LSV Asset Management Boosts Stake in Brunswick Co. (BC)
LSV Asset Management grew its stake in shares of Brunswick Co. (NYSE:BC) by 1.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 807,440 shares of the company’s stock after buying an additional 12,300 shares during the period. LSV Asset Management’s holdings in Brunswick were worth $54,114,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of BC. Cornerstone Wealth Management LLC purchased a new position in Brunswick in the 2nd quarter worth $158,000. Meeder Asset Management Inc. raised its position in Brunswick by 1,186.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,572 shares of the company’s stock worth $166,000 after purchasing an additional 2,372 shares during the period. Dubuque Bank & Trust Co. raised its position in Brunswick by 4,476.9% in the 3rd quarter. Dubuque Bank & Trust Co. now owns 2,975 shares of the company’s stock worth $199,000 after purchasing an additional 2,910 shares during the period. CIBC Asset Management Inc purchased a new position in Brunswick in the 2nd quarter worth $200,000. Finally, GAM Holding AG purchased a new position in Brunswick in the 2nd quarter worth $203,000. Hedge funds and other institutional investors own 96.28% of the company’s stock.
A number of equities analysts recently commented on the stock. Citigroup decreased their target price on shares of Brunswick from $81.00 to $76.00 and set a “buy” rating on the stock in a research report on Wednesday, August 15th. Imperial Capital reiterated an “outperform” rating and issued a $70.00 target price (down previously from $90.00) on shares of Brunswick in a research report on Friday, October 26th. Zacks Investment Research cut shares of Brunswick from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. KeyCorp lifted their target price on shares of Brunswick from $75.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Finally, ValuEngine upgraded shares of Brunswick from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Brunswick has an average rating of “Buy” and an average price target of $72.00.
Shares of Brunswick stock opened at $53.32 on Friday. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 0.92 and a beta of 1.81. Brunswick Co. has a 12-month low of $48.36 and a 12-month high of $69.82. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.65 and a current ratio of 1.26.
Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, October 25th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.09. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.26 billion. Brunswick had a net margin of 2.12% and a return on equity of 26.19%. Research analysts expect that Brunswick Co. will post 4.69 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 20th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Monday, November 19th. This is a positive change from Brunswick’s previous quarterly dividend of $0.19. Brunswick’s dividend payout ratio (DPR) is 19.54%.
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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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