Brunswick Co. (NYSE:BC) Shares Acquired by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC increased its position in shares of Brunswick Co. (NYSE:BC) by 10.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 758,004 shares of the company’s stock after acquiring an additional 74,061 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Brunswick were worth $49,028,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of BC. Pinebridge Investments L.P. increased its holdings in shares of Brunswick by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 19,006 shares of the company’s stock valued at $1,229,000 after buying an additional 5,686 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Brunswick by 248.4% during the fourth quarter. Hsbc Holdings PLC now owns 10,735 shares of the company’s stock worth $695,000 after purchasing an additional 7,654 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Brunswick by 121.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,295 shares of the company’s stock valued at $213,000 after purchasing an additional 1,809 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of 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 purchasing an additional 2,938 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Brunswick by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,084,038 shares of the company’s stock worth $134,796,000 after purchasing an additional 10,951 shares in the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Brunswick

In other news, Director Nancy E. Cooper sold 433 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $1,664,949.65. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Randall S. Altman sold 3,417 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were 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 owns 26,683 shares in the company, valued at $1,686,632.43. The trade was a 11.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

BC has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price objective on shares of Brunswick from $95.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Truist Financial reduced their price target on shares of Brunswick from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Morgan Stanley lifted their price objective on shares of Brunswick from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Robert W. Baird restated a “neutral” rating and issued a $56.00 target price (down previously from $90.00) on shares of Brunswick in a report on Friday, April 4th. Finally, BMO Capital Markets lowered their price target on Brunswick from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.85.

Brunswick Stock Down 2.2 %

BC opened at $46.82 on Friday. The company has a market capitalization of $3.09 billion, a PE ratio of 24.64 and a beta of 1.42. The business has a 50-day moving average of $53.26 and a 200-day moving average of $66.63. Brunswick Co. has a fifty-two week low of $41.00 and a fifty-two week high of $87.65. 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 posted its earnings results on Thursday, April 24th. The company reported $0.56 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.14 billion. Equities research analysts forecast that Brunswick Co. will post 4.19 EPS for the current fiscal year.

Brunswick Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.67%. This is an increase from Brunswick’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, February 24th. Brunswick’s dividend payout ratio is presently 142.15%.

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.