Teacher Retirement System of Texas Makes New Investment in Brunswick Corporation (NYSE:BC)

Teacher Retirement System of Texas purchased a new stake in Brunswick Corporation (NYSE:BC) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 9,649 shares of the company’s stock, valued at approximately $520,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. UMB Bank n.a. grew its position in shares of Brunswick by 695.7% during the first quarter. UMB Bank n.a. now owns 732 shares of the company’s stock worth $39,000 after buying an additional 640 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Brunswick by 171.6% in the first quarter. First Horizon Advisors Inc. now owns 755 shares of the company’s stock valued at $41,000 after purchasing an additional 477 shares in the last quarter. Quarry LP acquired a new position in Brunswick in the fourth quarter valued at approximately $45,000. Fifth Third Bancorp boosted its holdings in Brunswick by 33.3% in the first quarter. Fifth Third Bancorp now owns 1,078 shares of the company’s stock valued at $58,000 after purchasing an additional 269 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Brunswick by 59.3% in the first quarter. GAMMA Investing LLC now owns 1,276 shares of the company’s stock valued at $69,000 after purchasing an additional 475 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Insider Transactions at Brunswick

In other Brunswick news, VP Christopher F. Dekker sold 2,092 shares of Brunswick stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $58.47, for a total transaction of $122,319.24. Following the sale, the vice president directly owned 44,466 shares in the company, valued at $2,599,927.02. The trade was a 4.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on BC shares. DA Davidson reiterated a “neutral” rating and issued a $43.00 price objective (down previously from $64.00) on shares of Brunswick in a research report on Monday, April 28th. Robert W. Baird raised their price target on Brunswick from $56.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Citigroup restated a “buy” rating and issued a $68.00 price target (up previously from $61.00) on shares of Brunswick in a research report on Monday, June 16th. Jefferies Financial Group dropped their price target on Brunswick from $64.00 to $45.00 and set a “hold” rating for the company in a research report on Thursday, April 24th. Finally, Truist Financial dropped their price target on Brunswick from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brunswick currently has a consensus rating of “Moderate Buy” and an average target price of $70.00.

Brunswick Stock Performance

NYSE BC opened at $58.37 on Thursday. The firm has a market capitalization of $3.83 billion, a P/E ratio of 48.24 and a beta of 1.27. Brunswick Corporation has a 1-year low of $41.00 and a 1-year high of $87.65. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.57 and a quick ratio of 0.65. The business’s 50-day simple moving average is $55.00 and its 200-day simple moving average is $56.81.

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

Brunswick Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 20th will be issued a dividend of $0.43 per share. The ex-dividend date is Wednesday, August 20th. This represents a $1.72 annualized dividend and a yield of 2.95%. Brunswick’s dividend payout ratio is presently 142.15%.

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.