Retirement Systems of Alabama Has $7.22 Million Position in Brunswick Corporation (BC)
Retirement Systems of Alabama decreased its position in shares of Brunswick Corporation (NYSE:BC) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 115,131 shares of the company’s stock after selling 446 shares during the period. Retirement Systems of Alabama’s holdings in Brunswick Corporation were worth $7,222,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the stock. James Investment Research Inc. acquired a new position in Brunswick Corporation during the first quarter valued at approximately $145,000. Venturi Wealth Management LLC acquired a new position in Brunswick Corporation during the first quarter valued at approximately $207,000. Envestnet Asset Management Inc. boosted its position in Brunswick Corporation by 59.8% in the first quarter. Envestnet Asset Management Inc. now owns 3,932 shares of the company’s stock valued at $240,000 after buying an additional 1,472 shares during the last quarter. Wright Investors Service Inc. boosted its position in Brunswick Corporation by 21.4% in the second quarter. Wright Investors Service Inc. now owns 4,190 shares of the company’s stock valued at $263,000 after buying an additional 740 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in Brunswick Corporation during the first quarter valued at approximately $271,000. Institutional investors own 99.27% of the company’s stock.
Brunswick Corporation (BC) opened at 55.63 on Tuesday. Brunswick Corporation has a 12-month low of $42.02 and a 12-month high of $63.82. The stock has a 50 day moving average price of $59.70 and a 200-day moving average price of $59.14. The stock has a market capitalization of $4.94 billion, a PE ratio of 17.65 and a beta of 1.81.
Brunswick Corporation (NYSE:BC) last issued its earnings results 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 analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. On average, equities analysts anticipate that Brunswick Corporation will post $4.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 22nd will be issued a $0.165 dividend. The ex-dividend date is Friday, August 18th. This represents a $0.66 annualized dividend and a dividend yield of 1.19%. Brunswick Corporation’s dividend payout ratio (DPR) is 20.95%.
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Several equities analysts recently commented on the company. B. Riley restated a “buy” rating and set a $72.00 target price on shares of Brunswick Corporation in a research report on Wednesday, May 3rd. BidaskClub cut Brunswick Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday. Zacks Investment Research cut Brunswick Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Forward View set a $60.00 target price on Brunswick Corporation and gave the stock a “hold” rating in a research report on Sunday, July 30th. Finally, Stifel Nicolaus boosted their target price on Brunswick Corporation from $66.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Brunswick Corporation currently has a consensus rating of “Buy” and an average price target of $65.82.
In other news, insider William Metzger sold 559 shares of Brunswick Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $62.50, for a total value of $34,937.50. Following the sale, the insider now directly owns 115,673 shares of the company’s stock, valued at $7,229,562.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark D. Schwabero sold 3,289 shares of Brunswick Corporation stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold 51,439 shares of company stock worth $3,258,968 over the last ninety days. Insiders own 1.00% of the company’s stock.
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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