State Treasurer State of Michigan Reduces Position in Brunswick Corporation (BC)
State Treasurer State of Michigan lowered its holdings in shares of Brunswick Corporation (NYSE:BC) by 9.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,400 shares of the company’s stock after selling 3,400 shares during the period. State Treasurer State of Michigan’s holdings in Brunswick Corporation were worth $1,869,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Advisors Asset Management Inc. bought a new stake in Brunswick Corporation during the second quarter worth about $134,000. Bronfman E.L. Rothschild L.P. boosted its stake in Brunswick Corporation by 149.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,550 shares of the company’s stock worth $160,000 after acquiring an additional 1,529 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Brunswick Corporation by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,217 shares of the company’s stock worth $202,000 after acquiring an additional 280 shares in the last quarter. Advisor Group Inc. boosted its stake in Brunswick Corporation by 2.7% during the second quarter. Advisor Group Inc. now owns 3,306 shares of the company’s stock worth $202,000 after acquiring an additional 87 shares in the last quarter. Finally, Pitcairn Co. bought a new stake in Brunswick Corporation during the second quarter worth about $213,000. 93.65% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently commented on BC shares. Northcoast Research lowered 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. Zacks Investment Research downgraded shares of Brunswick Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Royal Bank Of Canada reiterated a “buy” rating and issued a $65.00 target price on shares of Brunswick Corporation in a research note on Wednesday, July 12th. BMO Capital Markets reiterated a “buy” rating and issued a $72.00 target price on shares of Brunswick Corporation in a research note on Thursday, July 13th. Finally, Stifel Nicolaus upped their target price on shares of Brunswick Corporation from $66.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $63.29.
Brunswick Corporation (BC) opened at $51.56 on Friday. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 13.32, a P/E/G ratio of 0.80 and a beta of 1.87. The company has a current ratio of 1.81, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28.
Brunswick Corporation (NYSE:BC) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.09). Brunswick Corporation had a return on equity of 22.71% and a net margin of 5.93%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. equities analysts forecast that Brunswick Corporation will post 3.86 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 21st will be given a $0.19 dividend. This is a positive change from Brunswick Corporation’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Monday, November 20th. Brunswick Corporation’s dividend payout ratio (DPR) is currently 21.29%.
Brunswick Corporation Profile
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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