Penn Capital Management Co. Inc. cut its stake in shares of Brunswick Corporation (NYSE:BC) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,650 shares of the company’s stock after selling 1,024 shares during the quarter. Penn Capital Management Co. Inc.’s holdings in Brunswick Corporation were worth $1,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. Somerset Trust Co lifted its position in Brunswick Corporation by 0.4% during the second quarter. Somerset Trust Co now owns 9,309 shares of the company’s stock valued at $584,000 after purchasing an additional 39 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Brunswick Corporation by 1.4% during the second quarter. Teacher Retirement System of Texas now owns 7,180 shares of the company’s stock valued at $450,000 after purchasing an additional 98 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in Brunswick Corporation by 2.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 4,536 shares of the company’s stock valued at $285,000 after purchasing an additional 106 shares during the last quarter. World Asset Management Inc lifted its position in Brunswick Corporation by 3.0% during the second quarter. World Asset Management Inc now owns 6,361 shares of the company’s stock valued at $399,000 after purchasing an additional 183 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC lifted its position in Brunswick Corporation by 1.4% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 15,647 shares of the company’s stock valued at $709,000 after purchasing an additional 219 shares during the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

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Brunswick Corporation (BC) opened at 55.06 on Friday. The company has a 50 day moving average of $53.64 and a 200 day moving average of $57.82. Brunswick Corporation has a 52 week low of $42.02 and a 52 week high of $63.82. The stock has a market capitalization of $4.88 billion, a P/E ratio of 17.47 and a beta of 1.82.

Brunswick Corporation (NYSE:BC) last issued its quarterly earnings results on Thursday, July 27th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. Brunswick Corporation had a return on equity of 23.35% and a net margin of 6.13%. Brunswick Corporation’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned $1.17 earnings per share. Equities analysts expect that Brunswick Corporation will post $4.05 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 22nd were given a $0.165 dividend. The ex-dividend date was Friday, August 18th. This represents a $0.66 dividend on an annualized basis and a yield of 1.20%. Brunswick Corporation’s dividend payout ratio is presently 20.95%.

BC has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Brunswick Corporation from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Thursday, June 29th. BidaskClub upgraded shares of Brunswick Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Royal Bank Of Canada restated a “buy” rating and issued a $65.00 price objective on shares of Brunswick Corporation in a report on Sunday, June 11th. B. Riley restated a “buy” rating and issued a $70.00 price objective on shares of Brunswick Corporation in a report on Friday, July 28th. Finally, Stifel Nicolaus boosted their price objective on shares of Brunswick Corporation from $66.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, July 14th. One equities 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. Brunswick Corporation has an average rating of “Buy” and an average target price of $65.93.

In related news, Chairman Mark D. Schwabero sold 3,289 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $63.73, for a total value of $209,607.97. Following the completion of the sale, the chairman now directly owns 219,799 shares in the company, valued at $14,007,790.27. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mark D. Schwabero sold 2,738 shares of the firm’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $63.72, for a total value of $174,465.36. Following the completion of the sale, the chairman now owns 219,783 shares of the company’s stock, valued at $14,004,572.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,579 shares of company stock valued at $2,267,718. 1.00% of the stock is owned by corporate insiders.

Brunswick Corporation Company Profile

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.

Institutional Ownership by Quarter for Brunswick Corporation (NYSE:BC)

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