By otakuyassine3@gmail.com 
M&T Bank Corp cut its holdings in Brunswick Co. (NYSE:BC – Free Report) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,183 shares of the company’s stock after selling 551 shares during the period. M&T Bank Corp’s holdings in Brunswick were worth $1,241,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in BC. Janney Montgomery Scott LLC lifted its holdings in Brunswick by 7.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 10,110 shares of the company’s stock valued at $847,000 after purchasing an additional 711 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in Brunswick in the 3rd quarter valued at about $219,000. Covestor Ltd lifted 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 in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Brunswick by 2.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 24,190 shares of the company’s stock valued at $2,028,000 after purchasing an additional 551 shares in the last quarter. Finally, Chartwell Investment Partners LLC purchased a new position in Brunswick in the 3rd quarter valued at about $1,684,000. 99.34% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have issued reports on BC. Citigroup reduced their target price on shares of Brunswick from $92.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Truist Financial dropped their price objective on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. DA Davidson dropped their price objective on shares of Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Benchmark dropped their price objective on shares of Brunswick from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Morgan Stanley upped their price objective on shares of Brunswick from $64.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Brunswick has an average rating of “Moderate Buy” and an average target price of $81.62.
Read Our Latest Report on Brunswick
Brunswick Stock Down 0.5 %
BC opened at $58.82 on Tuesday. The firm has a 50 day moving average price of $64.90 and a 200 day moving average price of $74.04. The company has a market cap of $3.87 billion, a PE ratio of 30.96 and a beta of 1.54. Brunswick Co. has a 1 year low of $55.40 and a 1 year high of $96.65. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65.
Brunswick (NYSE:BC – Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. During the same quarter in the prior year, the firm posted $1.45 earnings per share. Sell-side analysts expect that Brunswick Co. will post 4.19 earnings per share for the current year.
Brunswick Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 24th will be given a $0.43 dividend. This is an increase from Brunswick’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, February 24th. This represents a $1.72 annualized dividend and a yield of 2.92%. Brunswick’s dividend payout ratio (DPR) is 90.53%.
Insider Buying and Selling at Brunswick
In other news, SVP Randall S. Altman sold 3,417 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total transaction of $215,988.57. Following the completion of the transaction, the senior vice president now directly owns 26,683 shares in the company, valued at approximately $1,686,632.43. This represents a 11.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Nancy E. Cooper sold 433 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $65.65, for a total transaction of $28,426.45. Following 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 position. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.
Brunswick Company 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.
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