Briggs & Stratton Corporation (BGG) Stake Lifted by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan lifted its holdings in Briggs & Stratton Corporation (NYSE:BGG) by 25.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,920 shares of the industrial products company’s stock after purchasing an additional 5,940 shares during the quarter. Municipal Employees Retirement System of Michigan owned 0.07% of Briggs & Stratton worth $679,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its stake in shares of Briggs & Stratton by 3.9% in the first quarter. Public Employees Retirement System of Ohio now owns 6,937 shares of the industrial products company’s stock worth $156,000 after purchasing an additional 263 shares in the last quarter. Fiduciary Trust Co. bought a new position in shares of Briggs & Stratton in the second quarter worth $181,000. SG Americas Securities LLC grew its stake in shares of Briggs & Stratton by 12.3% in the second quarter. SG Americas Securities LLC now owns 8,157 shares of the industrial products company’s stock worth $197,000 after purchasing an additional 895 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Briggs & Stratton by 76.9% in the second quarter. State of Alaska Department of Revenue now owns 8,403 shares of the industrial products company’s stock worth $202,000 after purchasing an additional 3,653 shares in the last quarter. Finally, Piedmont Investment Advisors LLC bought a new position in shares of Briggs & Stratton in the second quarter worth $223,000. 83.00% of the stock is owned by institutional investors.
In other news, SVP David J. Rodgers sold 18,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $24.28, for a total transaction of $437,040.00. Following the completion of the sale, the senior vice president now directly owns 118,383 shares of the company’s stock, valued at $2,874,339.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Andrea L. Golvach sold 19,174 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $25.20, for a total value of $483,184.80. Following the sale, the vice president now directly owns 27,197 shares of the company’s stock, valued at $685,364.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,174 shares of company stock valued at $2,360,825. Insiders own 4.20% of the company’s stock.
Several brokerages have recently weighed in on BGG. ValuEngine upgraded Briggs & Stratton from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Zacks Investment Research upgraded Briggs & Stratton from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a report on Monday, October 30th. Raymond James Financial restated an “underperform” rating on shares of Briggs & Stratton in a report on Tuesday, October 17th. They noted that the move was a valuation call. Finally, BidaskClub upgraded Briggs & Stratton from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $26.50.
Shares of Briggs & Stratton Corporation (BGG) traded down $0.01 during trading on Friday, hitting $24.90. The stock had a trading volume of 372,000 shares, compared to its average volume of 264,596. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.70 and a current ratio of 1.82. The firm has a market capitalization of $1,070.00, a price-to-earnings ratio of 18.08 and a beta of 0.79. Briggs & Stratton Corporation has a twelve month low of $20.00 and a twelve month high of $25.95.
Briggs & Stratton (NYSE:BGG) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported ($0.27) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.08. The business had revenue of $329.10 million during the quarter, compared to analyst estimates of $295.84 million. Briggs & Stratton had a return on equity of 11.38% and a net margin of 3.05%. The company’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.34) earnings per share. equities research analysts expect that Briggs & Stratton Corporation will post 1.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Friday, December 15th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.56 annualized dividend and a dividend yield of 2.25%. Briggs & Stratton’s dividend payout ratio (DPR) is 43.75%.
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Briggs & Stratton Company Profile
Briggs & Stratton Corporation is a producer of gasoline engines for outdoor power equipment. The Company designs, manufactures, markets, sells and services the various products for original equipment manufacturers (OEMs) around the world. It also markets and sells related service parts and accessories for its engines.
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