Emerald Acquisition Ltd. Buys New Stake in Brunswick Corp. (BC)
Emerald Acquisition Ltd. bought a new position in Brunswick Corp. (NYSE:BC) during the second quarter, Holdings Channel reports. The firm bought 96,613 shares of the company’s stock, valued at approximately $4,377,000. Emerald Acquisition Ltd. owned about 0.11% of Brunswick Corp. at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in BC. World Asset Management Inc raised its stake in Brunswick Corp. by 0.3% in the second quarter. World Asset Management Inc now owns 4,441 shares of the company’s stock worth $201,000 after buying an additional 12 shares during the last quarter. BlackRock Japan Co. Ltd increased its position 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 during the last quarter. Investors Capital Advisory Services purchased a new position in Brunswick Corp. during the second quarter worth about $221,000. LPL Financial LLC purchased a new position in Brunswick Corp. during the first quarter worth about $222,000. Finally, LS Investment Advisors LLC increased its position 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 during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.
Shares of Brunswick Corp. (NYSE:BC) traded up 0.31% during midday trading on Friday, reaching $45.79. The company’s stock had a trading volume of 1,468,709 shares. The company has a market cap of $4.13 billion, a P/E ratio of 17.82 and a beta of 1.96. Brunswick Corp. has a 12-month low of $36.05 and a 12-month high of $55.65. The stock’s 50-day moving average price is $47.59 and its 200-day moving average price is $47.19.
Brunswick Corp. (NYSE:BC) last posted its earnings results on Thursday, July 28th. The company reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.01. Brunswick Corp. had a return on equity of 22.51% and a net margin of 5.58%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the business earned $1.05 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, analysts expect that Brunswick Corp. will post $3.48 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd were issued a $0.15 dividend. The ex-dividend date was Friday, August 19th. This represents a $0.60 annualized dividend and a dividend yield of 1.31%. Brunswick Corp.’s dividend payout ratio is presently 23.26%.
A number of research firms have recently issued reports on BC. B. Riley reissued a “buy” rating and set a $65.00 price target on shares of Brunswick Corp. in a research report on Saturday, August 27th. Zacks Investment Research raised Brunswick Corp. from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Tuesday, August 2nd. Off Wall Street began coverage on Brunswick Corp. in a research report on Monday, July 18th. They set a “sell” rating on the stock. Robert W. Baird reissued an “outperform” rating and set a $60.00 price target on shares of Brunswick Corp. in a research report on Wednesday, July 6th. Finally, Wedbush reissued an “outperform” rating and set a $60.00 price target on shares of Brunswick Corp. in a research report on Saturday, July 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $56.09.
In related news, CFO William Metzger sold 19,051 shares of the business’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $49.52, for a total value of $943,405.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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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