Crossmark Global Holdings Inc. lifted its holdings in shares of Briggs & Stratton Co. (NYSE:BGG) by 1,777.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 270,905 shares of the industrial products company’s stock after acquiring an additional 256,476 shares during the quarter. Crossmark Global Holdings Inc. owned approximately 0.63% of Briggs & Stratton worth $6,873,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Briggs & Stratton by 15.8% during the second quarter. BlackRock Inc. now owns 6,559,290 shares of the industrial products company’s stock valued at $158,080,000 after acquiring an additional 892,989 shares in the last quarter. LSV Asset Management raised its holdings in shares of Briggs & Stratton by 1.1% during the fourth quarter. LSV Asset Management now owns 2,309,617 shares of the industrial products company’s stock valued at $58,594,000 after acquiring an additional 24,600 shares in the last quarter. State Street Corp raised its holdings in shares of Briggs & Stratton by 4.7% during the second quarter. State Street Corp now owns 1,189,916 shares of the industrial products company’s stock valued at $28,674,000 after acquiring an additional 53,505 shares in the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Briggs & Stratton by 2.2% during the third quarter. Frontier Capital Management Co. LLC now owns 1,046,450 shares of the industrial products company’s stock valued at $24,592,000 after acquiring an additional 22,438 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Briggs & Stratton by 8.0% during the second quarter. Northern Trust Corp now owns 898,841 shares of the industrial products company’s stock valued at $21,662,000 after acquiring an additional 66,716 shares in the last quarter. Institutional investors own 84.55% of the company’s stock.
Briggs & Stratton Co. (NYSE BGG) traded down $0.05 during midday trading on Wednesday, hitting $21.85. The stock had a trading volume of 41,037 shares, compared to its average volume of 457,737. Briggs & Stratton Co. has a 52-week low of $20.00 and a 52-week high of $27.34. The stock has a market capitalization of $945.35, a PE ratio of 40.38 and a beta of 0.61. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.64 and a current ratio of 1.68.
Briggs & Stratton (NYSE:BGG) last released its earnings results on Wednesday, January 24th. The industrial products company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Briggs & Stratton had a return on equity of 10.25% and a net margin of 1.31%. The firm had revenue of $446.00 million for the quarter, compared to analysts’ expectations of $424.00 million. During the same period in the prior year, the firm posted $0.35 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. equities research analysts expect that Briggs & Stratton Co. will post 1.53 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Friday, March 16th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, March 15th. This represents a $0.56 annualized dividend and a dividend yield of 2.56%. Briggs & Stratton’s dividend payout ratio (DPR) is presently 103.71%.
In related news, insider Todd J. Teske sold 60,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $24.01, for a total transaction of $1,440,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.20% of the company’s stock.
BGG has been the subject of a number of research reports. Raymond James Financial reiterated an “underperform” rating on shares of Briggs & Stratton in a report on Tuesday, October 17th. They noted that the move was a valuation call. Zacks Investment Research upgraded Briggs & Stratton from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 17th. ValuEngine upgraded Briggs & Stratton from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Robert W. Baird reiterated a “hold” rating and issued a $26.00 price objective on shares of Briggs & Stratton in a report on Tuesday, January 9th. Finally, Citigroup upgraded Briggs & Stratton to a “market perform” rating in a report on Tuesday, January 16th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $28.50.
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Briggs & Stratton 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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