TimesSquare Capital Management LLC Has $122.65 Million Stake in Brunswick Corporation (BC)
TimesSquare Capital Management LLC lifted its holdings in shares of Brunswick Corporation (NYSE:BC) by 12.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,191,300 shares of the company’s stock after purchasing an additional 240,600 shares during the quarter. Brunswick Corporation comprises about 0.8% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 29th biggest position. TimesSquare Capital Management LLC owned about 2.50% of Brunswick Corporation worth $122,647,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Boston Partners boosted its holdings in Brunswick Corporation by 3.8% in the second quarter. Boston Partners now owns 9,306,042 shares of the company’s stock valued at $583,768,000 after acquiring an additional 338,212 shares during the last quarter. BlackRock Inc. raised its position in Brunswick Corporation by 0.9% in the second quarter. BlackRock Inc. now owns 7,553,692 shares of the company’s stock valued at $473,842,000 after purchasing an additional 65,605 shares during the period. Vanguard Group Inc. raised its position in Brunswick Corporation by 1.1% in the second quarter. Vanguard Group Inc. now owns 7,234,542 shares of the company’s stock valued at $453,822,000 after purchasing an additional 76,262 shares during the period. Victory Capital Management Inc. raised its position in Brunswick Corporation by 10.2% in the third quarter. Victory Capital Management Inc. now owns 1,581,911 shares of the company’s stock valued at $88,539,000 after purchasing an additional 146,661 shares during the period. Finally, AJO LP raised its position in Brunswick Corporation by 1,548.4% in the second quarter. AJO LP now owns 1,538,793 shares of the company’s stock valued at $96,528,000 after purchasing an additional 1,445,444 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.
Shares of Brunswick Corporation (BC) traded up $0.09 during mid-day trading on Thursday, reaching $52.59. The company’s stock had a trading volume of 837,400 shares, compared to its average volume of 1,055,215. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.81. Brunswick Corporation has a 12 month low of $47.53 and a 12 month high of $63.82. The firm has a market capitalization of $4,603.72, a P/E ratio of 13.93, a P/E/G ratio of 0.84 and a beta of 1.87.
Brunswick Corporation (NYSE:BC) last issued its earnings results on Thursday, October 26th. The company reported $0.91 EPS for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.09). Brunswick Corporation had a net margin of 5.93% and a return on equity of 22.71%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. analysts anticipate that Brunswick Corporation will post 3.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 21st will be paid a dividend of $0.19 per share. This is an increase from Brunswick Corporation’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Monday, November 20th. Brunswick Corporation’s payout ratio is 24.52%.
BC has been the topic of several research reports. B. Riley reissued a “buy” rating and issued a $70.00 price objective on shares of Brunswick Corporation in a research report on Friday, July 28th. KeyCorp reaffirmed a “buy” rating and set a $62.00 target price on shares of Brunswick Corporation in a research report on Thursday, August 31st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $67.00 target price on shares of Brunswick Corporation in a research report on Thursday, August 31st. Aegis reaffirmed a “buy” rating and set a $73.00 target price on shares of Brunswick Corporation in a research report on Thursday, August 17th. Finally, Forward View raised Brunswick Corporation from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Sunday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. Brunswick Corporation has a consensus rating of “Buy” and an average price target of $62.50.
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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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