Brunswick Corporation $BC Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board trimmed its stake in shares of Brunswick Corporation (NYSE:BC) by 26.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,694 shares of the company’s stock after selling 18,525 shares during the quarter. Ontario Teachers Pension Plan Board owned about 0.08% of Brunswick worth $3,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BC. Allianz Asset Management GmbH boosted its holdings in Brunswick by 191.0% during the third quarter. Allianz Asset Management GmbH now owns 214,150 shares of the company’s stock worth $13,543,000 after buying an additional 140,566 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Brunswick by 26.0% during the third quarter. Federated Hermes Inc. now owns 824,181 shares of the company’s stock valued at $52,121,000 after purchasing an additional 170,030 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Brunswick by 0.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,494,664 shares of the company’s stock valued at $221,003,000 after purchasing an additional 11,777 shares during the period. Bank of New York Mellon Corp increased its stake in Brunswick by 70.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,700,164 shares of the company’s stock worth $107,518,000 after purchasing an additional 700,447 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. raised its holdings in Brunswick by 26.6% during the 2nd quarter. Global Alpha Capital Management Ltd. now owns 272,028 shares of the company’s stock worth $15,027,000 after buying an additional 57,100 shares during the period. 99.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Brunswick

In other news, VP Christopher F. Dekker sold 4,981 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $87.38, for a total transaction of $435,239.78. Following the completion of the sale, the vice president owned 39,740 shares in the company, valued at approximately $3,472,481.20. This represents a 11.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David M. Foulkes sold 38,266 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $86.56, for a total value of $3,312,304.96. Following the transaction, the chief executive officer directly owned 271,169 shares in the company, valued at approximately $23,472,388.64. This represents a 12.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.81% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BC has been the topic of several analyst reports. Jefferies Financial Group set a $115.00 target price on shares of Brunswick and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Texas Capital downgraded shares of Brunswick from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Wolfe Research set a $90.00 target price on Brunswick in a report on Monday, January 12th. Griffin Securities set a $76.00 price target on Brunswick in a report on Monday, February 2nd. Finally, BMO Capital Markets increased their price objective on Brunswick from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $84.00.

Brunswick Stock Up 1.8%

Shares of Brunswick stock opened at $89.19 on Thursday. The firm has a market cap of $5.78 billion, a price-to-earnings ratio of -42.07 and a beta of 1.39. The stock has a 50-day simple moving average of $82.33 and a 200-day simple moving average of $70.81. Brunswick Corporation has a 52-week low of $41.00 and a 52-week high of $90.25. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.44 and a quick ratio of 0.61.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, January 29th. The company reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.21 billion. Brunswick had a positive return on equity of 12.22% and a negative net margin of 2.56%.The firm’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 earnings per share. On average, equities research analysts expect that Brunswick Corporation will post 4.19 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, February 23rd will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, February 23rd. This is a boost from Brunswick’s previous quarterly dividend of $0.43. Brunswick’s dividend payout ratio (DPR) is presently -81.13%.

About Brunswick

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.