Brunswick Corporation (BC) Stake Decreased by Stoneridge Investment Partners LLC
Stoneridge Investment Partners LLC decreased its stake in Brunswick Corporation (NYSE:BC) by 70.6% during the third quarter, Holdings Channel reports. The fund owned 17,653 shares of the company’s stock after selling 42,290 shares during the period. Stoneridge Investment Partners LLC’s holdings in Brunswick Corporation were worth $861,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of BC. Advisors Asset Management Inc. bought a new position in shares of Brunswick Corporation during the second quarter worth $109,000. Advisor Group Inc. bought a new position in shares of Brunswick Corporation during the second quarter worth $210,000. Virginia Retirement Systems ET AL bought a new position in shares of Brunswick Corporation during the second quarter worth $231,000. Tower Research Capital LLC TRC raised its position in shares of Brunswick Corporation by 1,163.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,156 shares of the company’s stock worth $234,000 after buying an additional 4,748 shares in the last quarter. Finally, LS Investment Advisors LLC raised its position in shares of Brunswick Corporation 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. 96.83% of the stock is currently owned by institutional investors and hedge funds.
Brunswick Corporation (NYSE:BC) traded up 1.05% during trading on Friday, hitting $55.95. 512,865 shares of the company’s stock traded hands. Brunswick Corporation has a 12-month low of $36.05 and a 12-month high of $57.05. The stock has a market cap of $5.02 billion, a P/E ratio of 20.81 and a beta of 2.01. The firm’s 50-day moving average price is $54.06 and its 200 day moving average price is $48.98.
Brunswick Corporation (NYSE:BC) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by $0.01. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Brunswick Corporation had a net margin of 5.67% and a return on equity of 22.74%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 EPS. Analysts anticipate that Brunswick Corporation will post $3.47 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Tuesday, November 22nd were paid a dividend of $0.165 per share. This is an increase from Brunswick Corporation’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, November 18th. This represents a $0.66 annualized dividend and a dividend yield of 1.18%. Brunswick Corporation’s dividend payout ratio is presently 24.44%.
A number of research firms have weighed in on BC. Zacks Investment Research lowered shares of Brunswick Corporation from a “hold” rating to a “sell” rating in a research note on Friday, October 14th. Imperial Capital began coverage on shares of Brunswick Corporation in a research note on Tuesday, September 27th. They issued an “outperform” rating and a $60.00 target price on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $60.00 target price on shares of Brunswick Corporation in a research note on Saturday, October 15th. CL King began coverage on shares of Brunswick Corporation in a research note on Thursday, December 22nd. They issued a “buy” rating and a $65.00 target price on the stock. Finally, RBC Capital Markets reissued a “buy” rating and issued a $57.00 target price on shares of Brunswick Corporation in a research note on Tuesday, January 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company. Brunswick Corporation has an average rating of “Buy” and an average price target of $59.00.
In related news, insider John C. Pfeifer sold 19,193 shares of the company’s stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $54.95, for a total transaction of $1,054,655.35. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.50% of the company’s stock.
Brunswick Corporation Company Profile
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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