Lazard Asset Management LLC Has $12.05 Million Position in Brunswick Corporation $BC

Lazard Asset Management LLC reduced its holdings in Brunswick Corporation (NYSE:BC) by 51.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 165,660 shares of the company’s stock after selling 178,634 shares during the period. Lazard Asset Management LLC’s holdings in Brunswick were worth $12,053,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Massachusetts Financial Services Co. MA increased its position in Brunswick by 2.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,572,892 shares of the company’s stock worth $265,252,000 after acquiring an additional 78,228 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Brunswick by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,931,104 shares of the company’s stock valued at $213,253,000 after purchasing an additional 82,689 shares during the period. Marshall Wace LLP boosted its holdings in Brunswick by 30.6% in the 4th quarter. Marshall Wace LLP now owns 1,921,479 shares of the company’s stock valued at $142,651,000 after purchasing an additional 449,943 shares during the period. Deprince Race & Zollo Inc. grew its position in Brunswick by 0.8% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,866,872 shares of the company’s stock worth $138,597,000 after purchasing an additional 14,822 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in Brunswick by 23.2% in the 2nd quarter. Alliancebernstein L.P. now owns 1,420,922 shares of the company’s stock worth $78,492,000 after purchasing an additional 267,479 shares during the last quarter. 99.34% of the stock is owned by institutional investors.

Brunswick Price Performance

NYSE:BC opened at $80.45 on Thursday. The company has a 50-day moving average of $81.28 and a 200-day moving average of $80.36. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of -38.31 and a beta of 1.33. Brunswick Corporation has a 52 week low of $55.60 and a 52 week high of $90.25. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.62 and a current ratio of 1.38.

Brunswick (NYSE:BC) last posted its earnings results on Thursday, April 30th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.24. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Brunswick had a negative net margin of 2.47% and a positive return on equity of 13.30%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 earnings per share. As a group, equities research analysts anticipate that Brunswick Corporation will post 4.31 earnings per share for the current fiscal year.

Brunswick Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 20th. Brunswick’s payout ratio is presently -83.81%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BC shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brunswick in a research report on Wednesday, June 24th. DA Davidson reissued a “neutral” rating and set a $76.00 target price on shares of Brunswick in a research report on Monday, May 18th. Truist Financial boosted their price target on Brunswick from $93.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Wall Street Zen cut Brunswick from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Finally, JPMorgan Chase & Co. raised their price objective on Brunswick from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brunswick has an average rating of “Hold” and an average price target of $87.07.

Insiders Place Their Bets

In other news, CEO David M. Foulkes sold 25,853 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $83.12, for a total value of $2,148,901.36. Following the sale, the chief executive officer directly owned 267,528 shares in the company, valued at approximately $22,236,927.36. This represents a 8.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.99% of the company’s stock.

Brunswick Company 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.