Zacks Investment Research cut shares of Briggs & Stratton Corporation (NYSE:BGG) from a hold rating to a strong sell rating in a report issued on Tuesday.

According to Zacks, “Briggs & Stratton Corp. is one of the world’s largest producers of air cooled gasoline engines for outdoor power equipment. The company designs, manufactures, markets and services these products for original equipment manufacturers worldwide. These engines are primarily aluminum alloy gasoline engines. “

Separately, BidaskClub cut Briggs & Stratton Corporation from a hold rating to a sell rating in a research note on Thursday, July 27th.

Shares of Briggs & Stratton Corporation (NYSE:BGG) opened at 20.94 on Tuesday. Briggs & Stratton Corporation has a 12-month low of $17.90 and a 12-month high of $25.92. The company’s 50 day moving average is $22.74 and its 200 day moving average is $22.98. The firm has a market capitalization of $880.78 million, a PE ratio of 15.98 and a beta of 0.69.

Briggs & Stratton Corporation (NYSE:BGG) last announced its quarterly earnings results on Wednesday, August 16th. The industrial products company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by $0.06. The company had revenue of $474 million during the quarter, compared to the consensus estimate of $537.82 million. Briggs & Stratton Corporation had a net margin of 3.17% and a return on equity of 11.24%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. On average, analysts forecast that Briggs & Stratton Corporation will post $1.37 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.56 dividend on an annualized basis and a yield of 2.67%. Briggs & Stratton Corporation’s payout ratio is 43.08%.

In related news, SVP William H. Reitman sold 7,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $20.69, for a total transaction of $144,830.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Todd J. Teske sold 5,830 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $20.68, for a total value of $120,564.40. Following the sale, the insider now directly owns 379,417 shares of the company’s stock, valued at $7,846,343.56. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of BGG. State of Alaska Department of Revenue boosted its stake in 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 during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Briggs & Stratton Corporation by 3.9% in the first quarter. Public Employees Retirement System of Ohio now owns 6,937 shares of the industrial products company’s stock worth $156,000 after buying an additional 263 shares during the last quarter. Fiduciary Trust Co. acquired a new stake in Briggs & Stratton Corporation during the second quarter worth about $181,000. SG Americas Securities LLC boosted its stake in Briggs & Stratton Corporation by 12.3% in the second quarter. SG Americas Securities LLC now owns 8,157 shares of the industrial products company’s stock worth $197,000 after buying an additional 895 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its stake in Briggs & Stratton Corporation by 1.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 9,780 shares of the industrial products company’s stock worth $220,000 after buying an additional 180 shares during the last quarter. 84.15% of the stock is owned by institutional investors and hedge funds.

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.

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