New York State Teachers Retirement System reduced its stake in shares of Briggs & Stratton Co. (NYSE:BGG) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,765 shares of the industrial products company’s stock after selling 3,900 shares during the period. New York State Teachers Retirement System owned 0.30% of Briggs & Stratton worth $1,658,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Briggs & Stratton in the 3rd quarter worth approximately $195,000. Campbell & CO Investment Adviser LLC purchased a new position in Briggs & Stratton in the 3rd quarter worth approximately $274,000. Dynamic Technology Lab Private Ltd purchased a new position in Briggs & Stratton in the 3rd quarter worth approximately $483,000. Commonwealth Equity Services LLC lifted its holdings in Briggs & Stratton by 95.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 28,522 shares of the industrial products company’s stock worth $548,000 after purchasing an additional 13,927 shares in the last quarter. Finally, MetLife Investment Advisors LLC lifted its holdings in Briggs & Stratton by 57.5% in the 3rd quarter. MetLife Investment Advisors LLC now owns 30,468 shares of the industrial products company’s stock worth $586,000 after purchasing an additional 11,121 shares in the last quarter. 84.96% of the stock is currently owned by hedge funds and other institutional investors.
NYSE BGG opened at $12.79 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.47 and a current ratio of 1.31. Briggs & Stratton Co. has a 12 month low of $11.34 and a 12 month high of $23.10. The company has a market capitalization of $527.93 million, a P/E ratio of 9.91 and a beta of 0.93.
Briggs & Stratton (NYSE:BGG) last posted its quarterly earnings results on Wednesday, January 23rd. The industrial products company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.05). Briggs & Stratton had a positive return on equity of 8.12% and a negative net margin of 1.24%. The business had revenue of $505.50 million during the quarter, compared to analysts’ expectations of $461.71 million. During the same period in the prior year, the firm posted $0.25 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities analysts forecast that Briggs & Stratton Co. will post 1.15 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Tuesday, March 19th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend is Monday, March 18th. Briggs & Stratton’s payout ratio is 43.41%.
In other news, Director Frank M. Jaehnert acquired 10,000 shares of Briggs & Stratton stock in a transaction on Monday, January 28th. The shares were acquired at an average price of $12.04 per share, with a total value of $120,400.00. Following the purchase, the director now directly owns 25,000 shares in the company, valued at approximately $301,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 6.30% of the company’s stock.
A number of research analysts recently commented on the company. Zacks Investment Research cut Briggs & Stratton from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 29th. Robert W. Baird set a $14.00 price target on Briggs & Stratton and gave the stock a “hold” rating in a report on Friday, January 25th. ValuEngine cut Briggs & Stratton from a “sell” rating to a “strong sell” rating in a report on Thursday, January 24th. Finally, Sidoti lowered their price target on Briggs & Stratton from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, December 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Briggs & Stratton has an average rating of “Hold” and an average target price of $17.50.
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Briggs & Stratton Profile
Briggs & Stratton Corporation designs, manufactures, markets, sells, and services gasoline engines for outdoor power equipment to the original equipment manufacturers in the United States. It operates in two segments, Engines and Products. The Engines segment offers four-cycle aluminum alloy gasoline engines that are used primarily by the lawn and garden equipment industry.
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