Hillcrest Asset Management LLC trimmed its stake in Briggs & Stratton Corporation (NYSE:BGG) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 500,984 shares of the industrial products company’s stock after selling 12,370 shares during the period. Briggs & Stratton Corporation accounts for about 2.1% of Hillcrest Asset Management LLC’s investment portfolio, making the stock its 12th biggest holding. Hillcrest Asset Management LLC owned about 1.17% of Briggs & Stratton Corporation worth $11,773,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its position in shares of Briggs & Stratton Corporation by 3.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 6,937 shares of the industrial products company’s stock worth $156,000 after purchasing an additional 263 shares during the period. Fiduciary Trust Co. purchased a new stake in shares of Briggs & Stratton Corporation in the 2nd quarter worth about $181,000. SG Americas Securities LLC lifted its position in shares of Briggs & Stratton Corporation by 12.3% in the 2nd quarter. SG Americas Securities LLC now owns 8,157 shares of the industrial products company’s stock worth $197,000 after purchasing an additional 895 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Briggs & Stratton Corporation by 76.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,403 shares of the industrial products company’s stock worth $202,000 after purchasing an additional 3,653 shares during the period. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of Briggs & Stratton Corporation in the 2nd quarter worth about $223,000. 82.54% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Andrea L. Golvach sold 19,174 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $25.20, for a total value of $483,184.80. Following the completion of the transaction, the vice president now directly owns 27,197 shares in the company, valued at approximately $685,364.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Todd J. Teske sold 5,830 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $20.68, for a total transaction of $120,564.40. Following the completion of the transaction, the insider now owns 379,417 shares of the company’s stock, valued at $7,846,343.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,004 shares of company stock valued at $748,579. 4.20% of the stock is owned by company insiders.

Shares of Briggs & Stratton Corporation (NYSE:BGG) traded down $0.06 during trading on Monday, hitting $24.24. 206,800 shares of the company traded hands, compared to its average volume of 432,083. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.70 and a current ratio of 1.82. The company has a market cap of $1,038.98, a price-to-earnings ratio of 17.69 and a beta of 0.79. Briggs & Stratton Corporation has a 52 week low of $20.00 and a 52 week high of $25.95.

Briggs & Stratton Corporation (NYSE:BGG) last issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported ($0.27) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.08. The company had revenue of $329.10 million during the quarter, compared to analyst estimates of $295.84 million. Briggs & Stratton Corporation had a net margin of 3.05% and a return on equity of 11.38%. Briggs & Stratton Corporation’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the business earned ($0.34) EPS. equities analysts anticipate that Briggs & Stratton Corporation will post 1.49 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Friday, December 15th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.56 annualized dividend and a dividend yield of 2.31%. Briggs & Stratton Corporation’s payout ratio is 43.75%.

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Several equities research analysts have recently commented on BGG shares. BidaskClub cut shares of Briggs & Stratton Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Briggs & Stratton Corporation from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Friday, August 11th. ValuEngine raised shares of Briggs & Stratton Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Finally, Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Briggs & Stratton Corporation in a research report on Tuesday, October 17th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Briggs & Stratton Corporation currently has a consensus rating of “Hold” and a consensus target price of $26.50.

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

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