Massachusetts Financial Services Co. MA raised its holdings in Brunswick Co. (NYSE:BC) by 1.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,376,883 shares of the company’s stock after acquiring an additional 34,033 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Brunswick were worth $123,883,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BC. Eagle Asset Management Inc. lifted its position in shares of Brunswick by 0.9% during the 2nd quarter. Eagle Asset Management Inc. now owns 1,253,577 shares of the company’s stock worth $57,526,000 after buying an additional 10,726 shares during the period. Miles Capital Inc. bought a new position in shares of Brunswick during the 2nd quarter worth approximately $208,000. Renaissance Technologies LLC lifted its position in shares of Brunswick by 144.9% during the 2nd quarter. Renaissance Technologies LLC now owns 121,000 shares of the company’s stock worth $5,553,000 after buying an additional 71,600 shares during the period. BRYN MAWR TRUST Co lifted its position in shares of Brunswick by 0.6% during the 2nd quarter. BRYN MAWR TRUST Co now owns 83,192 shares of the company’s stock worth $3,818,000 after buying an additional 495 shares during the period. Finally, Pacer Advisors Inc. bought a new position in shares of Brunswick during the 2nd quarter worth approximately $1,589,000. 99.30% of the stock is currently owned by hedge funds and other institutional investors.
BC has been the subject of several analyst reports. JPMorgan Chase & Co. downgraded Brunswick from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $61.00 to $46.00 in a research report on Monday, July 22nd. KeyCorp lifted their price objective on Brunswick from $58.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Wedbush lifted their price objective on Brunswick from $60.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Imperial Capital lifted their price objective on Brunswick from $70.00 to $74.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, B. Riley set a $74.00 price objective on Brunswick and gave the company a “buy” rating in a research report on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $61.67.
BC traded down $0.18 during trading on Thursday, hitting $59.10. The company’s stock had a trading volume of 10,830 shares, compared to its average volume of 1,094,679. The firm’s 50 day moving average price is $55.57 and its two-hundred day moving average price is $49.16. The company has a quick ratio of 0.98, a current ratio of 1.87 and a debt-to-equity ratio of 0.81. Brunswick Co. has a 12 month low of $41.02 and a 12 month high of $62.23. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 1.42 and a beta of 1.72.
Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.11. Brunswick had a positive return on equity of 25.96% and a negative net margin of 3.32%. The firm had revenue of $976.60 million during the quarter, compared to the consensus estimate of $984.32 million. During the same quarter in the previous year, the company posted $1.28 EPS. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, sell-side analysts forecast that Brunswick Co. will post 4.26 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 19th will be paid a $0.24 dividend. This is a boost from Brunswick’s previous quarterly dividend of $0.21. This represents a $0.96 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Monday, November 18th. Brunswick’s dividend payout ratio (DPR) is 17.61%.
Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, electrical systems, service parts, and lubricants; and integrated propulsion systems to the recreational and commercial marine markets, as well as parts and accessories.
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