Icon Advisers Inc. Co. decreased its position in Brunswick Co. (NYSE:BC) by 14.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 168,270 shares of the company’s stock after selling 28,893 shares during the quarter. Brunswick makes up 1.0% of Icon Advisers Inc. Co.’s portfolio, making the stock its 27th biggest position. Icon Advisers Inc. Co.’s holdings in Brunswick were worth $11,277,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of BC. Voya Investment Management LLC raised its holdings in Brunswick by 84.5% in the second quarter. Voya Investment Management LLC now owns 2,873,040 shares of the company’s stock worth $185,254,000 after purchasing an additional 1,315,663 shares in the last quarter. FMR LLC raised its holdings in Brunswick by 30.3% in the second quarter. FMR LLC now owns 2,704,125 shares of the company’s stock worth $174,362,000 after purchasing an additional 628,227 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in Brunswick by 1,754.3% in the second quarter. OppenheimerFunds Inc. now owns 425,625 shares of the company’s stock worth $27,445,000 after purchasing an additional 402,671 shares in the last quarter. SG Capital Management LLC bought a new position in Brunswick in the third quarter worth $18,507,000. Finally, LSV Asset Management raised its holdings in Brunswick by 52.6% in the second quarter. LSV Asset Management now owns 795,140 shares of the company’s stock worth $51,270,000 after purchasing an additional 274,100 shares in the last quarter. Institutional investors and hedge funds own 96.06% of the company’s stock.
In other news, insider John C. Pfeifer sold 5,446 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $66.95, for a total transaction of $364,609.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.
Shares of NYSE:BC opened at $53.45 on Wednesday. Brunswick Co. has a 1-year low of $48.27 and a 1-year high of $69.82. The company has a quick ratio of 0.65, a current ratio of 1.26 and a debt-to-equity ratio of 0.57. The firm has a market cap of $4.62 billion, a PE ratio of 13.74, a P/E/G ratio of 0.93 and a beta of 1.81.
Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, October 25th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.09. Brunswick had a return on equity of 26.19% and a net margin of 2.12%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.26 billion. On average, sell-side analysts predict that Brunswick Co. will post 4.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 20th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, November 19th. This is an increase from Brunswick’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a dividend yield of 1.57%. Brunswick’s dividend payout ratio (DPR) is presently 19.54%.
BC has been the subject of a number of research reports. Zacks Investment Research downgraded Brunswick from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. Jefferies Financial Group reiterated a “hold” rating and issued a $60.00 price objective on shares of Brunswick in a report on Friday, July 27th. KeyCorp increased their price objective on Brunswick from $75.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Wedbush increased their price objective on Brunswick from $70.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, August 13th. They noted that the move was a valuation call. Finally, Citigroup decreased their price objective on Brunswick from $81.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 15th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $72.00.
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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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