Verity Asset Management Inc. Reduces Stock Position in Brunswick Co. (NYSE:BC)

Verity Asset Management Inc. lowered its position in shares of Brunswick Co. (NYSE:BC) by 50.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,161 shares of the company’s stock after selling 2,243 shares during the quarter. Verity Asset Management Inc.’s holdings in Brunswick were worth $209,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in shares of Brunswick in the 4th quarter worth about $28,000. Johnson Financial Group Inc. purchased a new stake in shares of Brunswick in the 4th quarter worth about $30,000. Rise Advisors LLC lifted its position in shares of Brunswick by 249.5% in the 1st quarter. Rise Advisors LLC now owns 325 shares of the company’s stock worth $31,000 after purchasing an additional 232 shares during the period. SRS Capital Advisors Inc. lifted its position in shares of Brunswick by 347.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 434 shares of the company’s stock worth $42,000 after purchasing an additional 337 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Brunswick by 43,700.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock worth $42,000 after purchasing an additional 437 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Brunswick Stock Performance

Shares of BC stock traded down $0.26 during trading hours on Friday, reaching $77.33. The company had a trading volume of 957,762 shares, compared to its average volume of 1,090,010. The business has a fifty day moving average price of $76.09 and a 200-day moving average price of $82.86. Brunswick Co. has a one year low of $66.47 and a one year high of $99.68. The firm has a market cap of $5.23 billion, a PE ratio of 14.37 and a beta of 1.52. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.70.

Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the firm earned $2.35 earnings per share. The business’s revenue was down 15.2% compared to the same quarter last year. Sell-side analysts predict that Brunswick Co. will post 5.59 earnings per share for the current fiscal year.

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st will be paid a $0.42 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.17%. Brunswick’s dividend payout ratio is presently 31.23%.

Insider Transactions at Brunswick

In other news, VP Brenna Preisser sold 1,225 shares of Brunswick stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $82.09, for a total value of $100,560.25. Following the completion of the sale, the vice president now directly owns 58,076 shares in the company, valued at $4,767,458.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Nancy E. Cooper sold 358 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $81.34, for a total transaction of $29,119.72. Following the completion of the sale, the director now directly owns 23,877 shares in the company, valued at $1,942,155.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brenna Preisser sold 1,225 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $82.09, for a total transaction of $100,560.25. Following the sale, the vice president now owns 58,076 shares of the company’s stock, valued at $4,767,458.84. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BC shares. Northcoast Research raised shares of Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Monday, July 29th. Truist Financial lowered their price target on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Morgan Stanley lowered their price target on shares of Brunswick from $91.00 to $86.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Roth Mkm reissued a “buy” rating and set a $94.00 price target on shares of Brunswick in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Brunswick from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $88.21.

Brunswick Company Profile

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.