Marshall Wace North America L.P. Purchases Shares of 21,966 Brunswick Corporation (BC)
Marshall Wace North America L.P. purchased a new stake in shares of Brunswick Corporation (NYSE:BC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 21,966 shares of the company’s stock, valued at approximately $1,383,000.
A number of other large investors have also recently bought and sold shares of BC. BlackRock Inc. raised its holdings in Brunswick Corporation by 8,617.9% in the 1st quarter. BlackRock Inc. now owns 7,488,087 shares of the company’s stock worth $458,271,000 after purchasing an additional 7,402,194 shares in the last quarter. TimesSquare Capital Management LLC raised its holdings in Brunswick Corporation by 155.7% in the 1st quarter. TimesSquare Capital Management LLC now owns 1,666,400 shares of the company’s stock worth $101,984,000 after purchasing an additional 1,014,600 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Brunswick Corporation in the 2nd quarter worth $42,936,000. Morgan Stanley raised its holdings in Brunswick Corporation by 97.3% in the 1st quarter. Morgan Stanley now owns 1,236,123 shares of the company’s stock worth $75,651,000 after purchasing an additional 609,752 shares in the last quarter. Finally, Columbia Wanger Asset Management LLC raised its holdings in Brunswick Corporation by 138.0% in the 1st quarter. Columbia Wanger Asset Management LLC now owns 1,039,980 shares of the company’s stock worth $63,647,000 after purchasing an additional 603,092 shares in the last quarter. Institutional investors own 94.04% of the company’s stock.
In related news, insider William Metzger sold 15,301 shares of Brunswick Corporation stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $62.50, for a total value of $956,312.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark D. Schwabero sold 29,552 shares of Brunswick Corporation stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $63.74, for a total value of $1,883,644.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,439 shares of company stock worth $3,258,968. Company insiders own 1.00% of the company’s stock.
Several research analysts have commented on the stock. Jefferies Group LLC restated a “hold” rating and issued a $56.00 price objective on shares of Brunswick Corporation in a report on Friday, July 14th. Stifel Nicolaus upped their price objective on shares of Brunswick Corporation from $66.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, July 14th. BMO Capital Markets restated a “buy” rating and issued a $72.00 price objective on shares of Brunswick Corporation in a report on Thursday, July 13th. Zacks Investment Research upgraded shares of Brunswick Corporation from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Thursday, June 29th. Finally, BidaskClub upgraded shares of Brunswick Corporation from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $65.77.
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Shares of Brunswick Corporation (BC) opened at 54.51 on Thursday. The stock has a market capitalization of $4.84 billion, a P/E ratio of 17.29 and a beta of 1.82. The stock has a 50 day moving average of $55.19 and a 200-day moving average of $58.30. Brunswick Corporation has a 52-week low of $42.02 and a 52-week high of $63.82.
Brunswick Corporation (NYSE:BC) last announced its earnings results on Thursday, July 27th. The company reported $1.35 earnings per share 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 company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the business posted $1.17 EPS. The company’s revenue was up 8.8% on a year-over-year basis. Analysts predict that Brunswick Corporation will post $4.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 22nd will be paid a $0.165 dividend. The ex-dividend date is Friday, August 18th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.21%. Brunswick Corporation’s dividend payout ratio (DPR) is presently 20.95%.
Brunswick Corporation 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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