Brunswick Corp. (BC) Sees Strong Trading Volume
Brunswick Corp. (NYSE:BC) saw unusually-strong trading volume on Tuesday . Approximately 1,243,450 shares were traded during mid-day trading, an increase of 22% from the previous session’s volume of 1,020,475 shares.The stock last traded at $50.48 and had previously closed at $49.00.
Several analysts have weighed in on BC shares. Zacks Investment Research raised Brunswick Corp. from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Monday, May 2nd. B. Riley reaffirmed a “buy” rating and issued a $70.00 price target on shares of Brunswick Corp. in a report on Friday, April 29th. TheStreet raised Brunswick Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, March 29th. Sterne Agee CRT reaffirmed a “buy” rating on shares of Brunswick Corp. in a report on Thursday, April 21st. Finally, Jefferies Group raised their price target on Brunswick Corp. from $47.00 to $50.00 and gave the company a “hold” rating in a report on Monday, March 28th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $56.55.
The firm has a 50 day moving average of $47.19 and a 200-day moving average of $45.60. The firm has a market capitalization of $4.59 billion and a price-to-earnings ratio of 19.01.
Brunswick Corp. (NYSE:BC) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.71 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.71. The business earned $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm earned $0.59 EPS. The business’s revenue was up 8.6% on a year-over-year basis. On average, equities analysts forecast that Brunswick Corp. will post $3.48 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 19th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.19%.
In other news, 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 value of $943,405.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the insider now directly owns 50,655 shares of the company’s stock, valued at $2,415,736.95. The disclosure for this sale can be found here.
Other large investors have made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its stake 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 during the last quarter. Trexquant Investment LP boosted its stake 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 during the last quarter. US Bancorp DE boosted its stake 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 during the last quarter. ARGI Investment Services LLC boosted its stake in shares of Brunswick Corp. by 2.5% in the fourth quarter. ARGI Investment Services LLC now owns 22,014 shares of the company’s stock worth $1,112,000 after buying an additional 535 shares during the last quarter. Finally, Strategic Global Advisors LLC boosted its stake in shares of Brunswick Corp. by 6.9% in the fourth quarter. Strategic Global Advisors LLC now owns 28,097 shares of the company’s stock worth $1,419,000 after buying an additional 1,820 shares during 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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