Arizona State Retirement System raised its holdings in Briggs & Stratton Co. (NYSE:BGG) by 224.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 72,040 shares of the industrial products company’s stock after acquiring an additional 49,807 shares during the quarter. Arizona State Retirement System owned approximately 0.17% of Briggs & Stratton worth $1,828,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Pinebridge Investments L.P. increased its position in Briggs & Stratton by 48.0% in the 4th quarter. Pinebridge Investments L.P. now owns 88,598 shares of the industrial products company’s stock valued at $2,247,000 after acquiring an additional 28,717 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Briggs & Stratton by 20.8% in the 4th quarter. Wells Fargo & Company MN now owns 83,598 shares of the industrial products company’s stock valued at $2,121,000 after purchasing an additional 14,419 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Briggs & Stratton by 15.2% in the 4th quarter. First Trust Advisors LP now owns 97,420 shares of the industrial products company’s stock valued at $2,472,000 after purchasing an additional 12,868 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Briggs & Stratton by 7.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 57,486 shares of the industrial products company’s stock valued at $1,458,000 after purchasing an additional 3,868 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Briggs & Stratton in the 4th quarter valued at $374,000. Hedge funds and other institutional investors own 84.59% of the company’s stock.
A number of research firms have recently commented on BGG. Robert W. Baird reaffirmed a “hold” rating and issued a $26.00 price objective on shares of Briggs & Stratton in a research note on Tuesday, January 9th. Citigroup raised shares of Briggs & Stratton to a “market perform” rating in a research note on Tuesday, January 16th. They noted that the move was a valuation call. ValuEngine raised shares of Briggs & Stratton from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research raised shares of Briggs & Stratton from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective on the stock in a research note on Thursday, January 18th. Finally, Raymond James Financial raised shares of Briggs & Stratton from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $28.50.
Shares of Briggs & Stratton Co. (BGG) opened at $22.79 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.68 and a quick ratio of 0.64. Briggs & Stratton Co. has a 12 month low of $20.00 and a 12 month high of $27.34. The company has a market cap of $973.67, a price-to-earnings ratio of 20.35 and a beta of 0.66.
Briggs & Stratton (NYSE:BGG) last issued its earnings results on Wednesday, January 24th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The business had revenue of $446.00 million for the quarter, compared to analyst estimates of $424.00 million. Briggs & Stratton had a net margin of 1.31% and a return on equity of 10.25%. Briggs & Stratton’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 earnings per share. sell-side analysts anticipate that Briggs & Stratton Co. will post 1.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Friday, March 16th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.46%. The ex-dividend date is Thursday, March 15th. Briggs & Stratton’s dividend payout ratio is presently 50.00%.
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Briggs & Stratton Profile
Briggs & Stratton Corporation is a producer of gasoline engines for outdoor power equipment. The Company designs, manufactures, markets, sells and services the various products for original equipment manufacturers (OEMs) around the world. It also markets and sells related service parts and accessories for its engines.
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