Advisors Asset Management Inc. Sells 728 Shares of Brunswick Co. (NYSE:BC)

Advisors Asset Management Inc. lessened its holdings in shares of Brunswick Co. (NYSE:BC) by 28.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,854 shares of the company’s stock after selling 728 shares during the quarter. Advisors Asset Management Inc.’s holdings in Brunswick were worth $155,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Baillie Gifford & Co. boosted its holdings in Brunswick by 88.0% during the 2nd quarter. Baillie Gifford & Co. now owns 2,430,983 shares of the company’s stock valued at $176,903,000 after acquiring an additional 1,137,568 shares during the period. New York State Common Retirement Fund boosted its position in Brunswick by 447.5% in the 3rd quarter. New York State Common Retirement Fund now owns 271,681 shares of the company’s stock valued at $22,772,000 after buying an additional 222,062 shares during the period. Swedbank AB bought a new position in Brunswick in the 1st quarter worth about $19,304,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of Brunswick during the third quarter worth approximately $15,907,000. Finally, Victory Capital Management Inc. raised its stake in shares of Brunswick by 13.5% during the third quarter. Victory Capital Management Inc. now owns 1,414,490 shares of the company’s stock valued at $118,563,000 after acquiring an additional 168,384 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Brunswick Stock Performance

Shares of Brunswick stock opened at $80.51 on Friday. The company has a market capitalization of $5.31 billion, a PE ratio of 20.05 and a beta of 1.51. The company has a 50-day simple moving average of $81.79 and a two-hundred day simple moving average of $78.79. Brunswick Co. has a one year low of $69.05 and a one year high of $99.68. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 1.97.

Brunswick Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.42 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.68 annualized dividend and a dividend yield of 2.09%. Brunswick’s dividend payout ratio (DPR) is presently 41.79%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BC. Benchmark reissued a “buy” rating and issued a $100.00 price objective on shares of Brunswick in a research note on Friday, October 25th. B. Riley lowered Brunswick from a “buy” rating to a “neutral” rating and cut their price target for the company from $95.00 to $88.00 in a research note on Tuesday. Finally, Citigroup lifted their price objective on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, September 27th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.54.

Insider Activity at Brunswick

In other Brunswick news, CEO David M. Foulkes sold 23,829 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $80.22, for a total transaction of $1,911,562.38. Following the sale, the chief executive officer now owns 251,094 shares of the company’s stock, valued at approximately $20,142,760.68. The trade was a 8.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Nancy E. Cooper sold 366 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.19, for a total transaction of $29,349.54. Following the completion of the transaction, the director now directly owns 24,557 shares of the company’s stock, valued at approximately $1,969,225.83. This represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,940 shares of company stock valued at $2,321,176 over the last 90 days. Insiders own 0.81% of the company’s stock.

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.