Schroder Investment Management Group Lowers Holdings in Brunswick Corporation (BC)
Schroder Investment Management Group decreased its holdings in shares of Brunswick Corporation (NYSE:BC) by 35.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,478,595 shares of the company’s stock after selling 815,375 shares during the period. Schroder Investment Management Group owned approximately 1.65% of Brunswick Corporation worth $92,604,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sheaff Brock Investment Advisors LLC grew its stake in shares of Brunswick Corporation by 5.2% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 14,286 shares of the company’s stock worth $896,000 after acquiring an additional 712 shares in the last quarter. LSV Asset Management grew its stake in shares of Brunswick Corporation by 30.4% in the 2nd quarter. LSV Asset Management now owns 311,090 shares of the company’s stock worth $19,514,000 after acquiring an additional 72,600 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in shares of Brunswick Corporation by 1.4% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 15,647 shares of the company’s stock worth $709,000 after acquiring an additional 219 shares in the last quarter. Cannell Peter B & Co. Inc. grew its stake in shares of Brunswick Corporation by 28.9% in the 2nd quarter. Cannell Peter B & Co. Inc. now owns 507,590 shares of the company’s stock worth $31,841,000 after acquiring an additional 113,940 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Brunswick Corporation by 2.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,536 shares of the company’s stock worth $285,000 after acquiring an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 94.04% of the company’s stock.
In other Brunswick Corporation news, insider William Metzger sold 559 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $62.50, for a total value of $34,937.50. Following the sale, the insider now directly owns 115,673 shares of the company’s stock, valued at $7,229,562.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark D. Schwabero sold 2,738 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $63.72, for a total value of $174,465.36. Following the completion of the sale, the chairman now directly owns 219,783 shares in the company, valued at $14,004,572.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,439 shares of company stock worth $3,258,968. 1.00% of the stock is owned by corporate insiders.
Brunswick Corporation (NYSE BC) traded down 1.25% on Thursday, hitting $53.83. 73,582 shares of the company’s stock traded hands. Brunswick Corporation has a 12 month low of $42.02 and a 12 month high of $63.82. The stock has a 50 day moving average price of $55.19 and a 200-day moving average price of $58.30. The stock has a market cap of $4.78 billion, a P/E ratio of 17.08 and a beta of 1.82.
Brunswick Corporation (NYSE:BC) last issued its quarterly earnings data 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 company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company earned $1.17 earnings per share. Brunswick Corporation’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities analysts predict that Brunswick Corporation will post $4.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 22nd will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.21%. The ex-dividend date is Friday, August 18th. Brunswick Corporation’s payout ratio is currently 20.95%.
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BC has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Brunswick Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Thursday, June 29th. BidaskClub upgraded shares of Brunswick Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Royal Bank Of Canada restated a “buy” rating and set a $65.00 price target on shares of Brunswick Corporation in a research report on Sunday, June 11th. B. Riley restated a “buy” rating and set a $70.00 price target on shares of Brunswick Corporation in a research report on Friday, July 28th. Finally, Stifel Nicolaus increased their price target on shares of Brunswick Corporation from $66.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. Brunswick Corporation has a consensus rating of “Buy” and a consensus target price of $65.77.
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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