Brunswick (NYSE:BC) Sets New 12-Month Low Following Insider Selling

Brunswick Co. (NYSE:BC)’s share price reached a new 52-week low on Thursday after an insider sold shares in the company. The stock 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 firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $63.21, for a total value of $215,988.57. Following 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 trade represents a 11.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Stifel Nicolaus reduced their target price on Brunswick from $95.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. B. Riley raised Brunswick to a “hold” rating in a research note on Wednesday, February 12th. Citigroup lowered their target price on shares of Brunswick from $92.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. DA Davidson reduced their target price on shares of Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, January 22nd. Finally, Morgan Stanley boosted their price target on shares of Brunswick from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $81.62.

Brunswick Trading Down 1.5 %

The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 32.39 and a beta of 1.54. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65. The company has a 50 day moving average of $65.92 and a 200-day moving average of $74.89.

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.24 earnings per share for the quarter, beating 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 in the previous year, the company earned $1.45 earnings per share. On average, research analysts anticipate that Brunswick Co. will post 4.19 earnings per share for the current year.

Brunswick Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 24th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.79%. This is a boost from Brunswick’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, February 24th. Brunswick’s payout ratio is presently 90.53%.

Institutional Investors Weigh In On Brunswick

A number of hedge funds have recently bought and sold shares of BC. Armstrong Advisory Group Inc. purchased a new stake in shares of Brunswick during the fourth quarter worth approximately $39,000. Financial Perspectives Inc acquired a new position in Brunswick during the 4th quarter worth approximately $42,000. Avior Wealth Management LLC increased its position in shares of Brunswick by 1,073.7% in the 3rd quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock valued at $56,000 after purchasing an additional 612 shares during the last quarter. Quarry LP acquired a new stake in shares of Brunswick in the 4th quarter valued at $45,000. Finally, Covestor Ltd lifted its position in shares of Brunswick by 669.0% during the 3rd quarter. Covestor Ltd now owns 969 shares of the company’s stock worth $81,000 after purchasing an additional 843 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

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.