Levin Capital Strategies L.P. Increases Stock Position in Brunswick Corporation $BC

Levin Capital Strategies L.P. increased its holdings in Brunswick Corporation (NYSE:BC) by 6.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,117 shares of the company’s stock after acquiring an additional 5,658 shares during the quarter. Levin Capital Strategies L.P. owned about 0.15% of Brunswick worth $6,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its position in Brunswick by 0.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,494,664 shares of the company’s stock valued at $221,003,000 after buying an additional 11,777 shares in the last quarter. Deprince Race & Zollo Inc. grew its position in Brunswick by 2.5% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 1,852,050 shares of the company’s stock valued at $117,124,000 after purchasing an additional 44,431 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Brunswick by 70.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,700,164 shares of the company’s stock valued at $107,518,000 after purchasing an additional 700,447 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Brunswick by 22.7% in the second quarter. American Century Companies Inc. now owns 1,472,467 shares of the company’s stock worth $81,339,000 after buying an additional 272,815 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Brunswick by 23.2% during the second quarter. Alliancebernstein L.P. now owns 1,420,922 shares of the company’s stock valued at $78,492,000 after acquiring an additional 267,479 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Brunswick Stock Up 1.8%

Brunswick stock opened at $89.19 on Thursday. The company has a market capitalization of $5.78 billion, a P/E ratio of -42.07 and a beta of 1.39. Brunswick Corporation has a fifty-two week low of $41.00 and a fifty-two week high of $90.25. The stock has a 50-day simple moving average of $82.33 and a 200-day simple moving average of $70.81. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 1.44.

Brunswick (NYSE:BC) last announced its earnings results on Thursday, January 29th. The company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Brunswick had a negative net margin of 2.56% and a positive return on equity of 12.22%. The company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 EPS. Equities research analysts expect that Brunswick Corporation will post 4.19 earnings per share for the current year.

Brunswick Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, February 23rd will be paid a $0.44 dividend. This is an increase from Brunswick’s previous quarterly dividend of $0.43. The ex-dividend date is Monday, February 23rd. This represents a $1.76 annualized dividend and a dividend yield of 2.0%. Brunswick’s dividend payout ratio (DPR) is -81.13%.

Insider Buying and Selling

In other news, VP Christopher F. Dekker sold 4,981 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $87.38, for a total value of $435,239.78. Following the transaction, the vice president owned 39,740 shares of the company’s stock, valued at approximately $3,472,481.20. The trade was a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David M. Foulkes sold 38,266 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $86.56, for a total value of $3,312,304.96. Following the sale, the chief executive officer directly owned 271,169 shares of the company’s stock, valued at approximately $23,472,388.64. This represents a 12.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BC. Weiss Ratings restated a “sell (d+)” rating on shares of Brunswick in a research note on Monday, December 29th. Citigroup boosted their target price on Brunswick from $100.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Texas Capital downgraded shares of Brunswick from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Wolfe Research set a $90.00 price objective on shares of Brunswick in a report on Monday, January 12th. Finally, Jefferies Financial Group set a $115.00 target price on shares of Brunswick and gave the stock a “buy” rating in a report on Tuesday, January 6th. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Brunswick currently has a consensus rating of “Hold” and a consensus price target of $84.00.

About Brunswick

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.