Trexquant Investment LP Takes Position in Brunswick Corporation (BC)
Trexquant Investment LP acquired a new stake in Brunswick Corporation (NYSE:BC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,500 shares of the company’s stock, valued at approximately $345,000.
Other hedge funds have also modified their holdings of the company. James Investment Research Inc. acquired a new stake in shares of Brunswick Corporation during the first quarter valued at $145,000. Venturi Wealth Management LLC acquired a new stake in shares of Brunswick Corporation during the first quarter valued at $207,000. Envestnet Asset Management Inc. boosted its stake in shares of Brunswick Corporation by 59.8% in the first quarter. Envestnet Asset Management Inc. now owns 3,932 shares of the company’s stock valued at $240,000 after buying an additional 1,472 shares during the period. Wright Investors Service Inc. boosted its stake in shares of Brunswick Corporation by 21.4% in the second quarter. Wright Investors Service Inc. now owns 4,190 shares of the company’s stock valued at $263,000 after buying an additional 740 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Brunswick Corporation during the first quarter valued at $271,000. Institutional investors and hedge funds own 99.27% of the company’s stock.
Brunswick Corporation (NYSE BC) opened at 55.61 on Thursday. The firm has a 50-day moving average of $59.27 and a 200 day moving average of $59.09. Brunswick Corporation has a 12-month low of $42.02 and a 12-month high of $63.82. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 17.64 and a beta of 1.81.
Brunswick Corporation (NYSE:BC) last issued its quarterly earnings results on Thursday, July 27th. The company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.02. Brunswick Corporation had a net margin of 6.13% and a return on equity of 23.35%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the business earned $1.17 earnings per share. The business’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts expect that Brunswick Corporation will post $4.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Friday, August 18th. Brunswick Corporation’s payout ratio is currently 20.95%.
Several analysts have weighed in on the stock. Forward View set a $60.00 price objective on shares of Brunswick Corporation and gave the stock a “hold” rating in a research note on Sunday, July 30th. BidaskClub cut shares of Brunswick Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded shares of Brunswick Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $65.00 price objective on shares of Brunswick Corporation in a research note on Wednesday, July 12th. Finally, Northcoast Research cut shares of Brunswick Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, July 10th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $65.82.
In other Brunswick Corporation news, insider William Metzger sold 559 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $62.50, for a total transaction of $34,937.50. Following the transaction, the insider now directly owns 115,673 shares in the company, valued at $7,229,562.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark D. Schwabero sold 29,552 shares of the stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $63.74, for a total transaction of $1,883,644.48. The disclosure for this sale can be found here. Insiders have sold 51,439 shares of company stock worth $3,258,968 over the last quarter. Company insiders own 1.00% of the company’s stock.
About Brunswick Corporation
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
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