State of Tennessee Department of Treasury Sells 788 Shares of Brunswick Co. (NYSE:BC)

State of Tennessee Department of Treasury lowered its holdings in Brunswick Co. (NYSE:BC) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,943 shares of the company’s stock after selling 788 shares during the period. State of Tennessee Department of Treasury’s holdings in Brunswick were worth $1,807,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BC. Tower Research Capital LLC TRC increased its position in shares of Brunswick by 121.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,295 shares of the company’s stock worth $213,000 after purchasing an additional 1,809 shares during the period. MetLife Investment Management LLC increased its holdings in Brunswick by 8.6% in the 4th quarter. MetLife Investment Management LLC now owns 37,187 shares of the company’s stock valued at $2,405,000 after buying an additional 2,938 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Brunswick by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,084,038 shares of the company’s stock valued at $134,796,000 after buying an additional 10,951 shares in the last quarter. Formula Growth Ltd. bought a new stake in shares of Brunswick during the 4th quarter worth approximately $2,235,000. Finally, Commerce Bank acquired a new stake in shares of Brunswick during the 4th quarter worth approximately $418,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Brunswick Price Performance

Shares of BC opened at $46.36 on Wednesday. The business has a 50-day moving average of $52.54 and a 200-day moving average of $66.04. Brunswick Co. has a 1 year low of $41.00 and a 1 year high of $87.65. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 24.40 and a beta of 1.42. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 0.63.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.31. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company earned $1.35 EPS. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities research analysts anticipate that Brunswick Co. will post 4.19 earnings per share for the current year.

Brunswick Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.71%. This is an increase from Brunswick’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, February 24th. Brunswick’s payout ratio is currently 142.15%.

Insider Activity at Brunswick

In other news, SVP Randall S. Altman sold 3,417 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $63.21, for a total transaction of $215,988.57. Following the transaction, the senior vice president now owns 26,683 shares of the company’s stock, valued at $1,686,632.43. This represents a 11.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nancy E. Cooper sold 433 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $65.65, for a total value of $28,426.45. Following the completion of the sale, the director now directly owns 25,361 shares of the company’s stock, valued at $1,664,949.65. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Jefferies Financial Group cut their target price on Brunswick from $64.00 to $45.00 and set a “hold” rating for the company in a research note on Thursday, April 24th. B. Riley raised Brunswick to a “hold” rating in a research note on Wednesday, February 12th. Benchmark assumed coverage on Brunswick in a research note on Monday. They set a “buy” rating and a $70.00 target price for the company. Roth Mkm reduced their price target on shares of Brunswick from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, Stifel Nicolaus lowered their price objective on shares of Brunswick from $95.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brunswick has an average rating of “Moderate Buy” and a consensus target price of $71.00.

Brunswick Profile

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.