Principal Financial Group Inc. increased its stake in Brunswick Corp. (NYSE:BC) by 13.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 348,128 shares of the company’s stock after buying an additional 40,255 shares during the period. Principal Financial Group Inc. owned approximately 0.39% of Brunswick Corp. worth $15,777,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in BC. Silvercrest Asset Management Group LLC acquired a new position in shares of Brunswick Corp. during the first quarter valued at $35,811,000. JPMorgan Chase & Co. increased its position in shares of Brunswick Corp. by 60.5% in the first quarter. JPMorgan Chase & Co. now owns 1,654,292 shares of the company’s stock valued at $79,374,000 after buying an additional 623,844 shares during the last quarter. AXA acquired a new position in shares of Brunswick Corp. during the first quarter valued at $24,679,000. Boston Partners increased its position in shares of Brunswick Corp. by 9.9% in the second quarter. Boston Partners now owns 5,533,911 shares of the company’s stock valued at $250,796,000 after buying an additional 499,837 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Brunswick Corp. by 13.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,487,571 shares of the company’s stock valued at $167,334,000 after buying an additional 424,611 shares during the last quarter. Institutional investors and hedge funds own 95.26% of the company’s stock.
Brunswick Corp. (NYSE:BC) traded down 0.658% during trading on Friday, hitting $49.045. The stock had a trading volume of 41,146 shares. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 19.084 and a beta of 1.98. The stock’s 50-day moving average is $47.18 and its 200 day moving average is $47.59. Brunswick Corp. has a one year low of $36.05 and a one year high of $55.65.
Brunswick Corp. (NYSE:BC) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.01. The business earned $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. Brunswick Corp. had a net margin of 5.58% and a return on equity of 22.51%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.05 EPS. Equities analysts anticipate that Brunswick Corp. will post $3.48 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Friday, August 19th. Brunswick Corp.’s payout ratio is 23.26%.
BC has been the subject of several research analyst reports. Off Wall Street began coverage on Brunswick Corp. in a research note on Monday, July 18th. They set a “sell” rating for the company. Zacks Investment Research raised Brunswick Corp. from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Tuesday, August 2nd. Robert W. Baird reissued an “outperform” rating and issued a $60.00 price objective on shares of Brunswick Corp. in a research note on Wednesday, July 6th. Imperial Capital began coverage on Brunswick Corp. in a research note on Tuesday, September 27th. They issued an “outperform” rating and a $60.00 price objective for the company. Finally, Wedbush reissued an “outperform” rating and issued a $60.00 price objective on shares of Brunswick Corp. in a research note on Saturday, July 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $56.42.
In related news, CFO William Metzger sold 19,051 shares of the stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $49.52, for a total value of $943,405.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is currently owned by corporate insiders.
Brunswick Corp. Company Profile
Brunswick Corporation (Brunswick) is a designer, manufacturer and marketer of recreation products, including marine engines, boats, fitness and active recreation products. The Company operates in three segments, which include Marine Engine, Boat and Fitness. The Marine Engine segment manufactures and markets a range of outboard engines, sterndrive engines, inboard engines and marine parts and accessories, which are principally sold directly to boat builders, including Brunswick’s Boat segment, or through marine retail dealers and distributors across the world.
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