Louisiana State Employees Retirement System purchased a new stake in shares of Brunswick Corporation (NYSE:BC – Free Report) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 18,900 shares of the company’s stock, valued at approximately $1,375,000.
A number of other large investors have also added to or reduced their stakes in the company. Ritholtz Wealth Management purchased a new stake in shares of Brunswick during the first quarter worth about $914,000. Friedenthal Financial bought a new stake in shares of Brunswick in the first quarter worth about $992,000. SG Americas Securities LLC increased its holdings in Brunswick by 4.8% during the 1st quarter. SG Americas Securities LLC now owns 16,887 shares of the company’s stock valued at $1,229,000 after purchasing an additional 766 shares during the period. Evolve Private Wealth LLC increased its holdings in Brunswick by 6.1% during the 1st quarter. Evolve Private Wealth LLC now owns 4,634 shares of the company’s stock valued at $337,000 after purchasing an additional 265 shares during the period. Finally, Hsbc Holdings PLC raised its position in Brunswick by 32.1% during the 4th quarter. Hsbc Holdings PLC now owns 35,979 shares of the company’s stock valued at $2,677,000 after purchasing an additional 8,733 shares during the last quarter. Institutional investors own 99.34% of the company’s stock.
Brunswick Stock Performance
Brunswick stock opened at $79.17 on Friday. Brunswick Corporation has a fifty-two week low of $55.60 and a fifty-two week high of $90.25. The stock’s 50 day simple moving average is $81.17 and its two-hundred day simple moving average is $80.04. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.62 and a current ratio of 1.38. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of -37.70 and a beta of 1.33.
Brunswick Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, May 18th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.76 annualized dividend and a yield of 2.2%. Brunswick’s dividend payout ratio (DPR) is currently -83.81%.
Analyst Ratings Changes
BC has been the subject of several research analyst reports. DA Davidson reiterated a “neutral” rating and issued a $76.00 price objective on shares of Brunswick in a report on Monday, May 18th. Truist Financial upped their target price on Brunswick from $92.00 to $93.00 and gave the company a “buy” rating in a report on Monday, April 27th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brunswick in a research note on Wednesday, June 24th. Wall Street Zen cut shares of Brunswick from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Texas Capital raised shares of Brunswick from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Brunswick has an average rating of “Hold” and an average target price of $87.00.
Read Our Latest Analysis on Brunswick
Insider Buying and Selling
In other news, CEO David M. Foulkes sold 25,853 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $83.12, for a total transaction of $2,148,901.36. Following the sale, the chief executive officer owned 267,528 shares in the company, valued at approximately $22,236,927.36. The trade was a 8.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.99% of the company’s stock.
Brunswick Profile
Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.
Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.
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