Briggs & Stratton (BGG) Shares Up 5.2% Following Insider Buying Activity

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Briggs & Stratton Co. (NYSE:BGG) shares shot up 5.2% during trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $14.85 and last traded at $14.53. 693,768 shares were traded during mid-day trading, an increase of 113% from the average session volume of 325,428 shares. The stock had previously closed at $13.81.

Specifically, insider Todd J. Teske sold 87,398 shares of Briggs & Stratton stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 453,723 shares in the company, valued at approximately $9,487,347.93. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frank M. Jaehnert acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, October 30th. The shares were acquired at an average price of $13.73 per share, with a total value of $68,650.00. Following the completion of the purchase, the director now owns 15,000 shares in the company, valued at approximately $205,950. The disclosure for this purchase can be found here. 6.30% of the stock is owned by company insiders.

Several brokerages have commented on BGG. Zacks Investment Research upgraded shares of Briggs & Stratton from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Tuesday. ValuEngine cut shares of Briggs & Stratton from a “sell” rating to a “strong sell” rating in a research note on Saturday. Northcoast Research set a $25.00 price objective on shares of Briggs & Stratton and gave the company a “buy” rating in a research note on Friday, September 28th. Finally, Sidoti cut shares of Briggs & Stratton from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. 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 given a buy rating to the company’s stock. Briggs & Stratton presently has a consensus rating of “Hold” and a consensus price target of $20.75.

The company has a current ratio of 1.39, a quick ratio of 0.44 and a debt-to-equity ratio of 0.39. The firm has a market cap of $619.28 million, a price-to-earnings ratio of 11.26 and a beta of 0.65.

Briggs & Stratton (NYSE:BGG) last posted its earnings results on Thursday, October 25th. The industrial products company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.04). The firm had revenue of $279.00 million for the quarter, compared to analysts’ expectations of $297.80 million. Briggs & Stratton had a negative net margin of 2.04% and a positive return on equity of 8.46%. As a group, analysts predict that Briggs & Stratton Co. will post 1.45 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Tuesday, December 18th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Monday, December 17th. Briggs & Stratton’s dividend payout ratio (DPR) is 43.41%.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Briggs & Stratton by 3.7% during the 2nd quarter. BlackRock Inc. now owns 6,448,589 shares of the industrial products company’s stock valued at $113,561,000 after purchasing an additional 228,281 shares in the last quarter. Brandes Investment Partners LP increased its holdings in shares of Briggs & Stratton by 25.1% during the 2nd quarter. Brandes Investment Partners LP now owns 2,529,341 shares of the industrial products company’s stock valued at $44,541,000 after purchasing an additional 508,224 shares in the last quarter. LSV Asset Management increased its holdings in shares of Briggs & Stratton by 0.5% during the 2nd quarter. LSV Asset Management now owns 2,325,617 shares of the industrial products company’s stock valued at $40,954,000 after purchasing an additional 10,900 shares in the last quarter. Frontier Capital Management Co. LLC increased its holdings in shares of Briggs & Stratton by 7.7% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,093,544 shares of the industrial products company’s stock valued at $21,029,000 after purchasing an additional 78,255 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Briggs & Stratton by 0.4% during 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. 81.92% of the stock is owned by hedge funds and other institutional investors.

About Briggs & Stratton (NYSE:BGG)

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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