Nationwide Fund Advisors reduced its position in Briggs & Stratton Corp. (NYSE:BGG) by 18.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,546 shares of the company’s stock after selling 16,182 shares during the period. Nationwide Fund Advisors owned about 0.16% of Briggs & Stratton Corp. worth $1,494,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Alambic Investment Management L.P. acquired a new position in Briggs & Stratton Corp. during the second quarter worth approximately $299,000. Ameriprise Financial Inc. raised its position in shares of Briggs & Stratton Corp. by 88.7% in the second quarter. Ameriprise Financial Inc. now owns 481,042 shares of the company’s stock valued at $10,189,000 after buying an additional 226,089 shares in the last quarter. LSV Asset Management raised its position in shares of Briggs & Stratton Corp. by 23.7% in the second quarter. LSV Asset Management now owns 2,105,417 shares of the company’s stock valued at $44,592,000 after buying an additional 403,542 shares in the last quarter. Airain ltd purchased a new position in shares of Briggs & Stratton Corp. during the second quarter valued at about $690,000. Finally, FCA Corp TX purchased a new position in shares of Briggs & Stratton Corp. during the second quarter valued at about $212,000. Institutional investors and hedge funds own 95.15% of the company’s stock.
Shares of Briggs & Stratton Corp. (NYSE:BGG) opened at 19.05 on Tuesday. The company has a market capitalization of $821.26 million, a price-to-earnings ratio of 31.75 and a beta of 0.75. The stock has a 50 day moving average price of $18.86 and a 200 day moving average price of $20.96. Briggs & Stratton Corp. has a 1-year low of $15.47 and a 1-year high of $24.48.
Briggs & Stratton Corp. (NYSE:BGG) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.08. Briggs & Stratton Corp. had a return on equity of 10.41% and a net margin of 1.47%. The business had revenue of $502.19 million for the quarter, compared to analyst estimates of $562.33 million. During the same quarter in the prior year, the company earned $0.51 earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis. Analysts forecast that Briggs & Stratton Corp. will post $1.32 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 16th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.95%. This is an increase from Briggs & Stratton Corp.’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, September 14th. Briggs & Stratton Corp.’s dividend payout ratio is currently 94.92%.
Several brokerages recently issued reports on BGG. Zacks Investment Research upgraded Briggs & Stratton Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Robert W. Baird restated a “neutral” rating and set a $22.00 price target on shares of Briggs & Stratton Corp. in a research note on Wednesday, August 17th. Finally, TheStreet lowered Briggs & Stratton Corp. from a “buy” rating to a “hold” rating in a research note on Friday, September 9th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $22.67.
In related news, SVP William H. Reitman sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $22.90, for a total value of $91,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.70% of the company’s stock.
About Briggs & Stratton Corp.
Briggs & Stratton Corporation is a producer of air cooled gasoline engines for outdoor power equipment. The Company designs, manufactures, markets and services these products for original equipment manufacturers (OEMs) worldwide. In addition, the Company markets and sells related service parts and accessories for its engines.
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