DekaBank Deutsche Girozentrale boosted its stake in Brunswick Co. (NYSE:BC) by 5.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,822 shares of the company’s stock after purchasing an additional 1,050 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Brunswick were worth $1,445,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC purchased a new stake in Brunswick in the second quarter valued at approximately $158,000. Dubuque Bank & Trust Co. grew its stake in Brunswick by 4,476.9% during the third quarter. Dubuque Bank & Trust Co. now owns 2,975 shares of the company’s stock worth $199,000 after buying an additional 2,910 shares during the period. CIBC Asset Management Inc purchased a new stake in Brunswick during the second quarter worth approximately $200,000. GAM Holding AG purchased a new stake in Brunswick during the second quarter worth approximately $203,000. Finally, Oliver Luxxe Assets LLC purchased a new stake in Brunswick during the third quarter worth approximately $215,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.
Several equities research analysts have issued reports on BC shares. Wedbush boosted their price objective on shares of Brunswick from $70.00 to $77.00 and gave the stock an “outperform” rating in a research note on Monday, August 13th. They noted that the move was a valuation call. Citigroup decreased their price objective on shares of Brunswick from $81.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, August 15th. ValuEngine upgraded shares of Brunswick from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Zacks Investment Research downgraded shares of Brunswick from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Finally, Imperial Capital reiterated an “outperform” rating and set a $70.00 price objective (down from $90.00) on shares of Brunswick in a research note on Friday, October 26th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Brunswick presently has a consensus rating of “Buy” and an average price target of $72.00.
BC opened at $51.65 on Thursday. The company has a quick ratio of 0.65, a current ratio of 1.26 and a debt-to-equity ratio of 0.57. Brunswick Co. has a 52-week low of $48.36 and a 52-week high of $69.82. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 0.90 and a beta of 1.82.
Brunswick (NYSE:BC) last announced its earnings results on Thursday, October 25th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.09. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.26 billion. Brunswick had a net margin of 2.12% and a return on equity of 26.19%. On average, research analysts predict that Brunswick Co. will post 4.69 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 20th will be paid a $0.21 dividend. The ex-dividend date is Monday, November 19th. This is an increase from Brunswick’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a dividend yield of 1.63%. Brunswick’s dividend payout ratio is 21.59%.
In other news, Director Manuel A. Fernandez bought 13,235 shares of the firm’s stock in a transaction dated Friday, November 30th. The stock was acquired at an average cost of $53.09 per share, for a total transaction of $702,646.15. Following the completion of the purchase, the director now owns 109,784 shares of the company’s stock, valued at $5,828,432.56. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John C. Pfeifer sold 5,446 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $66.95, for a total transaction of $364,609.70. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.
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Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, service parts, and lubricants; and diesel propulsion systems to the recreational and commercial marine markets.
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