Ontario Teachers Pension Plan Board Sells 18,525 Shares of Brunswick Corporation $BC

Ontario Teachers Pension Plan Board lessened its position in Brunswick Corporation (NYSE:BC) by 26.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,694 shares of the company’s stock after selling 18,525 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Brunswick were worth $3,332,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Allianz Asset Management GmbH lifted its position in shares of Brunswick by 191.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 214,150 shares of the company’s stock worth $13,543,000 after purchasing an additional 140,566 shares during the last quarter. Federated Hermes Inc. increased its position in Brunswick by 26.0% in the 3rd quarter. Federated Hermes Inc. now owns 824,181 shares of the company’s stock worth $52,121,000 after buying an additional 170,030 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Brunswick by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,494,664 shares of the company’s stock worth $221,003,000 after buying an additional 11,777 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Brunswick by 70.1% in the third quarter. Bank of New York Mellon Corp now owns 1,700,164 shares of the company’s stock valued at $107,518,000 after acquiring an additional 700,447 shares during the period. Finally, Global Alpha Capital Management Ltd. grew its stake in shares of Brunswick by 26.6% in the second quarter. Global Alpha Capital Management Ltd. now owns 272,028 shares of the company’s stock worth $15,027,000 after acquiring an additional 57,100 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

Brunswick Price Performance

NYSE:BC opened at $89.19 on Thursday. The company has a quick ratio of 0.61, a current ratio of 1.44 and a debt-to-equity ratio of 1.11. The firm has a market cap of $5.78 billion, a PE ratio of -42.07 and a beta of 1.39. Brunswick Corporation has a 12 month low of $41.00 and a 12 month high of $90.25. The company’s 50-day moving average price is $82.33 and its two-hundred day moving average price is $70.81.

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

Brunswick Increases Dividend

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

Analyst Ratings Changes

Several research firms recently commented on BC. BMO Capital Markets upped their target price on shares of Brunswick from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Loop Capital started coverage on shares of Brunswick in a report on Monday, December 22nd. They issued a “hold” rating and a $74.00 price target on the stock. Griffin Securities set a $76.00 price objective on shares of Brunswick in a research note on Monday, February 2nd. Roth Mkm reiterated a “buy” rating and set a $94.00 target price (up from $79.00) on shares of Brunswick in a research report on Friday, January 30th. Finally, Robert W. Baird set a $85.00 target price on shares of Brunswick in a research note on Friday, January 30th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Brunswick currently has a consensus rating of “Hold” and a consensus target price of $84.00.

Insider Buying and Selling

In other Brunswick news, CEO David M. Foulkes sold 38,266 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $86.56, for a total transaction of $3,312,304.96. Following the transaction, the chief executive officer owned 271,169 shares of the company’s stock, valued at approximately $23,472,388.64. This represents a 12.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher F. Dekker sold 4,981 shares of Brunswick stock in a transaction on Friday, February 6th. The shares were sold at an average price of $87.38, for a total value of $435,239.78. Following the completion of the sale, the vice president directly owned 39,740 shares of the company’s stock, valued at $3,472,481.20. This trade represents a 11.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.81% of the company’s stock.

Brunswick Profile

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.