Texas Permanent School Fund trimmed its holdings in shares of Brunswick Co. (NYSE:BC) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,566 shares of the company’s stock after selling 1,692 shares during the period. Texas Permanent School Fund owned approximately 0.06% of Brunswick worth $3,657,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of BC. Cornerstone Wealth Management LLC acquired a new position in shares of Brunswick during the 2nd quarter valued at about $158,000. Meeder Asset Management Inc. boosted its stake in Brunswick by 1,186.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,572 shares of the company’s stock valued at $166,000 after purchasing an additional 2,372 shares during the period. CIBC Asset Management Inc bought a new stake in Brunswick during the 2nd quarter valued at approximately $200,000. GAM Holding AG bought a new stake in Brunswick during the 2nd quarter valued at approximately $203,000. Finally, Oliver Luxxe Assets LLC bought a new stake in Brunswick during the 3rd quarter valued at approximately $215,000. 95.70% of the stock is currently owned by hedge funds and other institutional investors.
BC has been the subject of a number of research reports. Zacks Investment Research downgraded Brunswick from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. ValuEngine upgraded Brunswick from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Jefferies Financial Group restated a “hold” rating and set a $60.00 target price on shares of Brunswick in a research report on Friday, July 27th. Imperial Capital restated an “outperform” rating and set a $70.00 target price (down previously from $90.00) on shares of Brunswick in a research report on Friday, October 26th. Finally, TheStreet downgraded Brunswick from a “b” rating to a “c+” rating in a research report on Thursday, October 25th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $72.77.
Brunswick (NYSE:BC) last posted its earnings results on Thursday, October 25th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.19 by $0.09. Brunswick had a return on equity of 26.19% and a net margin of 2.12%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.26 billion. On average, analysts anticipate that Brunswick Co. will post 4.69 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, November 20th will be paid a $0.21 dividend. This is a boost from Brunswick’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Monday, November 19th. Brunswick’s payout ratio is 19.54%.
In other Brunswick news, insider John C. Pfeifer sold 5,446 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $66.95, for a total transaction of $364,609.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.
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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