Janney Montgomery Scott LLC boosted its stake in Brunswick Corporation (NYSE:BC) by 73.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,665 shares of the company’s stock after buying an additional 7,477 shares during the period. Janney Montgomery Scott LLC’s holdings in Brunswick Corporation were worth $1,108,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of BC. NGAM Advisors L.P. purchased a new stake in Brunswick Corporation during the second quarter valued at approximately $2,991,000. Sumitomo Life Insurance Co. purchased a new stake in Brunswick Corporation during the second quarter valued at approximately $2,457,000. Bowling Portfolio Management LLC purchased a new stake in Brunswick Corporation during the second quarter valued at approximately $4,157,000. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in Brunswick Corporation during the second quarter valued at approximately $1,267,000. Finally, Meritage Portfolio Management purchased a new stake in Brunswick Corporation during the second quarter valued at approximately $6,404,000. Institutional investors own 99.59% of the company’s stock.
Brunswick Corporation (NYSE:BC) opened at 54.78 on Friday. The company has a 50-day moving average price of $59.90 and a 200-day moving average price of $59.11. The firm has a market capitalization of $4.86 billion, a PE ratio of 17.38 and a beta of 1.81. Brunswick Corporation has a 12-month low of $42.02 and a 12-month high of $63.82.
Brunswick Corporation (NYSE:BC) last released its earnings results on Thursday, July 27th. The company reported $1.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.02. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Brunswick Corporation had a net margin of 6.13% and a return on equity of 23.35%. Brunswick Corporation’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.17 EPS. On average, analysts predict that Brunswick Corporation will post $4.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 22nd will be paid a $0.165 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.66 annualized dividend and a yield of 1.20%. Brunswick Corporation’s payout ratio is currently 20.95%.
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Several research firms have commented on BC. BidaskClub lowered Brunswick Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday. B. Riley restated a “buy” rating and set a $70.00 target price on shares of Brunswick Corporation in a report on Wednesday, August 2nd. Zacks Investment Research upgraded Brunswick Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Forward View set a $60.00 target price on Brunswick Corporation and gave the stock a “hold” rating in a report on Sunday, July 30th. Finally, BMO Capital Markets lowered their target price on Brunswick Corporation from $72.00 to $68.00 and set an “outperform” rating on the stock in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Brunswick Corporation presently has an average rating of “Buy” and an average price target of $65.82.
In other Brunswick Corporation news, Chairman Mark D. Schwabero sold 2,738 shares of Brunswick Corporation stock in a transaction on Friday, July 14th. The shares were sold at an average price of $63.72, for a total value of $174,465.36. Following the transaction, the chairman now owns 219,783 shares in the company, valued at approximately $14,004,572.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider William Metzger sold 15,301 shares of Brunswick Corporation stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $62.50, for a total transaction of $956,312.50. The disclosure for this sale can be found here. Insiders sold a total of 51,439 shares of company stock valued at $3,258,968 over the last ninety days. 1.00% of the stock is owned by corporate insiders.
About Brunswick Corporation
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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