12th Street Asset Management Company LLC Increases Stock Holdings in Brunswick Corporation $BC

12th Street Asset Management Company LLC grew its stake in Brunswick Corporation (NYSE:BC) by 39.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 363,381 shares of the company’s stock after buying an additional 102,985 shares during the period. Brunswick accounts for 3.9% of 12th Street Asset Management Company LLC’s investment portfolio, making the stock its 11th largest holding. 12th Street Asset Management Company LLC owned about 0.56% of Brunswick worth $22,980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in BC. Bank of New York Mellon Corp boosted its holdings in shares of Brunswick by 70.1% in the third quarter. Bank of New York Mellon Corp now owns 1,700,164 shares of the company’s stock valued at $107,518,000 after acquiring an additional 700,447 shares during the period. AQR Capital Management LLC boosted its stake in Brunswick by 812.7% during the 2nd quarter. AQR Capital Management LLC now owns 705,719 shares of the company’s stock worth $38,934,000 after purchasing an additional 628,393 shares during the period. Norges Bank purchased a new position in Brunswick during the 2nd quarter worth $27,990,000. Franklin Resources Inc. increased its stake in Brunswick by 194.2% in the second quarter. Franklin Resources Inc. now owns 574,352 shares of the company’s stock valued at $31,727,000 after purchasing an additional 379,155 shares during the period. Finally, Pacer Advisors Inc. purchased a new stake in shares of Brunswick in the third quarter valued at about $23,061,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Insider Activity

In related news, CEO David M. Foulkes sold 38,266 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $86.56, for a total value of $3,312,304.96. Following the completion of the transaction, the chief executive officer owned 271,169 shares in the company, valued at $23,472,388.64. This trade represents a 12.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Christopher F. Dekker sold 4,981 shares of Brunswick stock in a transaction that occurred 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 transaction, the vice president owned 39,740 shares in the company, valued at approximately $3,472,481.20. The trade was a 11.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.81% of the stock is currently owned by company insiders.

Brunswick Stock Performance

NYSE:BC opened at $86.31 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. Brunswick Corporation has a twelve month low of $41.00 and a twelve month high of $89.61. The firm’s fifty day simple moving average is $81.06 and its 200 day simple moving average is $69.93. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of -40.71 and a beta of 1.39.

Brunswick (NYSE:BC) last released its quarterly earnings results on Thursday, January 29th. The company reported $0.58 EPS 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 business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts expect that Brunswick Corporation will post 4.19 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The firm also recently announced 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 yield of 2.0%. This is an increase from Brunswick’s previous quarterly dividend of $0.43. Brunswick’s payout ratio is -81.13%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BC. Weiss Ratings restated a “sell (d+)” rating on shares of Brunswick in a research report on Monday, December 29th. Morgan Stanley set a $81.00 target price on Brunswick in a report on Friday, January 16th. Citigroup increased their price target on Brunswick from $100.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. DA Davidson boosted their price objective on shares of Brunswick from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. Finally, Wolfe Research set a $90.00 price target on shares of Brunswick in a report on Monday, January 12th. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $83.93.

Brunswick Company Profile

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.