Cannell Peter B & Co. Inc. lowered its stake in shares of Brunswick Co. (NYSE:BC) by 18.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 620,735 shares of the company’s stock after selling 137,870 shares during the quarter. Brunswick comprises 1.4% of Cannell Peter B & Co. Inc.’s portfolio, making the stock its 18th largest holding. Cannell Peter B & Co. Inc. owned approximately 0.71% of Brunswick worth $36,865,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Brunswick by 18.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,618 shares of the company’s stock worth $334,000 after purchasing an additional 861 shares during the period. Delphi Management Inc. MA boosted its position in Brunswick by 2.5% during the fourth quarter. Delphi Management Inc. MA now owns 37,028 shares of the company’s stock worth $2,045,000 after purchasing an additional 900 shares during the period. Teachers Advisors LLC boosted its position in Brunswick by 1.1% during the fourth quarter. Teachers Advisors LLC now owns 97,458 shares of the company’s stock worth $5,382,000 after purchasing an additional 1,060 shares during the period. Fernwood Investment Management LLC boosted its position in Brunswick by 10.3% during the first quarter. Fernwood Investment Management LLC now owns 12,800 shares of the company’s stock worth $760,000 after purchasing an additional 1,200 shares during the period. Finally, M&T Bank Corp boosted its position in Brunswick by 17.3% during the fourth quarter. M&T Bank Corp now owns 8,605 shares of the company’s stock worth $476,000 after purchasing an additional 1,271 shares during the period. 93.77% of the stock is owned by hedge funds and other institutional investors.
Shares of Brunswick opened at $62.49 on Monday, Marketbeat.com reports. Brunswick Co. has a 12 month low of $48.04 and a 12 month high of $64.45. The company has a market cap of $5.45 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 1.10 and a beta of 1.84. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.73 and a quick ratio of 0.96.
Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, April 26th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.07. Brunswick had a return on equity of 23.33% and a net margin of 3.26%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the company earned $0.84 earnings per share. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. equities analysts anticipate that Brunswick Co. will post 4.63 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Tuesday, May 22nd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, May 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.22%. Brunswick’s dividend payout ratio (DPR) is presently 19.54%.
A number of brokerages have issued reports on BC. Zacks Investment Research cut Brunswick from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. KeyCorp reaffirmed an “overweight” rating on shares of Brunswick in a research report on Friday, March 2nd. CL King raised Brunswick from a “neutral” rating to a “buy” rating in a research report on Monday, March 5th. SunTrust Banks upped their target price on Brunswick to $78.00 and gave the stock a “buy” rating in a research report on Monday, March 5th. Finally, Imperial Capital reaffirmed an “outperform” rating and set a $78.00 target price (up previously from $70.00) on shares of Brunswick in a research report on Tuesday, March 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $69.66.
Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, service parts, and lubricants; and diesel propulsion systems to the recreational and commercial marine markets.
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