Municipal Employees Retirement System of Michigan increased its position in Briggs & Stratton Corporation (NYSE:BGG) by 135.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,980 shares of the industrial products company’s stock after buying an additional 13,200 shares during the period. Municipal Employees Retirement System of Michigan owned 0.05% of Briggs & Stratton Corporation worth $554,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Teachers Advisors LLC increased its stake in shares of Briggs & Stratton Corporation by 8.1% in the fourth quarter. Teachers Advisors LLC now owns 81,383 shares of the industrial products company’s stock worth $1,812,000 after buying an additional 6,114 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Briggs & Stratton Corporation by 5.3% in the first quarter. Bank of Montreal Can now owns 18,757 shares of the industrial products company’s stock worth $420,000 after buying an additional 939 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Briggs & Stratton Corporation by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 17,400 shares of the industrial products company’s stock worth $391,000 after buying an additional 200 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Briggs & Stratton Corporation by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 4,750 shares of the industrial products company’s stock worth $106,000 after buying an additional 80 shares in the last quarter. Finally, Hillcrest Asset Management LLC increased its stake in shares of Briggs & Stratton Corporation by 7.9% in the first quarter. Hillcrest Asset Management LLC now owns 513,772 shares of the industrial products company’s stock worth $11,534,000 after buying an additional 37,647 shares in the last quarter. Hedge funds and other institutional investors own 85.24% of the company’s stock.

Shares of Briggs & Stratton Corporation (NYSE BGG) opened at 20.35 on Monday. Briggs & Stratton Corporation has a one year low of $17.90 and a one year high of $25.92. The firm has a 50 day moving average price of $23.60 and a 200-day moving average price of $23.03. The firm has a market cap of $855.96 million, a P/E ratio of 15.53 and a beta of 0.69.

Briggs & Stratton Corporation (NYSE:BGG) last released its quarterly earnings results on Wednesday, August 16th. The industrial products company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.52 by $0.06. The firm had revenue of $474 million during the quarter, compared to the consensus estimate of $537.82 million. Briggs & Stratton Corporation had a return on equity of 11.24% and a net margin of 3.17%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 EPS. Analysts forecast that Briggs & Stratton Corporation will post $1.49 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a $0.14 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.56 annualized dividend and a dividend yield of 2.75%. Briggs & Stratton Corporation’s payout ratio is currently 43.08%.

WARNING: This story was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another site, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/08/21/municipal-employees-retirement-system-of-michigan-buys-13200-shares-of-briggs-stratton-corporation-bgg.html.

A number of equities research analysts have weighed in on BGG shares. BidaskClub downgraded Briggs & Stratton Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research raised Briggs & Stratton Corporation from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Friday, August 11th.

About Briggs & Stratton Corporation

Briggs & Stratton Corporation is a producer of gasoline engines for outdoor power equipment. The Company designs, manufactures, markets, sells and services the various products for original equipment manufacturers (OEMs) around the world. It also markets and sells related service parts and accessories for its engines.

Institutional Ownership by Quarter for Briggs & Stratton Corporation (NYSE:BGG)

Receive News & Stock Ratings for Briggs & Stratton Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Briggs & Stratton Corporation and related stocks with our FREE daily email newsletter.