Westfield Capital Management Co. LP lessened its position in shares of Brunswick Corporation (NYSE:BC) by 8.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 397,035 shares of the company’s stock after selling 37,191 shares during the quarter. Westfield Capital Management Co. LP owned about 0.44% of Brunswick Corporation worth $24,906,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Laurion Capital Management LP purchased a new position in Brunswick Corporation during the 2nd quarter valued at approximately $2,366,000. BlueMountain Capital Management LLC purchased a new position in Brunswick Corporation during the 2nd quarter valued at approximately $387,000. Amalgamated Bank grew its holdings in Brunswick Corporation by 20.1% during the 2nd quarter. Amalgamated Bank now owns 17,417 shares of the company’s stock valued at $1,093,000 after buying an additional 2,918 shares in the last quarter. BlackRock Inc. grew its holdings in Brunswick Corporation by 0.9% during the 2nd quarter. BlackRock Inc. now owns 7,553,692 shares of the company’s stock valued at $473,842,000 after buying an additional 65,605 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Brunswick Corporation by 6.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 390,252 shares of the company’s stock valued at $24,493,000 after buying an additional 23,951 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.
BC has been the subject of several research analyst reports. Royal Bank Of Canada restated a “buy” rating and set a $65.00 price target on shares of Brunswick Corporation in a report on Sunday, June 11th. BidaskClub upgraded Brunswick Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Zacks Investment Research upgraded Brunswick Corporation from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a report on Thursday, June 29th. Northcoast Research cut Brunswick Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 10th. They noted that the move was a valuation call. Finally, BMO Capital Markets restated a “buy” rating and set a $72.00 price target on shares of Brunswick Corporation in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $65.93.
In related news, Chairman Mark D. Schwabero sold 29,552 shares of the stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $63.74, for a total value of $1,883,644.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Metzger sold 15,301 shares of the stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $62.50, for a total value of $956,312.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,880 shares of company stock valued at $3,224,030. Insiders own 1.00% of the company’s stock.
Shares of Brunswick Corporation (NYSE BC) traded up 0.28% during trading on Tuesday, hitting $53.71. The stock had a trading volume of 26,555 shares. Brunswick Corporation has a 52-week low of $42.02 and a 52-week high of $63.82. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 17.04 and a beta of 1.82. The firm’s 50-day moving average is $53.73 and its 200 day moving average is $57.87.
Brunswick Corporation (NYSE:BC) last posted its quarterly earnings results on Thursday, July 27th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.33 by $0.02. Brunswick Corporation had a return on equity of 23.35% and a net margin of 6.13%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the firm earned $1.17 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, analysts expect that Brunswick Corporation will post $4.05 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 22nd were issued a $0.165 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.66 annualized dividend and a dividend yield of 1.23%. Brunswick Corporation’s dividend payout ratio is presently 20.95%.
Brunswick Corporation Company Profile
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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