Insider Selling: William H. Reitman Sells 14,000 Shares of Briggs & Stratton Corp. Stock (BGG)
Briggs & Stratton Corp. (NYSE:BGG) VP William H. Reitman sold 14,000 shares of the company’s stock on the open market in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $20.60, for a total value of $288,400.00. Following the sale, the vice president now directly owns 57,680 shares in the company, valued at approximately $1,188,208. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
BGG has been the subject of a number of recent research reports. Analysts at Off Wall Street reiterated a “sell” rating on shares of Briggs & Stratton Corp. in a research note on Friday, August 15th. Analysts at Zacks downgraded shares of Briggs & Stratton Corp. from a “neutral” rating to an “underperform” rating in a research note on Thursday, July 24th. They now have a $18.10 price target on the stock.
Briggs & Stratton Corp. (NYSE:BGG) traded down 0.65% during mid-day trading on Friday, hitting $20.615. The stock had a trading volume of 55,941 shares. Briggs & Stratton Corp. has a 52-week low of $18.18 and a 52-week high of $23.02. The stock has a 50-day moving average of $19.4 and a 200-day moving average of $20.92. The company has a market cap of $944.4 million and a price-to-earnings ratio of 35.17.
Briggs & Stratton Corp. (NYSE:BGG) last released its earnings data on Thursday, August 14th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.05. The company had revenue of $496.80 million for the quarter, compared to the consensus estimate of $495.93 million. On average, analysts predict that Briggs & Stratton Corp. will post $1.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Investors of record on Wednesday, September 17th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Monday, September 15th. This is an increase from Briggs & Stratton Corp.’s previous quarterly dividend of $0.12.
Briggs & Stratton Corporation (NYSE:BGG) is a producer of air cooled gasoline engines for outdoor power equipment.
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