Robeco Institutional Asset Management B.V. increased its position in shares of Brunswick Corporation (NYSE:BC) by 24.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,753 shares of the company’s stock after purchasing an additional 2,923 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Brunswick Corporation were worth $926,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in BC. Advisors Asset Management Inc. purchased a new stake in Brunswick Corporation in the 2nd quarter valued at about $134,000. Venturi Wealth Management LLC purchased a new stake in Brunswick Corporation in the 1st quarter valued at about $207,000. Pitcairn Co. purchased a new stake in Brunswick Corporation in the 2nd quarter valued at about $213,000. Envestnet Asset Management Inc. boosted its position in Brunswick Corporation by 59.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,932 shares of the company’s stock valued at $240,000 after buying an additional 1,472 shares during the period. Finally, Wright Investors Service Inc. boosted its position in Brunswick Corporation by 21.4% in the 2nd quarter. Wright Investors Service Inc. now owns 4,190 shares of the company’s stock valued at $263,000 after buying an additional 740 shares during the period. 94.04% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on BC shares. BidaskClub raised shares of Brunswick Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Northcoast Research cut shares of Brunswick Corporation from a “buy” rating to a “neutral” rating in a research report on Monday, July 10th. They noted that the move was a valuation call. Aegis reaffirmed a “buy” rating and issued a $73.00 price target on shares of Brunswick Corporation in a research report on Thursday, August 17th. BMO Capital Markets lowered their price target on shares of Brunswick Corporation from $72.00 to $68.00 and set an “outperform” rating for the company in a research report on Friday, July 28th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $56.00 price target on shares of Brunswick Corporation in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $65.93.
In related news, Chairman Mark D. Schwabero sold 29,552 shares of the business’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $63.74, for a total value of $1,883,644.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider William Metzger sold 15,301 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $62.50, for a total transaction of $956,312.50. The disclosure for this sale can be found here. Insiders have sold a total of 50,880 shares of company stock worth $3,224,030 over the last 90 days. Insiders own 1.00% of the company’s stock.
Shares of Brunswick Corporation (BC) traded up 0.67% during mid-day trading on Friday, reaching $53.73. 275,353 shares of the company were exchanged. Brunswick Corporation has a 12 month low of $42.02 and a 12 month high of $63.82. The stock has a 50 day moving average price of $53.91 and a 200-day moving average price of $58.01. The stock has a market capitalization of $4.77 billion, a P/E ratio of 17.05 and a beta of 1.82.
Brunswick Corporation (NYSE:BC) last issued its earnings results on Thursday, July 27th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.33 by $0.02. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. Brunswick Corporation had a net margin of 6.13% and a return on equity of 23.35%. The business’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 EPS. Analysts predict that Brunswick Corporation will post $4.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.165 per share. The ex-dividend date is Friday, August 18th. This represents a $0.66 annualized dividend and a dividend yield of 1.24%. Brunswick Corporation’s payout ratio is currently 20.95%.
Brunswick Corporation Company Profile
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
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