Brunswick Corp. (BC) Trading Down 4.5%
Brunswick Corp. (NYSE:BC) shares were down 4.5% during trading on Tuesday . The stock traded as low as $47.10 and last traded at $47.37, with a volume of 1,339,369 shares changing hands. The stock had previously closed at $49.60.
BC has been the topic of a number of analyst reports. Sterne Agee CRT reaffirmed a “buy” rating on shares of Brunswick Corp. in a research report on Thursday, April 21st. Zacks Investment Research raised Brunswick Corp. from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Monday, May 2nd. B. Riley reaffirmed a “buy” rating and set a $70.00 target price on shares of Brunswick Corp. in a research report on Friday, April 29th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $50.00 target price on shares of Brunswick Corp. in a research report on Friday, April 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $56.09.
The firm has a market capitalization of $4.22 billion and a price-to-earnings ratio of 18.18. The stock has a 50-day moving average of $48.06 and a 200 day moving average of $46.37.
Brunswick Corp. (NYSE:BC) last released its earnings results on Thursday, July 28th. The company reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.01. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the firm earned $1.05 EPS. The firm’s revenue was up 8.8% on a year-over-year basis. Analysts anticipate that Brunswick Corp. will post $3.48 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, August 19th.
In other news, insider John C. Pfeifer sold 1,519 shares of the company’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $47.69, for a total transaction of $72,441.11. Following the completion of the transaction, the insider now owns 50,655 shares of the company’s stock, valued at $2,415,736.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William Metzger sold 19,051 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $49.52, for a total transaction of $943,405.52. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently made changes to their positions in BC. Broadview Advisors LLC raised its position in shares of Brunswick Corp. by 1.8% in the fourth quarter. Broadview Advisors LLC now owns 152,025 shares of the company’s stock worth $7,679,000 after buying an additional 2,650 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Brunswick Corp. by 6.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 26,078 shares of the company’s stock worth $1,317,000 after buying an additional 1,471 shares in the last quarter. Trexquant Investment LP raised its position in shares of Brunswick Corp. by 145.0% in the fourth quarter. Trexquant Investment LP now owns 26,480 shares of the company’s stock worth $1,338,000 after buying an additional 15,671 shares in the last quarter. US Bancorp DE raised its position in shares of Brunswick Corp. by 6.8% in the fourth quarter. US Bancorp DE now owns 59,619 shares of the company’s stock worth $3,011,000 after buying an additional 3,791 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Brunswick Corp. by 1.6% in the fourth quarter. Principal Financial Group Inc. now owns 294,190 shares of the company’s stock worth $14,859,000 after buying an additional 4,661 shares in the last quarter.
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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