Baird Financial Group Inc. increased its stake in shares of Brunswick Co. (NYSE:BC) by 5.2% in the third quarter, HoldingsChannel reports. The firm owned 30,608 shares of the company’s stock after buying an additional 1,502 shares during the quarter. Baird Financial Group Inc.’s holdings in Brunswick were worth $2,039,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. PointState Capital LP acquired a new position in Brunswick in the 2nd quarter valued at approximately $10,059,000. Oakbrook Investments LLC increased its position in Brunswick by 33.8% in the 3rd quarter. Oakbrook Investments LLC now owns 11,080 shares of the company’s stock valued at $743,000 after acquiring an additional 2,800 shares during the period. Raymond James & Associates increased its position in Brunswick by 12.8% in the 2nd quarter. Raymond James & Associates now owns 24,775 shares of the company’s stock valued at $1,597,000 after acquiring an additional 2,805 shares during the period. Point72 Hong Kong Ltd increased its position in Brunswick by 244.6% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,405 shares of the company’s stock valued at $220,000 after acquiring an additional 2,417 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Brunswick by 26.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 166,390 shares of the company’s stock valued at $11,150,000 after acquiring an additional 34,710 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

BC has been the subject of several recent research reports. ValuEngine upgraded shares of Brunswick from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Citigroup reduced their price objective on shares of Brunswick from $81.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, August 15th. TheStreet lowered shares of Brunswick from a “b” rating to a “c+” rating in a research note on Thursday, October 25th. Zacks Investment Research lowered shares of Brunswick from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Finally, Imperial Capital reaffirmed an “outperform” rating and issued a $70.00 price objective (down from $90.00) on shares of Brunswick in a research note on Friday, October 26th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Brunswick presently has an average rating of “Buy” and a consensus price target of $72.00.

In related news, Director Ralph C. Stayer bought 3,310 shares of the business’s stock in a transaction that occurred on Thursday, December 6th. The shares were acquired at an average cost of $51.22 per share, with a total value of $169,538.20. Following the completion of the purchase, the director now directly owns 116,211 shares in the company, valued at $5,952,327.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John C. Pfeifer sold 5,446 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $66.95, for a total transaction of $364,609.70. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

NYSE:BC opened at $49.57 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.65 and a current ratio of 1.26. Brunswick Co. has a 52 week low of $48.36 and a 52 week high of $69.82. The firm has a market capitalization of $4.30 billion, a PE ratio of 12.74, a PEG ratio of 0.86 and a beta of 1.82.

Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, October 25th. The company reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.09. Brunswick had a net margin of 2.12% and a return on equity of 26.19%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.26 billion. Equities research analysts forecast that Brunswick Co. will post 4.69 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 20th will be paid a $0.21 dividend. This is a positive change from Brunswick’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Monday, November 19th. Brunswick’s dividend payout ratio is currently 21.59%.

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Brunswick Profile

Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, service parts, and lubricants; and diesel propulsion systems to the recreational and commercial marine markets.

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Want to see what other hedge funds are holding BC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brunswick Co. (NYSE:BC).

Institutional Ownership by Quarter for Brunswick (NYSE:BC)

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