Briggs & Stratton Co. (NYSE:BGG) Director Frank M. Jaehnert bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The shares were purchased at an average cost of $13.73 per share, with a total value of $68,650.00. Following the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at $205,950. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of NYSE:BGG opened at $15.04 on Friday. Briggs & Stratton Co. has a 12-month low of $13.33 and a 12-month high of $27.34. The company has a market capitalization of $585.37 million, a price-to-earnings ratio of 11.66 and a beta of 0.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.39 and a quick ratio of 0.44.
Briggs & Stratton (NYSE:BGG) last announced its quarterly earnings results on Thursday, October 25th. The industrial products company reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.04). Briggs & Stratton had a negative net margin of 2.04% and a positive return on equity of 8.46%. The company had revenue of $279.00 million during the quarter, compared to analyst estimates of $297.80 million. On average, sell-side analysts anticipate that Briggs & Stratton Co. will post 1.46 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Tuesday, December 18th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Monday, December 17th. Briggs & Stratton’s payout ratio is presently 43.41%.
A number of equities research analysts recently commented on BGG shares. Zacks Investment Research downgraded Briggs & Stratton from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. ValuEngine downgraded Briggs & Stratton from a “sell” rating to a “strong sell” rating in a report on Saturday, October 27th. Northcoast Research set a $25.00 price target on Briggs & Stratton and gave the company a “buy” rating in a report on Friday, September 28th. Finally, Sidoti downgraded Briggs & Stratton from a “buy” rating to a “neutral” rating and set a $17.00 price target for the company. in a report on Thursday, July 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $20.75.
Large investors have recently made changes to their positions in the business. Allianz Asset Management GmbH lifted its holdings in Briggs & Stratton by 31.0% in the first quarter. Allianz Asset Management GmbH now owns 69,138 shares of the industrial products company’s stock valued at $1,480,000 after acquiring an additional 16,367 shares during the period. LSV Asset Management increased its position in shares of Briggs & Stratton by 0.5% in the second quarter. LSV Asset Management now owns 2,325,617 shares of the industrial products company’s stock valued at $40,954,000 after buying an additional 10,900 shares in the last quarter. Millennium Management LLC increased its position in shares of Briggs & Stratton by 90.6% in the second quarter. Millennium Management LLC now owns 158,459 shares of the industrial products company’s stock valued at $2,790,000 after buying an additional 75,336 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Briggs & Stratton by 177.6% in the first quarter. Russell Investments Group Ltd. now owns 152,565 shares of the industrial products company’s stock valued at $3,266,000 after buying an additional 97,600 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Briggs & Stratton by 5.1% in the second quarter. Legal & General Group Plc now owns 94,257 shares of the industrial products company’s stock valued at $1,657,000 after buying an additional 4,542 shares in the last quarter. 81.92% of the stock is owned by institutional investors.
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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