AlphaCrest Capital Management LLC Invests $367,000 in Brunswick Co. (NYSE:BC)

AlphaCrest Capital Management LLC acquired a new position in shares of Brunswick Co. (NYSE:BC – Get Rating) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,608 shares of the company’s stock, valued at approximately $367,000.

A number of other hedge funds have also modified their holdings of the business. Great West Life Assurance Co. Can grew its stake in Brunswick by 8.4% in the 3rd quarter. Great West Life Assurance Co. Can now owns 54,262 shares of the company’s stock worth $3,553,000 after acquiring an additional 4,207 shares during the period. MML Investors Services LLC grew its stake in Brunswick by 23.5% in the 3rd quarter. MML Investors Services LLC now owns 3,824 shares of the company’s stock worth $250,000 after acquiring an additional 727 shares during the period. Baird Financial Group Inc. grew its stake in Brunswick by 1.5% in the 2nd quarter. Baird Financial Group Inc. now owns 59,263 shares of the company’s stock worth $3,875,000 after acquiring an additional 861 shares during the period. FORA Capital LLC purchased a new stake in Brunswick in the 2nd quarter worth approximately $325,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Brunswick by 51.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 66,521 shares of the company’s stock valued at $4,354,000 after buying an additional 22,614 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Brunswick Stock Performance

Shares of BC stock opened at $83.28 on Friday. Brunswick Co. has a 12 month low of $61.89 and a 12 month high of $94.60. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.81 and a quick ratio of 0.82. The firm has a market capitalization of $5.93 billion, a P/E ratio of 9.26 and a beta of 1.53. The company’s fifty day moving average price is $83.61 and its two-hundred day moving average price is $75.80.

Brunswick (NYSE:BC – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.02. Brunswick had a net margin of 9.94% and a return on equity of 37.56%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the business posted $1.44 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. On average, research analysts anticipate that Brunswick Co. will post 10.36 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Monday, February 27th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 24th. This represents a $1.60 dividend on an annualized basis and a yield of 1.92%. This is a positive change from Brunswick’s previous quarterly dividend of $0.37. Brunswick’s payout ratio is currently 17.80%.

Insiders Place Their Bets

In other news, CFO Ryan M. Gwillim sold 5,710 shares of the company’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $88.28, for a total value of $504,078.80. Following the sale, the chief financial officer now owns 28,522 shares in the company, valued at approximately $2,517,922.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Christopher F. Dekker sold 7,353 shares of the company’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $88.29, for a total value of $649,196.37. Following the sale, the vice president now owns 41,455 shares in the company, valued at approximately $3,660,061.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Ryan M. Gwillim sold 5,710 shares of the company’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $88.28, for a total transaction of $504,078.80. Following the completion of the sale, the chief financial officer now owns 28,522 shares in the company, valued at approximately $2,517,922.16. The disclosure for this sale can be found here. Insiders have sold 13,234 shares of company stock worth $1,167,542 in the last quarter. 0.58% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BC shares. BMO Capital Markets boosted their price objective on shares of Brunswick from $110.00 to $122.00 in a research note on Friday, February 3rd. Citigroup boosted their price objective on shares of Brunswick from $104.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Roth Capital reissued a “buy” rating on shares of Brunswick in a research note on Thursday, February 2nd. Robert W. Baird boosted their price objective on shares of Brunswick from $100.00 to $110.00 in a research note on Friday, February 3rd. Finally, B. Riley boosted their price objective on shares of Brunswick from $88.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.23.

Brunswick Profile

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Brunswick Corp. engages in the design, manufacture, and marketing of recreational marine products, including marine engines, boats, and parts and accessories for those products. It operates through the following segments: Propulsion, Parts and Accessories, Boat, and Corporate/Other. The Propulsion segment manufactures a full range of outboard, sterndrive, and inboard engines, as well as propulsion-related controls, propellers, and rigging parts and accessories.