Nordea Investment Management AB boosted its stake in Brunswick Corp. (NYSE:BC) by 72.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,986 shares of the company’s stock after buying an additional 10,039 shares during the period. Nordea Investment Management AB’s holdings in Brunswick Corp. were worth $1,170,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. bought a new position in shares of Brunswick Corp. during the second quarter worth about $109,000. Advisors Asset Management Inc. bought a new position in shares of Brunswick Corp. during the second quarter worth about $109,000. World Asset Management Inc boosted its position in shares of Brunswick Corp. by 0.3% in the second quarter. World Asset Management Inc now owns 4,441 shares of the company’s stock worth $201,000 after buying an additional 12 shares during the last quarter. Advisor Group Inc. bought a new position in shares of Brunswick Corp. during the second quarter worth about $210,000. Finally, Investors Capital Advisory Services bought a new position in shares of Brunswick Corp. during the second quarter worth about $221,000. 96.62% of the stock is owned by hedge funds and other institutional investors.
Shares of Brunswick Corp. (NYSE:BC) traded up 0.14% during mid-day trading on Friday, hitting $49.32. The stock had a trading volume of 442,911 shares. Brunswick Corp. has a 1-year low of $36.05 and a 1-year high of $54.59. The company has a market capitalization of $4.42 billion, a P/E ratio of 18.35 and a beta of 1.94. The stock’s 50-day moving average price is $46.70 and its 200 day moving average price is $47.24.
Brunswick Corp. (NYSE:BC) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by $0.01. Brunswick Corp. had a net margin of 5.67% and a return on equity of 22.74%. The firm earned $1.09 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts predict that Brunswick Corp. will post $3.47 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 22nd will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.34%. This is a positive change from Brunswick Corp.’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, November 18th. Brunswick Corp.’s dividend payout ratio is currently 24.44%.
A number of brokerages have issued reports on BC. B. Riley reissued a “buy” rating and set a $65.00 price objective on shares of Brunswick Corp. in a report on Wednesday, November 2nd. Zacks Investment Research raised Brunswick Corp. from a “sell” rating to a “hold” rating in a report on Monday, October 31st. Stifel Nicolaus reissued a “buy” rating and set a $60.00 price objective on shares of Brunswick Corp. in a report on Saturday, October 15th. Finally, Imperial Capital began coverage on Brunswick Corp. in a report on Tuesday, September 27th. They set an “outperform” rating and a $60.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $56.69.
Brunswick Corp. Company Profile
Brunswick Corporation (Brunswick) is a designer, manufacturer and marketer of recreation products, including marine engines, boats, fitness and active recreation products. The Company operates in three segments, which include Marine Engine, Boat and Fitness. The Marine Engine segment manufactures and markets a range of outboard engines, sterndrive engines, inboard engines and marine parts and accessories, which are principally sold directly to boat builders, including Brunswick’s Boat segment, or through marine retail dealers and distributors across the world.