Prudential Financial Inc. lowered its stake in shares of Briggs & Stratton Corporation (NYSE:BGG) by 42.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,407 shares of the industrial products company’s stock after selling 55,650 shares during the quarter. Prudential Financial Inc. owned about 0.18% of Briggs & Stratton Corporation worth $1,841,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BGG. BlackRock Inc. boosted its position in Briggs & Stratton Corporation by 26,045.7% during the first quarter. BlackRock Inc. now owns 5,666,301 shares of the industrial products company’s stock worth $127,209,000 after purchasing an additional 5,644,629 shares during the period. Bank of America Corp DE boosted its position in Briggs & Stratton Corporation by 79.6% during the first quarter. Bank of America Corp DE now owns 368,281 shares of the industrial products company’s stock worth $8,268,000 after purchasing an additional 163,210 shares during the period. JPMorgan Chase & Co. boosted its position in Briggs & Stratton Corporation by 13.8% during the first quarter. JPMorgan Chase & Co. now owns 1,017,069 shares of the industrial products company’s stock worth $22,833,000 after purchasing an additional 123,093 shares during the period. Algert Global LLC bought a new stake in Briggs & Stratton Corporation during the second quarter worth approximately $1,887,000. Finally, State Street Corp boosted its position in Briggs & Stratton Corporation by 7.1% during the first quarter. State Street Corp now owns 1,136,411 shares of the industrial products company’s stock worth $25,516,000 after purchasing an additional 75,331 shares during the period. 82.88% of the stock is owned by hedge funds and other institutional investors.

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A number of brokerages have issued reports on BGG. ValuEngine raised Briggs & Stratton Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Zacks Investment Research cut Briggs & Stratton Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, BidaskClub cut Briggs & Stratton Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $25.50.

Shares of Briggs & Stratton Corporation (NYSE:BGG) opened at 23.50 on Friday. The company has a market cap of $1.00 billion, a PE ratio of 17.94 and a beta of 0.72. The firm’s 50-day moving average price is $21.95 and its 200-day moving average price is $22.99. Briggs & Stratton Corporation has a 12 month low of $17.90 and a 12 month high of $25.92.

Briggs & Stratton Corporation (NYSE:BGG) last posted its quarterly earnings results on Wednesday, August 16th. The industrial products company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.06). The company had revenue of $474.00 million for the quarter, compared to analyst estimates of $537.82 million. Briggs & Stratton Corporation had a return on equity of 11.24% and a net margin of 3.17%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.46 EPS. Equities analysts predict that Briggs & Stratton Corporation will post $1.38 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, September 14th. Briggs & Stratton Corporation’s dividend payout ratio (DPR) is 43.08%.

In other Briggs & Stratton Corporation news, insider Todd J. Teske sold 5,830 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $20.68, for a total transaction of $120,564.40. Following the transaction, the insider now owns 379,417 shares of the company’s stock, valued at approximately $7,846,343.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William H. Reitman sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $20.69, for a total value of $144,830.00. The disclosure for this sale can be found here. 4.20% of the stock is owned by insiders.

Briggs & Stratton Corporation Company Profile

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

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