State of Tennessee Treasury Department lessened its stake in Briggs & Stratton (NYSE:BGG) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,140 shares of the industrial products company’s stock after selling 3,717 shares during the quarter. State of Tennessee Treasury Department owned 0.08% of Briggs & Stratton worth $866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Rhumbline Advisers increased its holdings in Briggs & Stratton by 16.3% in the 4th quarter. Rhumbline Advisers now owns 102,312 shares of the industrial products company’s stock worth $2,596,000 after buying an additional 14,353 shares in the last quarter. Arizona State Retirement System increased its holdings in Briggs & Stratton by 224.0% in the 4th quarter. Arizona State Retirement System now owns 72,040 shares of the industrial products company’s stock worth $1,828,000 after buying an additional 49,807 shares in the last quarter. Pinebridge Investments L.P. increased its holdings in Briggs & Stratton by 48.0% in the 4th quarter. Pinebridge Investments L.P. now owns 88,598 shares of the industrial products company’s stock worth $2,247,000 after buying an additional 28,717 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Briggs & Stratton by 20.8% in the 4th quarter. Wells Fargo & Company MN now owns 83,598 shares of the industrial products company’s stock worth $2,121,000 after buying an additional 14,419 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Briggs & Stratton by 15.2% in the 4th quarter. First Trust Advisors LP now owns 97,420 shares of the industrial products company’s stock worth $2,472,000 after buying an additional 12,868 shares in the last quarter. Institutional investors own 84.72% of the company’s stock.
Several equities research analysts recently commented on BGG shares. ValuEngine upgraded Briggs & Stratton from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Robert W. Baird restated a “hold” rating and set a $26.00 price target on shares of Briggs & Stratton in a research note on Tuesday, January 9th. Zacks Investment Research downgraded Briggs & Stratton from a “buy” rating to a “hold” rating in a research note on Tuesday, January 30th. Raymond James Financial upgraded Briggs & Stratton from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 16th. Finally, Citigroup upgraded Briggs & Stratton to a “market perform” rating in a research note on Tuesday, January 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $28.50.
Shares of Briggs & Stratton stock traded down $0.61 during trading hours on Friday, reaching $20.36. 276,497 shares of the stock traded hands, compared to its average volume of 345,790. The company has a market cap of $899.86, a P/E ratio of 15.54 and a beta of 0.67. Briggs & Stratton has a one year low of $20.00 and a one year high of $27.34. The company has a quick ratio of 0.64, a current ratio of 1.68 and a debt-to-equity ratio of 0.42.
Briggs & Stratton (NYSE:BGG) last released its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. The business had revenue of $446.00 million during the quarter, compared to the consensus estimate of $424.00 million. Briggs & Stratton had a return on equity of 10.25% and a net margin of 1.31%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 EPS. research analysts anticipate that Briggs & Stratton will post 1.53 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Investors of record on Friday, March 16th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, March 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.75%. Briggs & Stratton’s dividend payout ratio (DPR) is presently 42.75%.
In related news, insider Todd J. Teske sold 5,410 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $22.55, for a total transaction of $121,995.50. Following the completion of the transaction, the insider now directly owns 378,997 shares in the company, valued at approximately $8,546,382.35. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Todd J. Teske sold 26,573 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $22.97, for a total value of $610,381.81. Following the transaction, the chief executive officer now owns 381,604 shares of the company’s stock, valued at $8,765,443.88. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.
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Briggs & Stratton Company Profile
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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