Brunswick Corporation (BC) Holdings Lifted by South Texas Money Management Ltd.
South Texas Money Management Ltd. grew its holdings in shares of Brunswick Corporation (NYSE:BC) by 20.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 413,966 shares of the company’s stock after purchasing an additional 70,627 shares during the quarter. South Texas Money Management Ltd. owned approximately 0.46% of Brunswick Corporation worth $25,968,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. Boston Partners lifted its stake in shares of Brunswick Corporation by 3.8% during the 2nd quarter. Boston Partners now owns 9,306,042 shares of the company’s stock worth $583,768,000 after purchasing an additional 338,212 shares during the period. BlackRock Inc. lifted its stake in shares of Brunswick Corporation by 0.9% during the 2nd quarter. BlackRock Inc. now owns 7,553,692 shares of the company’s stock worth $473,842,000 after purchasing an additional 65,605 shares during the period. Vanguard Group Inc. lifted its stake in shares of Brunswick Corporation by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 7,158,280 shares of the company’s stock worth $438,086,000 after purchasing an additional 457,104 shares during the period. Schroder Investment Management Group lifted its stake in shares of Brunswick Corporation by 4.8% during the 1st quarter. Schroder Investment Management Group now owns 2,293,970 shares of the company’s stock worth $140,345,000 after purchasing an additional 104,107 shares during the period. Finally, TimesSquare Capital Management LLC lifted its stake in shares of Brunswick Corporation by 17.1% during the 2nd quarter. TimesSquare Capital Management LLC now owns 1,950,700 shares of the company’s stock worth $122,367,000 after purchasing an additional 284,300 shares during the period. 93.99% of the stock is currently owned by institutional investors.
Brunswick Corporation (NYSE BC) traded down 0.19% during trading on Wednesday, reaching $53.11. The company had a trading volume of 397,659 shares. The stock has a market cap of $4.71 billion, a P/E ratio of 16.85 and a beta of 1.82. The firm has a 50-day moving average price of $53.64 and a 200 day moving average price of $57.82. Brunswick Corporation has a 12-month low of $42.02 and a 12-month high of $63.82.
Brunswick Corporation (NYSE:BC) last released its earnings results on Thursday, July 27th. The company reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.02. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. Brunswick Corporation had a net margin of 6.13% and a return on equity of 23.35%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 EPS. Equities research analysts predict that Brunswick Corporation will post $4.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 22nd were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.66 annualized dividend and a dividend yield of 1.24%. Brunswick Corporation’s payout ratio is 20.95%.
A number of brokerages have weighed in on BC. ValuEngine lowered Brunswick Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird reaffirmed a “buy” rating and issued a $68.00 target price on shares of Brunswick Corporation in a research report on Friday, September 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 target price on shares of Brunswick Corporation in a research report on Thursday, September 7th. Forward View raised Brunswick Corporation from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Sunday, September 3rd. Finally, KeyCorp reaffirmed a “buy” rating and issued a $62.00 target price on shares of Brunswick Corporation in a research report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $65.93.
In other news, Chairman Mark D. Schwabero sold 3,289 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $63.73, for a total transaction of $209,607.97. Following the transaction, the chairman now owns 219,799 shares in the company, valued at approximately $14,007,790.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider William Metzger sold 15,301 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $62.50, for a total transaction of $956,312.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,880 shares of company stock worth $3,224,030. Insiders own 1.00% of the company’s stock.
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About Brunswick Corporation
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
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