Clinton Group Inc. Buys 4,012 Shares of Brunswick Corporation (BC)
Clinton Group Inc. raised its stake in Brunswick Corporation (NYSE:BC) by 50.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 11,983 shares of the company’s stock after buying an additional 4,012 shares during the quarter. Clinton Group Inc.’s holdings in Brunswick Corporation were worth $752,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Bank of America Corp DE lifted its stake in Brunswick Corporation by 12.8% in the first quarter. Bank of America Corp DE now owns 539,889 shares of the company’s stock valued at $33,042,000 after buying an additional 61,160 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in Brunswick Corporation by 27.0% in the second quarter. Eagle Asset Management Inc. now owns 628,565 shares of the company’s stock valued at $39,429,000 after buying an additional 133,452 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in shares of Brunswick Corporation by 17.1% during the second quarter. TimesSquare Capital Management LLC now owns 1,950,700 shares of the company’s stock valued at $122,367,000 after purchasing an additional 284,300 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Brunswick Corporation by 7.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 509,208 shares of the company’s stock valued at $31,943,000 after purchasing an additional 35,081 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Brunswick Corporation by 2.8% during the first quarter. Principal Financial Group Inc. now owns 375,750 shares of the company’s stock valued at $22,997,000 after purchasing an additional 10,324 shares in the last quarter. Institutional investors own 93.99% of the company’s stock.
In other Brunswick Corporation news, Chairman Mark D. Schwabero sold 2,738 shares of the stock in a transaction dated 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 directly owns 219,783 shares in the company, valued at $14,004,572.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.
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A number of equities research analysts recently weighed in on BC shares. Robert W. Baird restated a “buy” rating and set a $68.00 price objective on shares of Brunswick Corporation in a research note on Friday, September 8th. BMO Capital Markets cut their price objective on shares of Brunswick Corporation from $72.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, July 28th. KeyCorp restated an “overweight” rating and set a $62.00 price objective on shares of Brunswick Corporation in a research note on Wednesday, August 30th. BidaskClub cut shares of Brunswick Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Finally, Zacks Investment Research cut shares of Brunswick Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $65.54.
Brunswick Corporation (NYSE BC) opened at 57.49 on Friday. The stock has a market cap of $5.10 billion, a PE ratio of 18.24 and a beta of 1.85. Brunswick Corporation has a 52 week low of $42.02 and a 52 week high of $63.82. The company has a 50-day moving average price of $53.74 and a 200-day moving average price of $57.45.
Brunswick Corporation (NYSE:BC) last released its quarterly earnings data on Thursday, July 27th. The company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.02. Brunswick Corporation had a return on equity of 23.35% and a net margin of 6.13%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company posted $1.17 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. Analysts anticipate that Brunswick Corporation will post $4.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 22nd were issued a $0.165 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.66 annualized dividend and a dividend yield of 1.15%. Brunswick Corporation’s dividend payout ratio (DPR) is currently 20.95%.
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.
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