Brunswick Corp. (BC) Sees Large Volume Increase
Brunswick Corp. (NYSE:BC) saw strong trading volume on Tuesday . 1,773,481 shares traded hands during mid-day trading, an increase of 65% from the previous session’s volume of 1,074,576 shares.The stock last traded at $47.82 and had previously closed at $46.44.
A number of research analysts have weighed in on BC shares. B. Riley reaffirmed a “buy” rating and set a $65.00 target price on shares of Brunswick Corp. in a report on Wednesday, August 3rd. Wedbush reaffirmed an “outperform” rating and set a $60.00 target price on shares of Brunswick Corp. in a report on Saturday, July 2nd. Zacks Investment Research lowered Brunswick Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Robert W. Baird reaffirmed an “outperform” rating and set a $60.00 target price on shares of Brunswick Corp. in a report on Wednesday, July 6th. Finally, Off Wall Street started coverage on Brunswick Corp. in a report on Monday, July 18th. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. Brunswick Corp. currently has a consensus rating of “Buy” and an average target price of $56.09.
The firm has a 50 day moving average price of $47.05 and a 200-day moving average price of $47.26. The stock has a market capitalization of $4.31 billion, a P/E ratio of 18.60 and a beta of 1.96.
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Brunswick Corp. (NYSE:BC) last posted its earnings results on Thursday, July 28th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. Brunswick Corp. had a return on equity of 22.51% and a net margin of 5.58%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company earned $1.05 earnings per share. Brunswick Corp.’s revenue was up 8.8% on a year-over-year basis. Analysts expect that Brunswick Corp. will post $3.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Friday, August 19th. Brunswick Corp.’s dividend payout ratio is 23.26%.
In other news, CFO William Metzger sold 19,051 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $49.52, for a total value of $943,405.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.50% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. bought a new position in Brunswick Corp. during the second quarter valued at approximately $109,000. Advisors Asset Management Inc. bought a new position in Brunswick Corp. during the second quarter valued at approximately $109,000. World Asset Management Inc increased its position in Brunswick Corp. by 0.3% in the second quarter. World Asset Management Inc now owns 4,441 shares of the company’s stock valued at $201,000 after buying an additional 12 shares during the period. BlackRock Japan Co. Ltd increased its position in Brunswick Corp. by 362.8% in the first quarter. BlackRock Japan Co. Ltd now owns 4,272 shares of the company’s stock valued at $205,000 after buying an additional 3,349 shares during the period. Finally, Advisor Group Inc. bought a new position in Brunswick Corp. during the second quarter valued at approximately $210,000. 95.27% of the stock is currently owned by hedge funds and other institutional investors.
About Brunswick Corp.
Brunswick Corporation (Brunswick) is a designer, manufacturer and marketer of recreation products, including marine engines, boats, fitness and active recreation products. The Company operates in three segments, which include Marine Engine, Boat and Fitness. The Marine Engine segment manufactures and markets a range of outboard engines, sterndrive engines, inboard engines and marine parts and accessories, which are principally sold directly to boat builders, including Brunswick’s Boat segment, or through marine retail dealers and distributors across the world.
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