Briggs & Stratton Corporation (BGG) to Issue Quarterly Dividend of $0.14 on January 3rd
Briggs & Stratton Corporation (NYSE:BGG) announced a quarterly dividend on Wednesday, October 25th, RTT News reports. Shareholders of record on Friday, December 15th will be paid a dividend of 0.14 per share by the industrial products company on Wednesday, January 3rd. This represents a $0.56 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Thursday, December 14th.
Briggs & Stratton has decreased its dividend by an average of 17.5% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Briggs & Stratton has a dividend payout ratio of 37.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Briggs & Stratton to earn $1.64 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 34.1%.
Shares of Briggs & Stratton (NYSE BGG) opened at $24.72 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 1.82 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $1,072.42, a price-to-earnings ratio of 18.26 and a beta of 0.78. Briggs & Stratton has a 12 month low of $20.00 and a 12 month high of $25.95.
Briggs & Stratton (NYSE:BGG) last posted its quarterly earnings data on Wednesday, October 25th. The industrial products company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.08. The firm had revenue of $329.10 million during the quarter, compared to analyst estimates of $295.84 million. Briggs & Stratton had a return on equity of 11.38% and a net margin of 3.05%. Briggs & Stratton’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.34) EPS. research analysts anticipate that Briggs & Stratton will post 1.49 earnings per share for the current fiscal year.
In related news, insider Todd J. Teske sold 60,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $24.01, for a total value of $1,440,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Andrea L. Golvach sold 19,174 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $25.20, for a total transaction of $483,184.80. Following the completion of the transaction, the vice president now directly owns 27,197 shares of the company’s stock, valued at approximately $685,364.40. The disclosure for this sale can be found here. Insiders sold a total of 97,174 shares of company stock valued at $2,360,825 over the last 90 days. 4.20% of the stock is currently owned by company insiders.
Several equities research analysts have recently commented on the company. Zacks Investment Research lowered Briggs & Stratton from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. ValuEngine upgraded Briggs & Stratton from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Finally, Raymond James Financial restated an “underperform” rating on shares of Briggs & Stratton in a research note on Tuesday, October 17th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $26.50.
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About Briggs & Stratton
Briggs & Stratton Corporation is a producer of gasoline engines for outdoor power equipment. The Company designs, manufactures, markets, sells and services the various products for original equipment manufacturers (OEMs) around the world. It also markets and sells related service parts and accessories for its engines.
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