Brunswick (NYSE:BC) Sets New 1-Year Low After Insider Selling

Brunswick Co. (NYSE:BC) shares reached a new 52-week low on Thursday following insider selling activity. The company traded as low as $61.23 and last traded at $61.28, with a volume of 23622 shares trading hands. The stock had previously closed at $62.47.

Specifically, SVP Randall S. Altman sold 3,417 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $63.21, for a total value of $215,988.57. Following the completion of the transaction, the senior vice president now directly owns 26,683 shares of the company’s stock, valued at approximately $1,686,632.43. This represents a 11.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Brunswick from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Roth Mkm reduced their price objective on shares of Brunswick from $91.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Robert W. Baird set a $90.00 price objective on shares of Brunswick in a research note on Friday, January 31st. Citigroup reduced their price objective on shares of Brunswick from $92.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, B. Riley upgraded shares of Brunswick to a “hold” rating in a research note on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Brunswick presently has an average rating of “Moderate Buy” and a consensus price target of $81.62.

Brunswick Stock Down 3.6 %

The stock’s fifty day moving average is $65.78 and its two-hundred day moving average is $74.79. The company has a current ratio of 1.65, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11. The firm has a market cap of $3.96 billion, a P/E ratio of 31.68 and a beta of 1.54.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. During the same period last year, the business posted $1.45 EPS. As a group, research analysts anticipate that Brunswick Co. will post 4.19 earnings per share for the current year.

Brunswick Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 24th will be given a dividend of $0.43 per share. The ex-dividend date is Monday, February 24th. This represents a $1.72 annualized dividend and a yield of 2.86%. This is a boost from Brunswick’s previous quarterly dividend of $0.42. Brunswick’s dividend payout ratio is presently 90.53%.

Institutional Investors Weigh In On Brunswick

Several institutional investors and hedge funds have recently modified their holdings of the stock. Oak Thistle LLC bought a new position in shares of Brunswick in the 4th quarter worth about $368,000. Global Alpha Capital Management Ltd. increased its stake in Brunswick by 47.5% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 240,128 shares of the company’s stock valued at $20,128,000 after purchasing an additional 77,340 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Brunswick by 7.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock valued at $124,705,000 after purchasing an additional 102,780 shares in the last quarter. Barclays PLC increased its stake in Brunswick by 78.6% during the 3rd quarter. Barclays PLC now owns 118,189 shares of the company’s stock valued at $9,907,000 after purchasing an additional 52,024 shares in the last quarter. Finally, Markel Group Inc. bought a new stake in Brunswick during the 3rd quarter valued at about $1,173,000. 99.34% of the stock is owned by hedge funds and other institutional investors.

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.