Dynamic Technology Lab Private Ltd Trims Stock Position in Brunswick Corporation $BC

Dynamic Technology Lab Private Ltd lessened its holdings in Brunswick Corporation (NYSE:BC) by 54.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,781 shares of the company’s stock after selling 21,609 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Brunswick were worth $1,124,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BC. Gabelli Funds LLC increased its holdings in Brunswick by 0.3% during the third quarter. Gabelli Funds LLC now owns 126,682 shares of the company’s stock valued at $8,011,000 after buying an additional 390 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Brunswick by 22.0% during the 3rd quarter. Gamco Investors INC. ET AL now owns 147,413 shares of the company’s stock worth $9,322,000 after acquiring an additional 26,552 shares during the last quarter. Barclays PLC grew its position in shares of Brunswick by 164.7% during the 3rd quarter. Barclays PLC now owns 80,606 shares of the company’s stock valued at $5,098,000 after acquiring an additional 50,152 shares during the period. Orion Porfolio Solutions LLC grew its position in shares of Brunswick by 26.6% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,210 shares of the company’s stock valued at $519,000 after acquiring an additional 1,723 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Brunswick by 2.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,749,443 shares of the company’s stock worth $173,879,000 after purchasing an additional 54,838 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BC shares. Wolfe Research set a $90.00 target price on Brunswick in a report on Monday, January 12th. Benchmark boosted their price target on Brunswick from $75.00 to $90.00 and gave the company a “buy” rating in a report on Friday, January 30th. Griffin Securities set a $76.00 price target on Brunswick in a research report on Monday, February 2nd. Robert W. Baird set a $85.00 price objective on 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 research report on Tuesday, January 6th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Brunswick presently has an average rating of “Hold” and an average target price of $84.00.

Brunswick Stock Down 4.5%

NYSE BC opened at $70.54 on Monday. The stock has a 50 day moving average price of $83.58 and a 200-day moving average price of $72.55. Brunswick Corporation has a one year low of $41.00 and a one year high of $90.25. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 1.44. The company has a market capitalization of $4.57 billion, a P/E ratio of -33.27 and a beta of 1.39.

Brunswick (NYSE:BC) last announced its quarterly 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 negative net margin of 2.56% and a positive return on equity of 12.22%. The company 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 business posted $0.24 earnings per share. Brunswick’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, equities analysts predict that Brunswick Corporation will post 4.19 EPS for the current fiscal year.

Brunswick Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Monday, February 23rd will be issued a $0.44 dividend. This is a boost from Brunswick’s previous quarterly dividend of $0.43. The ex-dividend date is Monday, February 23rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. Brunswick’s payout ratio is presently -83.02%.

Insider Activity

In related news, CEO David M. Foulkes sold 38,266 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 271,169 shares of the company’s stock, valued at approximately $23,472,388.64. This trade represents a 12.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher F. Dekker sold 4,981 shares of Brunswick stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $87.38, for a total value of $435,239.78. Following the completion of the transaction, the vice president owned 39,740 shares of the company’s stock, valued at approximately $3,472,481.20. This represents a 11.14% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.85% of the stock is currently owned by corporate insiders.

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.