Brunswick (NYSE:BC) Reaches New 1-Year Low – Here’s Why

Brunswick Co. (NYSE:BC) shares hit a new 52-week low on Wednesday . The stock traded as low as $68.23 and last traded at $68.55, with a volume of 619884 shares. The stock had previously closed at $71.42.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Citigroup upped their price target on shares of Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. B. Riley downgraded Brunswick from a “buy” rating to a “neutral” rating and dropped their target price for the company from $95.00 to $88.00 in a report on Tuesday, November 26th. Finally, Benchmark restated a “buy” rating and issued a $100.00 target price on shares of Brunswick in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $88.54.

Brunswick Stock Performance

The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 16.60 and a beta of 1.50. The firm has a fifty day simple moving average of $79.76 and a 200 day simple moving average of $78.21. The company has a current ratio of 1.97, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17.

Brunswick Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.68 annualized dividend and a dividend yield of 2.52%. Brunswick’s payout ratio is currently 41.79%.

Insider Activity

In other news, Director Joseph W. Mcclanathan sold 4,745 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $80.14, for a total transaction of $380,264.30. Following the completion of the transaction, the director now directly owns 19,218 shares of the company’s stock, valued at $1,540,130.52. This trade represents a 19.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David M. Foulkes sold 23,829 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $80.22, for a total value of $1,911,562.38. Following the completion of the transaction, the chief executive officer now owns 251,094 shares of the company’s stock, valued at $20,142,760.68. The trade was a 8.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,940 shares of company stock valued at $2,321,176 in the last quarter. Company insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Brunswick

Several institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new stake in shares of Brunswick during the 3rd quarter worth $26,000. Avior Wealth Management LLC lifted its holdings in shares of Brunswick by 1,073.7% in the third quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock worth $56,000 after acquiring an additional 612 shares during the last quarter. Covestor Ltd boosted its stake in shares of Brunswick by 669.0% in the 3rd quarter. Covestor Ltd now owns 969 shares of the company’s stock valued at $81,000 after purchasing an additional 843 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Brunswick by 92.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,155 shares of the company’s stock valued at $97,000 after purchasing an additional 555 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Brunswick by 47.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,511 shares of the company’s stock valued at $110,000 after purchasing an additional 483 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

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.