BlackRock Inc. grew its holdings in Briggs & Stratton Corporation (NYSE:BGG) by 15.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,559,290 shares of the industrial products company’s stock after buying an additional 892,989 shares during the quarter. BlackRock Inc. owned approximately 15.33% of Briggs & Stratton Corporation worth $158,080,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BGG. Public Employees Retirement System of Ohio increased its stake in shares of 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 valued at $156,000 after buying an additional 263 shares in the last quarter. Fiduciary Trust Co. acquired a new stake in shares of Briggs & Stratton Corporation in the second quarter valued at $181,000. SG Americas Securities LLC increased its stake in shares of 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 valued at $197,000 after buying an additional 895 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Briggs & Stratton Corporation by 76.9% in the second quarter. State of Alaska Department of Revenue now owns 8,403 shares of the industrial products company’s stock valued at $202,000 after buying an additional 3,653 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of 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 valued at $220,000 after buying an additional 180 shares in the last quarter. Institutional investors own 82.88% of the company’s stock.

A number of analysts have recently weighed in on the company. ValuEngine lowered Briggs & Stratton Corporation from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Zacks Investment Research lowered Briggs & Stratton Corporation from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 29th. Finally, BidaskClub upgraded Briggs & Stratton Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $25.50.

Briggs & Stratton Corporation (NYSE:BGG) last issued its earnings results on Wednesday, August 16th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.06). Briggs & Stratton Corporation had a return on equity of 11.24% and a net margin of 3.17%. The firm had revenue of $474.00 million during the quarter, compared to analyst estimates of $537.82 million. During the same period in the previous year, the company earned $0.46 EPS. Briggs & Stratton Corporation’s revenue for the quarter was down 5.6% on a year-over-year basis.

The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.56 dividend on an annualized basis and a yield of 2.31%. Briggs & Stratton Corporation’s payout ratio is presently 43.08%.

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

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Briggs & Stratton Corporation 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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