Fifth Third Bancorp Has $58,000 Holdings in Brunswick Corporation (NYSE:BC)

Fifth Third Bancorp boosted its holdings in shares of Brunswick Corporation (NYSE:BC) by 33.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,078 shares of the company’s stock after buying an additional 269 shares during the quarter. Fifth Third Bancorp’s holdings in Brunswick were worth $58,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BC. Quarry LP acquired a new position in shares of Brunswick in the fourth quarter valued at $45,000. UMB Bank n.a. grew its stake in Brunswick by 695.7% in the 1st quarter. UMB Bank n.a. now owns 732 shares of the company’s stock valued at $39,000 after buying an additional 640 shares during the last quarter. GAMMA Investing LLC grew its stake in Brunswick by 59.3% in the 1st quarter. GAMMA Investing LLC now owns 1,276 shares of the company’s stock valued at $69,000 after buying an additional 475 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of Brunswick during the fourth quarter worth approximately $203,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Brunswick by 121.7% in 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. Institutional investors and hedge funds own 99.34% of the company’s stock.

Insider Buying and Selling at Brunswick

In other news, VP Christopher F. Dekker sold 2,092 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $58.47, for a total value of $122,319.24. Following the sale, the vice president now directly owns 44,466 shares in the company, valued at approximately $2,599,927.02. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.81% of the company’s stock.

Brunswick Trading Down 0.3%

Shares of Brunswick stock opened at $55.37 on Friday. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 45.76 and a beta of 1.27. The company has a quick ratio of 0.65, a current ratio of 1.57 and a debt-to-equity ratio of 1.12. Brunswick Corporation has a 12-month low of $41.00 and a 12-month high of $87.65. The firm’s 50-day moving average price is $50.43 and its two-hundred day moving average price is $58.46.

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.31. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.14 billion. Brunswick had a net margin of 1.62% and a return on equity of 12.88%. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.35 earnings per share. On average, analysts forecast that Brunswick Corporation will post 4.19 earnings per share for the current fiscal year.

Brunswick Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, May 19th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Monday, May 19th. Brunswick’s dividend payout ratio is presently 142.15%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BC shares. BMO Capital Markets dropped their price target on Brunswick from $75.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Jefferies Financial Group lowered their price objective on Brunswick from $64.00 to $45.00 and set a “hold” rating on the stock in a research report on Thursday, April 24th. Citigroup reissued a “buy” rating and issued a $68.00 target price (up previously from $61.00) on shares of Brunswick in a research report on Monday, June 16th. Robert W. Baird upped their price target on shares of Brunswick from $56.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Finally, Benchmark began coverage on shares of Brunswick in a research report on Monday, April 28th. They set a “buy” rating and a $70.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

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.