Alambic Investment Management L.P. purchased a new stake in shares of Briggs & Stratton Co. (NYSE:BGG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 70,600 shares of the industrial products company’s stock, valued at approximately $1,243,000. Alambic Investment Management L.P. owned approximately 0.17% of Briggs & Stratton at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Briggs & Stratton by 3.7% in the 2nd quarter. BlackRock Inc. now owns 6,448,589 shares of the industrial products company’s stock valued at $113,561,000 after buying an additional 228,281 shares during the period. Brandes Investment Partners LP increased its stake in shares of Briggs & Stratton by 25.1% in the 2nd quarter. Brandes Investment Partners LP now owns 2,529,341 shares of the industrial products company’s stock valued at $44,541,000 after buying an additional 508,224 shares during the period. LSV Asset Management increased its stake in shares of Briggs & Stratton by 0.5% in the 2nd quarter. LSV Asset Management now owns 2,325,617 shares of the industrial products company’s stock valued at $40,954,000 after buying an additional 10,900 shares during the period. Northern Trust Corp increased its stake in shares of Briggs & Stratton by 1.3% in the 1st quarter. Northern Trust Corp now owns 898,898 shares of the industrial products company’s stock valued at $19,245,000 after buying an additional 11,337 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Briggs & Stratton by 13.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 493,370 shares of the industrial products company’s stock valued at $8,689,000 after buying an additional 59,385 shares during the period. 81.93% of the stock is owned by hedge funds and other institutional investors.

Shares of Briggs & Stratton stock opened at $20.20 on Friday. The stock has a market capitalization of $858.35 million, a PE ratio of 15.66 and a beta of 0.67. Briggs & Stratton Co. has a one year low of $16.26 and a one year high of $27.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.70 and a current ratio of 1.77.

Briggs & Stratton (NYSE:BGG) last issued its quarterly earnings results on Wednesday, August 15th. The industrial products company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The company had revenue of $501.69 million for the quarter, compared to analyst estimates of $495.83 million. Briggs & Stratton had a positive return on equity of 10.13% and a negative net margin of 0.60%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 earnings per share. analysts predict that Briggs & Stratton Co. will post 1.45 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 3rd. Investors of record on Tuesday, September 18th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Monday, September 17th. Briggs & Stratton’s dividend payout ratio is currently 43.41%.

A number of brokerages recently commented on BGG. ValuEngine cut Briggs & Stratton from a “sell” rating to a “strong sell” rating in a research note on Friday, June 1st. Zacks Investment Research raised Briggs & Stratton from a “sell” rating to a “hold” rating in a research note on Wednesday, June 27th. Sidoti cut Briggs & Stratton from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research note on Thursday, July 19th. Finally, Northcoast Research reaffirmed a “buy” rating and set a $25.00 price objective on shares of Briggs & Stratton in a research note on Friday, August 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $24.75.

In related news, insider Todd J. Teske sold 87,398 shares of Briggs & Stratton stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $20.91, for a total value of $1,827,492.18. Following the sale, the insider now owns 453,723 shares of the company’s stock, valued at $9,487,347.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.20% of the stock is currently owned by insiders.

About Briggs & Stratton

Briggs & Stratton Corporation designs, manufactures, markets, sells, and services gasoline engines for outdoor power equipment to the original equipment manufacturers in the United States. It operates in two segments, Engines and Products. The Engines segment offers four-cycle aluminum alloy gasoline engines that are used primarily by the lawn and garden equipment industry.

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Institutional Ownership by Quarter for Briggs & Stratton (NYSE:BGG)

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