Channing Capital Management LLC Has $74.77 Million Stake in Brunswick Corporation $BC

Channing Capital Management LLC decreased its position in shares of Brunswick Corporation (NYSE:BC) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,182,326 shares of the company’s stock after selling 14,168 shares during the quarter. Brunswick makes up approximately 2.0% of Channing Capital Management LLC’s holdings, making the stock its 22nd largest holding. Channing Capital Management LLC owned about 1.82% of Brunswick worth $74,770,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Horizon Corp bought a new stake in shares of Brunswick during the third quarter worth $26,000. Jones Financial Companies Lllp raised its holdings in Brunswick by 50.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 494 shares of the company’s stock worth $31,000 after purchasing an additional 166 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Brunswick during the 3rd quarter valued at about $37,000. Quent Capital LLC bought a new position in shares of Brunswick in the 3rd quarter valued at about $38,000. Finally, Parkside Financial Bank & Trust grew its position in shares of Brunswick by 103.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 702 shares of the company’s stock worth $39,000 after buying an additional 357 shares during the period. 99.34% of the stock is owned by institutional investors and hedge funds.

Brunswick Price Performance

BC opened at $89.05 on Friday. The stock has a market cap of $5.77 billion, a P/E ratio of -42.00 and a beta of 1.39. Brunswick Corporation has a 12 month low of $41.00 and a 12 month high of $90.25. The company has a quick ratio of 0.61, a current ratio of 1.44 and a debt-to-equity ratio of 1.11. The company has a fifty day simple moving average of $82.87 and a 200 day simple moving average of $71.21.

Brunswick (NYSE:BC) last posted its earnings results on Thursday, January 29th. The company reported $0.58 earnings per share for the quarter, hitting the consensus estimate of $0.58. Brunswick had a positive return on equity of 12.22% and a negative net margin of 2.56%.The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, research analysts expect that Brunswick Corporation will post 4.19 EPS for the current year.

Brunswick Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, February 23rd will be given a $0.44 dividend. The ex-dividend date is Monday, February 23rd. This represents a $1.76 annualized dividend and a dividend yield of 2.0%. This is a boost from Brunswick’s previous quarterly dividend of $0.43. Brunswick’s payout ratio is presently -81.13%.

Wall Street Analysts Forecast Growth

BC has been the topic of several analyst reports. DA Davidson increased their price objective on shares of Brunswick from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, February 2nd. Wolfe Research set a $90.00 price target on Brunswick in a research note on Monday, January 12th. Weiss Ratings restated a “sell (d+)” rating on shares of Brunswick in a research report on Monday, December 29th. B. Riley Financial reaffirmed a “neutral” rating and set a $80.00 price objective (up from $70.00) on shares of Brunswick in a research note on Friday, January 30th. Finally, Jefferies Financial Group set a $115.00 price objective on Brunswick and gave the company a “buy” rating in a report on Tuesday, January 6th. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.00.

Insider Activity at Brunswick

In other Brunswick news, CEO David M. Foulkes sold 38,266 shares of Brunswick stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $86.56, for a total value of $3,312,304.96. Following the transaction, the chief executive officer owned 271,169 shares of the company’s stock, valued at approximately $23,472,388.64. The trade was a 12.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Christopher F. Dekker sold 4,981 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $87.38, for a total transaction of $435,239.78. Following the sale, the vice president directly owned 39,740 shares of the company’s stock, valued at $3,472,481.20. This represents a 11.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.81% of the company’s stock.

About Brunswick

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.