UBS Asset Management Americas Inc. lifted its position in shares of Briggs & Stratton Co. (NYSE:BGG) by 10.8% in the second quarter, Holdings Channel reports. The institutional investor owned 40,103 shares of the industrial products company’s stock after acquiring an additional 3,894 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Briggs & Stratton were worth $411,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Morgan Stanley boosted its position in shares of Briggs & Stratton by 408.6% during the 2nd quarter. Morgan Stanley now owns 554,986 shares of the industrial products company’s stock worth $5,683,000 after purchasing an additional 445,861 shares during the period. Vanguard Group Inc. boosted its position in shares of Briggs & Stratton by 8.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,396,640 shares of the industrial products company’s stock worth $45,021,000 after purchasing an additional 352,274 shares during the period. Silvercrest Asset Management Group LLC boosted its position in shares of Briggs & Stratton by 1,479.6% during the 2nd quarter. Silvercrest Asset Management Group LLC now owns 173,754 shares of the industrial products company’s stock worth $7,582,000 after purchasing an additional 162,754 shares during the period. BlackRock Inc. boosted its position in shares of Briggs & Stratton by 1.3% during the 2nd quarter. BlackRock Inc. now owns 6,527,781 shares of the industrial products company’s stock worth $66,844,000 after purchasing an additional 85,670 shares during the period. Finally, Menta Capital LLC purchased a new position in shares of Briggs & Stratton during the 2nd quarter worth approximately $783,000. Institutional investors and hedge funds own 90.50% of the company’s stock.

A number of research firms recently weighed in on BGG. Zacks Investment Research cut shares of Briggs & Stratton from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 20th. TheStreet cut shares of Briggs & Stratton from a “c-” rating to a “d” rating in a research report on Thursday, August 15th. Finally, ValuEngine raised shares of Briggs & Stratton from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $15.00.

In other Briggs & Stratton news, Director Frank M. Jaehnert purchased 40,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was bought at an average price of $4.39 per share, with a total value of $175,600.00. Following the transaction, the director now directly owns 70,479 shares of the company’s stock, valued at approximately $309,402.81. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jeffrey Michael Zeiler acquired 43,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $4.25 per share, with a total value of $182,750.00. Following the completion of the transaction, the vice president now owns 87,581 shares in the company, valued at approximately $372,219.25. The disclosure for this purchase can be found here. Insiders acquired a total of 109,112 shares of company stock valued at $500,707 in the last three months. 7.60% of the stock is currently owned by corporate insiders.

BGG stock traded up $0.13 during midday trading on Friday, hitting $6.16. The company’s stock had a trading volume of 435,598 shares, compared to its average volume of 648,344. The company has a quick ratio of 0.45, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. Briggs & Stratton Co. has a 52-week low of $3.96 and a 52-week high of $17.18. The firm has a market capitalization of $253.38 million, a P/E ratio of -19.25 and a beta of 1.26. The firm has a 50-day simple moving average of $5.66 and a 200-day simple moving average of $8.98.

Briggs & Stratton (NYSE:BGG) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported ($0.36) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.82). Briggs & Stratton had a negative net margin of 2.95% and a negative return on equity of 2.61%. The business had revenue of $471.95 million during the quarter, compared to analysts’ expectations of $519.87 million. During the same period in the prior year, the business earned $0.47 EPS. The business’s quarterly revenue was down 5.9% on a year-over-year basis. On average, sell-side analysts expect that Briggs & Stratton Co. will post 0.2 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 18th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.20 annualized dividend and a yield of 3.25%. Briggs & Stratton’s dividend payout ratio is presently -62.50%.

About Briggs & Stratton

Briggs & Stratton Corporation designs, manufactures, markets, sells, and services gasoline engines for outdoor power equipment to the original equipment manufacturers in the United States. It operates in two segments, Engines and Products. The Engines segment offers four-cycle aluminum alloy gasoline engines that are used primarily by the lawn and garden equipment industry.

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

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