Northwestern Mutual Wealth Management Co. reduced its holdings in Brunswick Co. (NYSE:BC – Get Rating) by 39.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 469 shares of the company’s stock after selling 306 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Brunswick were worth $38,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in shares of Brunswick by 2.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 94,158 shares of the company’s stock valued at $9,485,000 after purchasing an additional 2,692 shares during the period. ProShare Advisors LLC increased its holdings in shares of Brunswick by 27.9% in the 4th quarter. ProShare Advisors LLC now owns 7,256 shares of the company’s stock valued at $731,000 after acquiring an additional 1,585 shares during the period. Bank of America Corp DE increased its holdings in shares of Brunswick by 5.6% in the 4th quarter. Bank of America Corp DE now owns 144,811 shares of the company’s stock valued at $14,586,000 after acquiring an additional 7,725 shares during the period. Brinker Capital Investments LLC increased its stake in Brunswick by 7.7% in the 4th quarter. Brinker Capital Investments LLC now owns 8,281 shares of the company’s stock valued at $834,000 after buying an additional 592 shares during the period. Finally, Natixis Advisors L.P. grew its stake in shares of Brunswick by 22.4% during the 4th quarter. Natixis Advisors L.P. now owns 37,186 shares of the company’s stock worth $3,746,000 after purchasing an additional 6,809 shares during the period. 92.75% of the stock is currently owned by institutional investors and hedge funds.
Brunswick Trading Down 5.1 %
NYSE BC opened at $77.93 on Monday. The stock has a 50-day simple moving average of $74.85 and a 200 day simple moving average of $78.86. The company has a market capitalization of $5.80 billion, a PE ratio of 9.78 and a beta of 1.62. The company has a current ratio of 1.99, a quick ratio of 0.97 and a debt-to-equity ratio of 1.25. Brunswick Co. has a 12 month low of $61.89 and a 12 month high of $103.93.
Brunswick (NYSE:BC – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.12. Brunswick had a return on equity of 35.33% and a net margin of 9.64%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the company earned $2.52 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. Research analysts forecast that Brunswick Co. will post 10.26 EPS for the current year.
Brunswick Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 24th will be given a dividend of $0.365 per share. The ex-dividend date is Tuesday, August 23rd. This represents a $1.46 annualized dividend and a dividend yield of 1.87%. Brunswick’s dividend payout ratio is currently 18.32%.
Analyst Ratings Changes
Several equities research analysts recently commented on the stock. Northcoast Research reiterated a “neutral” rating on shares of Brunswick in a research report on Tuesday, May 17th. Jefferies Financial Group downgraded shares of Brunswick from a “buy” rating to a “hold” rating and upped their price objective for the company from $90.00 to $110.00 in a research note on Wednesday, August 10th. MKM Partners started coverage on shares of Brunswick in a research report on Wednesday, July 13th. They set a “buy” rating and a $96.00 target price for the company. StockNews.com raised shares of Brunswick from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Finally, KeyCorp increased their price objective on shares of Brunswick from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, August 1st. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $108.08.
Brunswick Corporation designs, manufactures, and markets recreation products worldwide. It operates through Propulsion; Parts & Accessories; and Boat segments. The Propulsion segment provides outboard, sterndrive, and inboard engines for independent boat builders and governments through marine dealers and distributors, specialty marine retailers, and marine service centers; and propulsion-related controls, rigging, and propellers to original equipment manufacturers and aftermarket retailers, distributors, and distribution businesses.
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