensus estimate of $495.83 million. During the same period in the previous year, the company earned $0.46 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. analysts predict that Briggs & Stratton Co. will post 1.45 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Tuesday, September 18th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Monday, September 17th. This represents a $0.56 annualized dividend and a dividend yield of 2.75%. Briggs & Stratton’s dividend payout ratio is currently 43.41%.

Briggs & Stratton Profile

Briggs & Stratton Corporation designs, manufactures, markets, sells, and services gasoline engines for outdoor power equipment to the original equipment manufacturers in the United States. It operates in two segments, Engines and Products. The Engines segment offers four-cycle aluminum alloy gasoline engines that are used primarily by the lawn and garden equipment industry.

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Institutional Ownership by Quarter for Briggs & Stratton (NYSE:BGG)

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