Engineers Gate Manager LP Makes New $396,000 Investment in Brunswick Co. (NYSE:BC)

Engineers Gate Manager LP acquired a new position in shares of Brunswick Co. (NYSE:BC – Get Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,045 shares of the company’s stock, valued at approximately $396,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its stake in shares of Brunswick by 492.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 444 shares of the company’s stock valued at $29,000 after purchasing an additional 369 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Brunswick by 36.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 639 shares of the company’s stock valued at $42,000 after purchasing an additional 170 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of Brunswick in the 2nd quarter valued at about $46,000. Wipfli Financial Advisors LLC bought a new position in shares of Brunswick in the 3rd quarter valued at about $50,000. Finally, Covestor Ltd boosted its stake in shares of Brunswick by 200.3% in the 1st quarter. Covestor Ltd now owns 961 shares of the company’s stock valued at $78,000 after purchasing an additional 641 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on BC shares. BMO Capital Markets increased their price target on shares of Brunswick from $110.00 to $122.00 in a research report on Friday, February 3rd. Jefferies Financial Group reiterated a “buy” rating and issued a $100.00 price target on shares of Brunswick in a research report on Friday, December 9th. Roth Capital reiterated a “buy” rating on shares of Brunswick in a research report on Thursday, February 2nd. Robert W. Baird increased their price target on shares of Brunswick from $100.00 to $110.00 in a research report on Friday, February 3rd. Finally, MKM Partners increased their price target on shares of Brunswick from $91.00 to $105.00 in a research report on Friday, February 3rd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.23.

Insider Activity at Brunswick

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

Brunswick Price Performance

NYSE BC opened at $80.81 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.81 and a debt-to-equity ratio of 1.18. Brunswick Co. has a 12-month low of $61.89 and a 12-month high of $94.60. The company has a market capitalization of $5.75 billion, a PE ratio of 8.99 and a beta of 1.53. The firm’s 50 day moving average is $83.61 and its 200-day moving average is $75.77.

Brunswick (NYSE:BC – Get Rating) last released its earnings results on Thursday, February 2nd. The company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.02. Brunswick had a net margin of 9.94% and a return on equity of 37.56%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the business earned $1.44 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. Equities 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 announced a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Monday, February 27th will be paid a $0.40 dividend. The ex-dividend date is Friday, February 24th. This is a boost from Brunswick’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 1.98%. Brunswick’s dividend payout ratio (DPR) is currently 17.80%.

Brunswick Company 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.