BlackRock Inc. lifted its holdings in Brunswick Co. (NYSE:BC) by 0.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,473,325 shares of the company’s stock after buying an additional 28,423 shares during the quarter. BlackRock Inc. owned approximately 8.62% of Brunswick worth $500,861,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of BC. Dubuque Bank & Trust Co. boosted its holdings in shares of Brunswick by 4,476.9% during the third quarter. Dubuque Bank & Trust Co. now owns 2,975 shares of the company’s stock worth $199,000 after purchasing an additional 2,910 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of Brunswick during the second quarter worth approximately $200,000. GAM Holding AG acquired a new stake in shares of Brunswick during the second quarter worth approximately $203,000. GWM Advisors LLC acquired a new stake in shares of Brunswick during the third quarter worth approximately $217,000. Finally, Greenwood Capital Associates LLC acquired a new stake in shares of Brunswick during the second quarter worth approximately $216,000. Institutional investors own 94.19% of the company’s stock.
NYSE BC opened at $49.57 on Friday. The company has a quick ratio of 0.65, a current ratio of 1.26 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 0.90 and a beta of 1.82. Brunswick Co. has a 12-month low of $48.36 and a 12-month high of $69.82.
Brunswick (NYSE:BC) last posted its earnings results on Thursday, October 25th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.09. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Brunswick had a net margin of 2.12% and a return on equity of 26.19%. As a group, analysts anticipate that Brunswick Co. will post 4.69 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 20th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, November 19th. This is a boost from Brunswick’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a yield of 1.69%. Brunswick’s payout ratio is 21.59%.
In other news, Director Manuel A. Fernandez acquired 13,235 shares of Brunswick stock in a transaction dated Friday, November 30th. The stock was acquired at an average cost of $53.09 per share, for a total transaction of $702,646.15. Following the completion of the purchase, the director now owns 109,784 shares of the company’s stock, valued at $5,828,432.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ralph C. Stayer acquired 3,310 shares of Brunswick stock in a transaction dated Thursday, December 6th. The stock was purchased at an average price of $51.22 per share, with a total value of $169,538.20. Following the completion of the purchase, the director now directly owns 116,211 shares of the company’s stock, valued at approximately $5,952,327.42. The disclosure for this purchase can be found here. 1.00% of the stock is owned by insiders.
Several research firms recently commented on BC. Zacks Investment Research cut shares of Brunswick from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Wedbush raised their price target on shares of Brunswick from $70.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, August 13th. They noted that the move was a valuation call. ValuEngine cut shares of Brunswick from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Citigroup decreased their price target on shares of Brunswick from $81.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 15th. Finally, TheStreet cut shares of Brunswick from a “b” rating to a “c+” rating in a report on Thursday, October 25th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $72.00.
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Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, service parts, and lubricants; and diesel propulsion systems to the recreational and commercial marine markets.
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