Levin Capital Strategies L.P. Grows Position in Brunswick Corporation $BC

Levin Capital Strategies L.P. grew its stake in shares of Brunswick Corporation (NYSE:BC) by 6.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 95,117 shares of the company’s stock after purchasing an additional 5,658 shares during the period. Levin Capital Strategies L.P.’s holdings in Brunswick were worth $6,015,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Jones Financial Companies Lllp boosted its holdings in Brunswick by 50.6% during the third quarter. Jones Financial Companies Lllp now owns 494 shares of the company’s stock worth $31,000 after buying an additional 166 shares in the last quarter. Inspire Investing LLC lifted its position in shares of Brunswick by 2.2% during the 3rd quarter. Inspire Investing LLC now owns 8,869 shares of the company’s stock valued at $561,000 after acquiring an additional 188 shares during the period. Arizona State Retirement System boosted its stake in shares of Brunswick by 1.0% during the 3rd quarter. Arizona State Retirement System now owns 19,436 shares of the company’s stock worth $1,229,000 after acquiring an additional 201 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Brunswick by 31.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock worth $53,000 after acquiring an additional 232 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Brunswick by 1.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 23,215 shares of the company’s stock worth $1,282,000 after acquiring an additional 260 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. DA Davidson boosted their target price on Brunswick from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Loop Capital started coverage on shares of Brunswick in a research report on Monday, December 22nd. They issued a “hold” rating and a $74.00 price objective on the stock. Jefferies Financial Group set a $115.00 price objective on shares of Brunswick and gave the company a “buy” rating in a research note on Tuesday, January 6th. Texas Capital cut shares of Brunswick from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Citigroup upped their price target on shares of Brunswick from $100.00 to $101.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $84.00.

Brunswick Price Performance

BC opened at $89.19 on Thursday. Brunswick Corporation has a 1 year low of $41.00 and a 1 year high of $90.25. The company’s 50 day simple moving average is $82.33 and its 200 day simple moving average is $70.81. The stock has a market capitalization of $5.78 billion, a PE ratio of -42.07 and a beta of 1.39. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 1.44.

Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, January 29th. The company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.21 billion. Brunswick had a positive return on equity of 12.22% and a negative net margin of 2.56%.The firm’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share. As a group, sell-side analysts expect that Brunswick Corporation will post 4.19 EPS for the current year.

Brunswick Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, February 23rd will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.0%. This is a positive change from Brunswick’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Monday, February 23rd. Brunswick’s dividend payout ratio is presently -81.13%.

Insider Activity at Brunswick

In related news, CEO David M. Foulkes sold 38,266 shares of Brunswick stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $86.56, for a total transaction of $3,312,304.96. Following the transaction, the chief executive officer owned 271,169 shares in the company, valued at approximately $23,472,388.64. The trade was a 12.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Christopher F. Dekker sold 4,981 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $87.38, for a total transaction of $435,239.78. Following the sale, the vice president directly owned 39,740 shares of the company’s stock, valued at approximately $3,472,481.20. This trade represents a 11.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.81% of the stock is owned by insiders.

Brunswick Profile

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.