Briggs & Stratton Corporation (BGG) Shares Bought by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA raised its stake in Briggs & Stratton Corporation (NYSE:BGG) by 39.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 25,942 shares of the industrial products company’s stock after buying an additional 7,349 shares during the quarter. BNP Paribas Arbitrage SA owned approximately 0.06% of Briggs & Stratton worth $610,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its stake in shares of Briggs & Stratton by 3.9% during the first quarter. Public Employees Retirement System of Ohio now owns 6,937 shares of the industrial products company’s stock valued at $156,000 after purchasing an additional 263 shares in the last quarter. Fiduciary Trust Co. bought a new stake in shares of Briggs & Stratton during the second quarter valued at about $181,000. SG Americas Securities LLC raised its stake in shares of Briggs & Stratton by 12.3% during the second quarter. SG Americas Securities LLC now owns 8,157 shares of the industrial products company’s stock valued at $197,000 after purchasing an additional 895 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Briggs & Stratton during the second quarter valued at about $223,000. Finally, OxFORD Asset Management LLP bought a new stake in shares of Briggs & Stratton during the second quarter valued at about $260,000. Institutional investors own 83.02% of the company’s stock.

A number of brokerages recently weighed in on BGG. ValuEngine upgraded shares of Briggs & Stratton from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Zacks Investment Research cut shares of Briggs & Stratton from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Raymond James Financial restated an “underperform” rating on shares of Briggs & Stratton in a research note on Tuesday, October 17th. They noted that the move was a valuation call. Finally, BidaskClub upgraded shares of Briggs & Stratton from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $26.50.

In related news, insider Todd J. Teske sold 60,000 shares of Briggs & Stratton stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $24.01, for a total value of $1,440,600.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Andrea L. Golvach sold 19,174 shares of Briggs & Stratton stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $25.20, for a total value of $483,184.80. Following the completion of the transaction, the vice president now directly owns 27,197 shares in the company, valued at approximately $685,364.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,174 shares of company stock worth $2,360,825. 4.20% of the stock is owned by corporate insiders.

Briggs & Stratton Corporation (NYSE:BGG) opened at $24.95 on Thursday. The stock has a market capitalization of $1,061.27, a PE ratio of 18.07 and a beta of 0.78. Briggs & Stratton Corporation has a fifty-two week low of $20.00 and a fifty-two week high of $25.95. The company has a current ratio of 1.82, a quick ratio of 0.70 and a debt-to-equity ratio of 0.41.

Briggs & Stratton (NYSE:BGG) last released its earnings results on Wednesday, October 25th. The industrial products company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.08. The firm had revenue of $329.10 million for the quarter, compared to analyst estimates of $295.84 million. Briggs & Stratton had a return on equity of 11.38% and a net margin of 3.05%. Briggs & Stratton’s revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.34) earnings per share. analysts anticipate that Briggs & Stratton Corporation will post 1.49 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Friday, December 15th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Thursday, December 14th. Briggs & Stratton’s payout ratio is currently 43.75%.

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Briggs & Stratton Profile

Briggs & Stratton Corporation is a producer of gasoline engines for outdoor power equipment. The Company designs, manufactures, markets, sells and services the various products for original equipment manufacturers (OEMs) around the world. It also markets and sells related service parts and accessories for its engines.

Institutional Ownership by Quarter for Briggs & Stratton (NYSE:BGG)

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