Brunswick (NYSE:BC) Sets New 52-Week Low – Here’s Why

Shares of Brunswick Co. (NYSE:BC) hit a new 52-week low on Friday . The company traded as low as $62.91 and last traded at $63.04, with a volume of 292277 shares changing hands. The stock had previously closed at $65.14.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. B. Riley downgraded shares of Brunswick from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $95.00 to $88.00 in a report on Tuesday, November 26th. Truist Financial dropped their target price on Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday. Citigroup boosted their price target on Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Benchmark reiterated a “buy” rating and issued a $100.00 price objective on shares of Brunswick in a report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.15.

Brunswick Price Performance

The company has a market capitalization of $4.16 billion, a P/E ratio of 15.67 and a beta of 1.54. The business’s 50-day moving average is $74.84 and its two-hundred day moving average is $77.09. The company has a quick ratio of 0.74, a current ratio of 1.97 and a debt-to-equity ratio of 1.17.

Brunswick Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th were paid a $0.42 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $1.68 annualized dividend and a dividend yield of 2.67%. Brunswick’s payout ratio is 41.79%.

Insider Activity at Brunswick

In related news, Director Joseph W. Mcclanathan sold 4,745 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $80.14, for a total transaction of $380,264.30. Following the transaction, the director now directly owns 19,218 shares in the company, valued at $1,540,130.52. This trade represents a 19.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nancy E. Cooper sold 366 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.19, for a total transaction of $29,349.54. Following the sale, the director now owns 24,557 shares of the company’s stock, valued at $1,969,225.83. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,940 shares of company stock worth $2,321,176. Corporate insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BC. Sei Investments Co. raised its stake in shares of Brunswick by 7.6% in the second quarter. Sei Investments Co. now owns 221,073 shares of the company’s stock worth $16,087,000 after purchasing an additional 15,602 shares during the last quarter. Edgestream Partners L.P. bought a new position in Brunswick during the 2nd quarter valued at about $8,289,000. American Century Companies Inc. boosted its holdings in shares of Brunswick by 4.1% during the 2nd quarter. American Century Companies Inc. now owns 1,461,268 shares of the company’s stock valued at $106,337,000 after acquiring an additional 57,605 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Brunswick by 20.8% in the second quarter. Bank of Montreal Can now owns 40,193 shares of the company’s stock worth $2,925,000 after acquiring an additional 6,922 shares during the period. Finally, Global Alpha Capital Management Ltd. raised its holdings in shares of Brunswick by 47.5% during the third quarter. Global Alpha Capital Management Ltd. now owns 240,128 shares of the company’s stock valued at $20,128,000 after purchasing an additional 77,340 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.