Brunswick (NYSE:BC) Hits New 1-Year Low – Here’s What Happened

Brunswick Co. (NYSE:BC) shares reached a new 52-week low during trading on Thursday . The company traded as low as $54.97 and last traded at $55.48, with a volume of 267264 shares changing hands. The stock had previously closed at $56.53.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BC. Truist Financial dropped their price objective on Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. DA Davidson dropped their price target on Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Morgan Stanley boosted their price objective on shares of Brunswick from $64.00 to $65.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Stifel Nicolaus dropped their target price on shares of Brunswick from $95.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Finally, B. Riley upgraded shares of Brunswick to a “hold” rating in a research report on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.62.

Brunswick Stock Down 0.6 %

The stock’s 50 day simple moving average is $64.48 and its two-hundred day simple moving average is $73.63. The firm has a market cap of $3.70 billion, a P/E ratio of 29.56 and a beta of 1.54. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 0.63.

Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. Brunswick had a return on equity of 15.41% and a net margin of 2.48%. During the same quarter last year, the firm posted $1.45 earnings per share. As a group, research analysts forecast that Brunswick Co. will post 4.19 earnings per share for the current year.

Brunswick Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 24th will be paid a $0.43 dividend. This is a boost from Brunswick’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.72 dividend on an annualized basis and a yield of 3.06%. Brunswick’s payout ratio is presently 90.53%.

Insider Buying and Selling at Brunswick

In other Brunswick news, SVP Randall S. Altman sold 3,417 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total transaction of $215,988.57. Following the sale, the senior vice president now directly owns 26,683 shares in the company, valued at approximately $1,686,632.43. This trade represents a 11.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nancy E. Cooper sold 433 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $65.65, for a total value of $28,426.45. Following the completion of the transaction, the director now owns 25,361 shares of the company’s stock, valued at $1,664,949.65. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Brunswick

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Armstrong Advisory Group Inc. bought a new position in Brunswick during the fourth quarter valued at approximately $39,000. Financial Perspectives Inc bought a new position in shares of Brunswick during the 4th quarter valued at $42,000. Quarry LP purchased a new position in shares of Brunswick in the 4th quarter worth $45,000. Avior Wealth Management LLC boosted its stake in shares of Brunswick by 1,073.7% in the 3rd quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock worth $56,000 after buying an additional 612 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Brunswick by 669.0% in the third quarter. Covestor Ltd now owns 969 shares of the company’s stock worth $81,000 after acquiring an additional 843 shares during the period. Institutional investors own 99.34% of the company’s stock.

Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.