Frontier Capital Management Co. LLC raised its position in Briggs & Stratton Co. (NYSE:BGG) by 7.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,093,544 shares of the industrial products company’s stock after buying an additional 78,255 shares during the period. Frontier Capital Management Co. LLC owned approximately 2.58% of Briggs & Stratton worth $21,029,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of BGG. Northern Trust Corp raised its stake in shares of Briggs & Stratton by 0.4% in the 2nd quarter. Northern Trust Corp now owns 902,584 shares of the industrial products company’s stock valued at $15,894,000 after purchasing an additional 3,686 shares in the last quarter. Aperio Group LLC raised its stake in shares of Briggs & Stratton by 32.3% in the 2nd quarter. Aperio Group LLC now owns 17,550 shares of the industrial products company’s stock valued at $309,000 after purchasing an additional 4,286 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Briggs & Stratton by 5.1% in the 2nd quarter. Legal & General Group Plc now owns 94,257 shares of the industrial products company’s stock valued at $1,657,000 after purchasing an additional 4,542 shares in the last quarter. Foundry Partners LLC raised its stake in shares of Briggs & Stratton by 2.3% in the 3rd quarter. Foundry Partners LLC now owns 238,552 shares of the industrial products company’s stock valued at $4,587,000 after purchasing an additional 5,462 shares in the last quarter. Finally, Pinebridge Investments L.P. raised its stake in shares of Briggs & Stratton by 6.6% in the 2nd quarter. Pinebridge Investments L.P. now owns 95,904 shares of the industrial products company’s stock valued at $1,689,000 after purchasing an additional 5,899 shares in the last quarter. 81.92% of the stock is owned by institutional investors.
A number of equities research analysts have recently issued reports on BGG shares. ValuEngine lowered shares of Briggs & Stratton from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 27th. Zacks Investment Research lowered shares of Briggs & Stratton from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. Northcoast Research set a $25.00 target price on shares of Briggs & Stratton and gave the company a “buy” rating in a research note on Friday, September 28th. Finally, Sidoti lowered shares of Briggs & Stratton from a “buy” rating to a “neutral” rating and set a $17.00 target price on the stock. in a research note on Thursday, July 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $20.75.
In related news, insider Todd J. Teske sold 87,398 shares of the stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $20.91, for a total transaction of $1,827,492.18. Following the sale, the insider now owns 453,723 shares in the company, valued at $9,487,347.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank M. Jaehnert acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The shares were acquired at an average price of $13.73 per share, for a total transaction of $68,650.00. Following the purchase, the director now owns 15,000 shares of the company’s stock, valued at $205,950. The disclosure for this purchase can be found here. 6.30% of the stock is owned by corporate insiders.
Shares of Briggs & Stratton stock opened at $15.34 on Friday. The stock has a market capitalization of $615.89 million, a PE ratio of 13.84 and a beta of 1.05. The company has a current ratio of 1.39, a quick ratio of 0.44 and a debt-to-equity ratio of 0.39. Briggs & Stratton Co. has a 1 year low of $13.33 and a 1 year high of $27.34.
Briggs & Stratton (NYSE:BGG) last issued its earnings results on Thursday, October 25th. The industrial products company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.04). The company had revenue of $279.00 million during the quarter, compared to analyst estimates of $297.80 million. Briggs & Stratton had a negative net margin of 2.04% and a positive return on equity of 8.46%. Sell-side analysts forecast that Briggs & Stratton Co. will post 1.46 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Tuesday, December 18th will be paid a dividend of $0.14 per share. The ex-dividend date is Monday, December 17th. This represents a $0.56 annualized dividend and a yield of 3.65%. Briggs & Stratton’s dividend payout ratio (DPR) is 43.41%.
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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