Levin Capital Strategies L.P. Raises Holdings in Brunswick Co. (NYSE:BC)

Levin Capital Strategies L.P. lifted its holdings in shares of Brunswick Co. (NYSE:BC) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,504 shares of the company’s stock after buying an additional 4,809 shares during the period. Levin Capital Strategies L.P. owned about 0.14% of Brunswick worth $5,918,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA raised its stake in shares of Brunswick by 17.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock worth $259,010,000 after buying an additional 452,116 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Brunswick by 7.4% during the third quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock worth $124,705,000 after purchasing an additional 102,780 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Brunswick by 13.5% during the third quarter. Victory Capital Management Inc. now owns 1,414,490 shares of the company’s stock worth $118,563,000 after purchasing an additional 168,384 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Brunswick by 2.7% during the third quarter. Principal Financial Group Inc. now owns 1,075,845 shares of the company’s stock worth $90,171,000 after purchasing an additional 28,781 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Brunswick by 16.7% during the fourth quarter. Bank of New York Mellon Corp now owns 766,509 shares of the company’s stock worth $49,578,000 after purchasing an additional 109,728 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 433 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $65.65, for a total transaction of $28,426.45. Following the completion of the sale, the director now owns 25,361 shares of the company’s stock, valued at approximately $1,664,949.65. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Randall S. Altman sold 3,417 shares of the business’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 sale, 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 disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.

Brunswick Stock Performance

Brunswick stock opened at $60.81 on Friday. The firm has a market capitalization of $4.00 billion, a P/E ratio of 32.01 and a beta of 1.54. The stock has a fifty day moving average price of $65.66 and a 200 day moving average price of $74.69. Brunswick Co. has a 52 week low of $59.25 and a 52 week high of $96.65. The company has a current ratio of 1.65, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11.

Brunswick (NYSE:BC) last released its earnings results on Thursday, January 30th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.18 by $0.06. Brunswick had a return on equity of 15.41% and a net margin of 2.48%. During the same period last year, the company earned $1.45 earnings per share. Equities 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. This represents a $1.72 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Monday, February 24th. This is an increase from Brunswick’s previous quarterly dividend of $0.42. Brunswick’s payout ratio is 90.53%.

Analysts Set New Price Targets

Several brokerages recently issued reports on BC. DA Davidson reduced their price objective on Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. Truist Financial reduced their price objective on Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Stifel Nicolaus reduced their price objective on Brunswick from $95.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Roth Mkm reduced their price objective on Brunswick from $91.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 24th. Finally, B. Riley raised Brunswick to a “hold” rating in a report on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.62.

Brunswick 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.