Metropolitan Life Insurance Co. NY cut its holdings in Briggs & Stratton (NYSE:BGG) by 73.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,781 shares of the industrial products company’s stock after selling 38,867 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Briggs & Stratton were worth $350,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in BGG. Acadian Asset Management LLC acquired a new position in shares of Briggs & Stratton in the fourth quarter valued at about $148,000. Stone Ridge Asset Management LLC acquired a new position in shares of Briggs & Stratton in the fourth quarter valued at about $259,000. Teacher Retirement System of Texas acquired a new position in shares of Briggs & Stratton in the fourth quarter valued at about $374,000. OxFORD Asset Management LLP grew its stake in shares of Briggs & Stratton by 64.2% in the third quarter. OxFORD Asset Management LLP now owns 17,709 shares of the industrial products company’s stock valued at $417,000 after acquiring an additional 6,923 shares in the last quarter. Finally, HBK Investments L P grew its stake in shares of Briggs & Stratton by 85.1% in the fourth quarter. HBK Investments L P now owns 17,400 shares of the industrial products company’s stock valued at $441,000 after acquiring an additional 8,000 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.
In other news, insider Todd J. Teske sold 5,410 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $22.55, for a total value of $121,995.50. Following the sale, the insider now directly owns 378,997 shares in the company, valued at approximately $8,546,382.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Todd J. Teske sold 26,573 shares of the firm’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 transaction of $610,381.81. Following the completion of the sale, the chief executive officer now owns 381,604 shares in the company, valued at $8,765,443.88. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.
Shares of Briggs & Stratton stock opened at $21.15 on Thursday. The stock has a market cap of $891.28, a price-to-earnings ratio of 16.15 and a beta of 0.67. 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 has a 12-month low of $20.00 and a 12-month high of $27.34.
Briggs & Stratton (NYSE:BGG) last announced its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The firm had revenue of $446.00 million for the quarter, compared to the consensus estimate of $424.00 million. Briggs & Stratton had a net margin of 1.31% and a return on equity of 10.25%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. analysts predict that Briggs & Stratton will post 1.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Shareholders of record on Friday, March 16th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, March 15th. This represents a $0.56 dividend on an annualized basis and a yield of 2.65%. Briggs & Stratton’s payout ratio is 42.75%.
Several equities analysts recently commented on BGG shares. Robert W. Baird restated a “hold” rating and issued a $26.00 price target on shares of Briggs & Stratton in a research note on Tuesday, January 9th. Zacks Investment Research upgraded shares of Briggs & Stratton from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective on the stock in a research note on Thursday, January 18th. Raymond James upgraded shares of Briggs & Stratton from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 16th. Citigroup upgraded shares of Briggs & Stratton to a “market perform” rating in a research note on Tuesday, January 16th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Briggs & Stratton from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. 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 stock has an average rating of “Hold” and an average price target of $28.50.
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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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