Brunswick (NYSE:BC) Sets New 52-Week Low – Here’s What Happened

Brunswick Co. (NYSE:BC) shares hit a new 52-week low on Wednesday . The company traded as low as $68.23 and last traded at $68.55, with a volume of 619884 shares trading hands. The stock had previously closed at $71.42.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Benchmark reiterated a “buy” rating and set a $100.00 price target on shares of Brunswick in a research report on Friday, October 25th. B. Riley lowered Brunswick from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $95.00 to $88.00 in a research report on Tuesday, November 26th. Finally, Citigroup lifted their price target on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.54.

Brunswick Trading Down 0.1 %

The stock has a 50 day simple moving average of $79.76 and a 200-day simple moving average of $78.21. The company has a current ratio of 1.97, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $4.40 billion, a P/E ratio of 16.60 and a beta of 1.50.

Brunswick Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 20th were given a $0.42 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.52%. Brunswick’s payout ratio is currently 41.79%.

Insiders Place Their Bets

In related news, Director Nancy E. Cooper sold 366 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.19, for a total value of $29,349.54. Following the completion of the sale, the director now directly owns 24,557 shares in the company, valued at $1,969,225.83. This trade represents a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David M. Foulkes sold 23,829 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $80.22, for a total value of $1,911,562.38. Following the transaction, the chief executive officer now owns 251,094 shares in the company, valued at $20,142,760.68. This represents a 8.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,940 shares of company stock worth $2,321,176. Corporate insiders own 0.81% of the company’s stock.

Institutional Trading of Brunswick

A number of hedge funds have recently bought and sold shares of BC. V Square Quantitative Management LLC purchased a new stake in Brunswick in the 3rd quarter valued at $26,000. Avior Wealth Management LLC raised its stake in Brunswick by 1,073.7% during the third quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock worth $56,000 after purchasing an additional 612 shares during the period. Covestor Ltd boosted its holdings in Brunswick by 669.0% in the 3rd quarter. Covestor Ltd now owns 969 shares of the company’s stock valued at $81,000 after purchasing an additional 843 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Brunswick by 92.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,155 shares of the company’s stock valued at $97,000 after buying an additional 555 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of Brunswick by 47.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,511 shares of the company’s stock worth $110,000 after buying an additional 483 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

About Brunswick

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.