Convergence Investment Partners LLC raised its holdings in shares of Brunswick Co. (NYSE:BC) by 16.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,152 shares of the company’s stock after buying an additional 3,472 shares during the period. Convergence Investment Partners LLC’s holdings in Brunswick were worth $1,352,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. purchased a new stake in shares of Brunswick in the second quarter valued at $134,000. Bronfman E.L. Rothschild L.P. increased its stake in Brunswick by 149.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,550 shares of the company’s stock worth $160,000 after buying an additional 1,529 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Brunswick by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,217 shares of the company’s stock worth $202,000 after buying an additional 280 shares during the period. Advisor Group Inc. increased its stake in Brunswick by 2.7% in the 2nd quarter. Advisor Group Inc. now owns 3,306 shares of the company’s stock worth $202,000 after buying an additional 87 shares during the period. Finally, Pitcairn Co. purchased a new position in Brunswick in the 2nd quarter worth about $213,000. 92.18% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on BC. ValuEngine downgraded shares of Brunswick from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. B. Riley set a $65.00 price target on shares of Brunswick and gave the company a “buy” rating in a report on Tuesday, October 31st. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 target price on shares of Brunswick in a research note on Thursday, September 7th. Forward View upgraded shares of Brunswick from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Sunday, September 3rd. Finally, Zacks Investment Research cut shares of Brunswick from a “hold” rating to a “sell” rating in a research note on Friday, September 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $63.23.
Brunswick Co. (NYSE BC) traded down $0.36 during midday trading on Friday, reaching $55.22. 511,375 shares of the company’s stock were exchanged, compared to its average volume of 1,130,000. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 0.95. The firm has a market capitalization of $4,840.00, a PE ratio of 17.76, a P/E/G ratio of 0.89 and a beta of 1.90. Brunswick Co. has a 52 week low of $48.04 and a 52 week high of $63.82.
Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.09). Brunswick had a return on equity of 22.71% and a net margin of 5.93%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. equities research analysts anticipate that Brunswick Co. will post 3.85 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Tuesday, November 21st were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.38%. This is a positive change from Brunswick’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, November 20th. Brunswick’s dividend payout ratio is presently 24.44%.
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Brunswick Company Profile
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
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