Daiwa Securities Group Inc. Increases Stake in Brunswick Co. (NYSE:BC)

Daiwa Securities Group Inc. raised its stake in shares of Brunswick Co. (NYSE:BC) by 7.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 12,660 shares of the company’s stock after purchasing an additional 930 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Brunswick were worth $1,225,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of BC. Birch Hill Investment Advisors LLC bought a new position in Brunswick during the 3rd quarter valued at about $230,000. Copeland Capital Management LLC lifted its stake in Brunswick by 0.4% during the 3rd quarter. Copeland Capital Management LLC now owns 857,047 shares of the company’s stock valued at $67,707,000 after acquiring an additional 3,513 shares during the period. Commonwealth Equity Services LLC lifted its stake in Brunswick by 3.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 16,503 shares of the company’s stock valued at $1,304,000 after acquiring an additional 535 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Brunswick by 5.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,658 shares of the company’s stock worth $289,000 after purchasing an additional 205 shares during the period. Finally, Tectonic Advisors LLC lifted its stake in shares of Brunswick by 10.3% in the 3rd quarter. Tectonic Advisors LLC now owns 13,036 shares of the company’s stock worth $1,030,000 after purchasing an additional 1,222 shares during the period. Institutional investors own 99.34% of the company’s stock.

Brunswick Trading Up 1.7 %

Shares of BC opened at $86.36 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.43 and a quick ratio of 0.59. Brunswick Co. has a 1 year low of $66.47 and a 1 year high of $99.68. The company has a 50 day simple moving average of $89.30 and a two-hundred day simple moving average of $84.79. The firm has a market cap of $5.94 billion, a P/E ratio of 14.51 and a beta of 1.56.

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.21). Brunswick had a net margin of 6.57% and a return on equity of 29.78%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the business earned $1.99 earnings per share. The company’s quarterly revenue was down 14.0% compared to the same quarter last year. On average, equities analysts expect that Brunswick Co. will post 7.5 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were issued a dividend of $0.42 per share. This is a positive change from Brunswick’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Friday, February 23rd. Brunswick’s dividend payout ratio (DPR) is 28.24%.

Analyst Ratings Changes

Several brokerages have recently weighed in on BC. Stifel Nicolaus increased their price objective on shares of Brunswick from $88.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Truist Financial lowered their price objective on shares of Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. BNP Paribas reiterated a “neutral” rating and issued a $82.00 price objective (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Roth Mkm increased their price objective on shares of Brunswick from $85.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, B. Riley raised shares of Brunswick from a “neutral” rating to a “buy” rating and increased their target price for the stock from $100.00 to $108.00 in a report on Tuesday, February 20th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.08.

Insider Buying and Selling at Brunswick

In related news, EVP John G. Buelow sold 2,426 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $87.12, for a total value of $211,353.12. Following the completion of the transaction, the executive vice president now directly owns 14,199 shares of the company’s stock, valued at $1,237,016.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO David M. Foulkes sold 35,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $87.11, for a total value of $3,048,850.00. Following the completion of the transaction, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John G. Buelow sold 2,426 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $87.12, for a total transaction of $211,353.12. Following the completion of the transaction, the executive vice president now directly owns 14,199 shares of the company’s stock, valued at $1,237,016.88. The disclosure for this sale can be found here. Insiders sold a total of 52,696 shares of company stock valued at $4,574,199 in the last three months. 0.81% of the stock is currently owned by corporate insiders.

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.