Oak Thistle LLC Purchases Shares of 8,751 Brunswick Corporation $BC
by Danessa Lincoln · The Markets DailyOak Thistle LLC acquired a new stake in Brunswick Corporation (NYSE:BC – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,751 shares of the company’s stock, valued at approximately $650,000.
Several other institutional investors have also recently modified their holdings of BC. First Horizon Corp purchased a new stake in Brunswick in the third quarter valued at approximately $26,000. Jones Financial Companies Lllp raised its position 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 buying an additional 166 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Brunswick during the 3rd quarter valued at approximately $37,000. Quent Capital LLC acquired a new stake in Brunswick during the 3rd quarter valued at approximately $38,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Brunswick by 705.4% in the 3rd quarter. Larson Financial Group LLC now owns 596 shares of the company’s stock valued at $38,000 after acquiring an additional 522 shares during the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.
Brunswick Stock Down 1.2%
Brunswick stock opened at $77.03 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.44 and a quick ratio of 0.61. The stock has a market capitalization of $5.02 billion, a PE ratio of -36.34 and a beta of 1.38. The business has a 50 day simple moving average of $78.19 and a 200-day simple moving average of $73.79. Brunswick Corporation has a 12 month low of $41.86 and a 12 month high of $90.25.
Brunswick (NYSE:BC – Get Free Report) last announced its earnings results on Thursday, January 29th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.21 billion. Brunswick had a positive return on equity of 12.22% and a negative net margin of 2.56%.The business’s revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 EPS. On average, analysts anticipate that Brunswick Corporation will post 4.19 EPS for the current fiscal year.
Brunswick Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, February 23rd were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.3%. This is a positive change from Brunswick’s previous quarterly dividend of $0.43. The ex-dividend date was Monday, February 23rd. Brunswick’s dividend payout ratio (DPR) is -83.02%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of Brunswick from $100.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Jefferies Financial Group set a $115.00 price target on shares of Brunswick and gave the company a “buy” rating in a report on Tuesday, January 6th. Roth Mkm reaffirmed a “buy” rating and set a $94.00 price target (up from $79.00) on shares of Brunswick in a research report on Friday, January 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of Brunswick in a report on Friday, March 27th. Finally, Benchmark upped their target price on Brunswick from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $84.57.
Insider Transactions at Brunswick
In related news, CEO David M. Foulkes sold 38,266 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $86.56, for a total transaction 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 represents a 12.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher F. Dekker sold 4,981 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $87.38, for a total transaction of $435,239.78. Following the completion of the transaction, the vice president directly owned 39,740 shares in the company, valued at $3,472,481.20. This represents a 11.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.99% of the stock is owned by insiders.
Brunswick 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.
See Also
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