Brunswick Corporation (BC) Stake Lessened by Broadview Advisors LLC
Broadview Advisors LLC lowered its stake in shares of Brunswick Corporation (NYSE:BC) by 47.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,910 shares of the company’s stock after selling 121,240 shares during the quarter. Broadview Advisors LLC owned about 0.15% of Brunswick Corporation worth $8,337,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of BC. Bank of America Corp DE increased its position in shares of Brunswick Corporation by 12.8% in the 1st quarter. Bank of America Corp DE now owns 539,889 shares of the company’s stock valued at $33,042,000 after acquiring an additional 61,160 shares during the period. Eagle Asset Management Inc. grew its position in Brunswick Corporation by 27.0% during the 2nd quarter. Eagle Asset Management Inc. now owns 628,565 shares of the company’s stock worth $39,429,000 after purchasing an additional 133,452 shares during the period. TimesSquare Capital Management LLC grew its position in 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. Schwab Charles Investment Management Inc. raised its stake in shares of Brunswick Corporation by 7.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 509,208 shares of the company’s stock valued at $31,943,000 after buying an additional 35,081 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Brunswick Corporation by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 375,750 shares of the company’s stock valued at $22,997,000 after buying an additional 10,324 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.
Several equities analysts have recently weighed in on BC shares. BidaskClub lowered shares of Brunswick Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. B. Riley restated a “buy” rating and set a $70.00 price target on shares of Brunswick Corporation in a research report on Wednesday, August 2nd. BMO Capital Markets decreased their target price on Brunswick Corporation from $72.00 to $68.00 and set an “outperform” rating on the stock in a research report on Friday, July 28th. Zacks Investment Research lowered Brunswick Corporation from a “hold” rating to a “sell” rating in a report on Friday. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $65.00 price target on shares of Brunswick Corporation in a research note on Sunday, June 11th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $65.93.
In other news, Chairman Mark D. Schwabero sold 2,738 shares of the firm’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $63.72, for a total transaction of $174,465.36. Following the completion of the sale, the chairman now directly owns 219,783 shares of the company’s stock, valued at approximately $14,004,572.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.
Shares of Brunswick Corporation (BC) traded down 0.75% during mid-day trading on Tuesday, hitting $57.01. The stock had a trading volume of 178,706 shares. The firm has a market cap of $5.06 billion, a P/E ratio of 18.09 and a beta of 1.85. The company has a 50 day moving average price of $53.55 and a 200 day moving average price of $57.48. Brunswick Corporation has a 12-month low of $42.02 and a 12-month high of $63.82.
Brunswick Corporation (NYSE:BC) last posted its quarterly earnings data on Thursday, July 27th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.02. Brunswick Corporation had a return on equity of 23.35% and a net margin of 6.13%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company earned $1.17 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts forecast that Brunswick Corporation will post $4.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders 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 1.15%. Brunswick Corporation’s payout ratio is 20.95%.
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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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