Arizona State Retirement System decreased its stake in Briggs & Stratton Co. (NYSE:BGG) by 42.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,330 shares of the industrial products company’s stock after selling 21,064 shares during the period. Arizona State Retirement System owned about 0.07% of Briggs & Stratton worth $189,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in Briggs & Stratton by 12.6% during the 2nd quarter. Bank of America Corp DE now owns 127,872 shares of the industrial products company’s stock worth $1,310,000 after acquiring an additional 14,343 shares during the period. Morgan Stanley grew its holdings in 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 acquiring an additional 445,861 shares during the period. UBS Asset Management Americas Inc. grew its holdings in Briggs & Stratton by 10.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 40,103 shares of the industrial products company’s stock worth $411,000 after acquiring an additional 3,894 shares during the period. Nuveen Asset Management LLC acquired a new stake in Briggs & Stratton during the 2nd quarter worth $2,586,000. Finally, Royal Bank of Canada grew its holdings in Briggs & Stratton by 34.5% during the 2nd quarter. Royal Bank of Canada now owns 55,562 shares of the industrial products company’s stock worth $569,000 after acquiring an additional 14,241 shares during the period. 83.91% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on the stock. Zacks Investment Research lowered shares of Briggs & Stratton from a “hold” rating to a “sell” rating in a report on Monday, February 3rd. Northcoast Research reaffirmed a “buy” rating on shares of Briggs & Stratton in a report on Monday, February 3rd.
BGG opened at $3.45 on Friday. The company has a fifty day moving average price of $5.05 and a two-hundred day moving average price of $5.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.53 and a current ratio of 1.63. Briggs & Stratton Co. has a 52 week low of $3.13 and a 52 week high of $14.36. The firm has a market capitalization of $148.67 million, a PE ratio of -2.40 and a beta of 1.29.
Briggs & Stratton (NYSE:BGG) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). Briggs & Stratton had a negative net margin of 3.30% and a negative return on equity of 8.19%. The firm had revenue of $437.90 million during the quarter, compared to analyst estimates of $458.87 million. During the same period last year, the firm earned $0.20 EPS. Briggs & Stratton’s quarterly revenue was down 13.4% on a year-over-year basis. Equities analysts forecast that Briggs & Stratton Co. will post 0.05 EPS for the current year.
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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