Louisiana State Employees Retirement System reduced its position in shares of Brunswick Corp. (NYSE:BC) by 4.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 24,100 shares of the company’s stock after selling 1,100 shares during the period. Louisiana State Employees Retirement System’s holdings in Brunswick Corp. were worth $1,092,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Japan Co. Ltd boosted its stake in Brunswick Corp. by 362.8% in the first quarter. BlackRock Japan Co. Ltd now owns 4,272 shares of the company’s stock worth $205,000 after buying an additional 3,349 shares in the last quarter. LS Investment Advisors LLC boosted its stake in Brunswick Corp. by 63.7% in the second quarter. LS Investment Advisors LLC now owns 5,532 shares of the company’s stock worth $251,000 after buying an additional 2,152 shares in the last quarter. Capstone Asset Management Co. boosted its stake in Brunswick Corp. by 2.6% in the second quarter. Capstone Asset Management Co. now owns 7,202 shares of the company’s stock worth $326,000 after buying an additional 180 shares in the last quarter. Kempen Capital Management N.V. boosted its stake in Brunswick Corp. by 116.0% in the first quarter. Kempen Capital Management N.V. now owns 7,946 shares of the company’s stock worth $381,000 after buying an additional 4,267 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in Brunswick Corp. during the first quarter worth $407,000. Institutional investors and hedge funds own 95.26% of the company’s stock.
Brunswick Corp. (NYSE:BC) traded up 1.10% during trading on Friday, hitting $48.78. 882,555 shares of the stock traded hands. The firm’s 50-day moving average is $47.06 and its 200-day moving average is $47.50. Brunswick Corp. has a 12 month low of $36.05 and a 12 month high of $55.65. The stock has a market cap of $4.40 billion, a P/E ratio of 18.98 and a beta of 1.96.
Brunswick Corp. (NYSE:BC) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.01. The firm earned $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. Brunswick Corp. had a return on equity of 22.51% and a net margin of 5.58%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 earnings per share. On average, analysts forecast that Brunswick Corp. will post $3.48 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Friday, August 19th. Brunswick Corp.’s dividend payout ratio (DPR) is 23.26%.
A number of analysts have recently weighed in on BC shares. B. Riley restated a “buy” rating and issued a $65.00 price target on shares of Brunswick Corp. in a report on Saturday, August 27th. Zacks Investment Research upgraded shares of Brunswick Corp. from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Tuesday, August 2nd. Imperial Capital started coverage on shares of Brunswick Corp. in a report on Tuesday. They issued an “outperform” rating and a $60.00 price target on the stock. Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of Brunswick Corp. in a report on Saturday, July 2nd. Finally, Robert W. Baird reaffirmed an “outperform” rating on shares of Brunswick Corp. in a research report on Saturday, June 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $56.42.
In related news, CFO William Metzger sold 19,051 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $49.52, for a total value of $943,405.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is owned by corporate insiders.
About Brunswick Corp.
Brunswick Corporation (Brunswick) is a designer, manufacturer and marketer of recreation products, including marine engines, boats, fitness and active recreation products. The Company operates in three segments, which include Marine Engine, Boat and Fitness. The Marine Engine segment manufactures and markets a range of outboard engines, sterndrive engines, inboard engines and marine parts and accessories, which are principally sold directly to boat builders, including Brunswick’s Boat segment, or through marine retail dealers and distributors across the world.
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