Gateway Investment Advisers LLC Takes $380,000 Position in Brunswick Co. (NYSE:BC)

Gateway Investment Advisers LLC purchased a new position in Brunswick Co. (NYSE:BC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,225 shares of the company’s stock, valued at approximately $380,000.

Other large investors have also added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in Brunswick in the fourth quarter worth $28,000. Johnson Financial Group Inc. bought a new stake in shares of Brunswick during the 4th quarter valued at $30,000. Rise Advisors LLC grew its position in shares of Brunswick by 249.5% in the 1st quarter. Rise Advisors LLC now owns 325 shares of the company’s stock worth $31,000 after buying an additional 232 shares during the period. SRS Capital Advisors Inc. increased its stake in shares of Brunswick by 347.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 434 shares of the company’s stock worth $42,000 after acquiring an additional 337 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Brunswick by 43,700.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock valued at $42,000 after acquiring an additional 437 shares during the period. Institutional investors own 99.34% of the company’s stock.

Brunswick Stock Performance

BC stock traded down $1.52 during trading on Friday, reaching $74.65. The stock had a trading volume of 503,094 shares, compared to its average volume of 770,131. The firm has a market cap of $5.04 billion, a PE ratio of 13.88 and a beta of 1.52. The company has a current ratio of 1.70, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18. The stock’s 50 day moving average is $75.63 and its two-hundred day moving average is $82.44. Brunswick Co. has a 52 week low of $66.47 and a 52 week high of $99.68.

Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. Brunswick’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter last year, the company earned $2.35 EPS. As a group, equities analysts anticipate that Brunswick Co. will post 5.59 earnings per share for the current year.

Brunswick Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.68 annualized dividend and a dividend yield of 2.25%. Brunswick’s dividend payout ratio (DPR) is 31.23%.

Insider Buying and Selling

In other news, Director Nancy E. Cooper sold 358 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.34, for a total value of $29,119.72. Following the transaction, the director now owns 23,877 shares of the company’s stock, valued at $1,942,155.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.81% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BC shares. BNP Paribas reaffirmed a “neutral” rating and set a $82.00 target price (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Roth Mkm reaffirmed a “buy” rating and set a $94.00 price objective on shares of Brunswick in a research report on Thursday, July 25th. Robert W. Baird dropped their target price on Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Truist Financial reduced their price target on Brunswick from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, July 8th. Finally, B. Riley reduced their price objective on shares of Brunswick from $108.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.21.

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.