Polar Asset Management Partners Inc. Sells 15,905 Shares of Brunswick Corporation $BC

Polar Asset Management Partners Inc. decreased its position in Brunswick Corporation (NYSE:BC) by 29.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,895 shares of the company’s stock after selling 15,905 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.06% of Brunswick worth $2,396,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its stake in Brunswick by 0.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,494,664 shares of the company’s stock valued at $221,003,000 after purchasing an additional 11,777 shares during the period. Dimensional Fund Advisors LP increased its position in Brunswick by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,749,443 shares of the company’s stock worth $173,879,000 after buying an additional 54,838 shares during the period. American Century Companies Inc. lifted its holdings in shares of Brunswick by 56.4% during the third quarter. American Century Companies Inc. now owns 2,302,918 shares of the company’s stock worth $145,637,000 after buying an additional 830,451 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in shares of Brunswick by 2.5% in the third quarter. Deprince Race & Zollo Inc. now owns 1,852,050 shares of the company’s stock valued at $117,124,000 after acquiring an additional 44,431 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Brunswick by 70.1% in the third quarter. Bank of New York Mellon Corp now owns 1,700,164 shares of the company’s stock valued at $107,518,000 after acquiring an additional 700,447 shares during the period. 99.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BC has been the topic of several research reports. Seaport Research Partners upgraded shares of Brunswick to a “strong-buy” rating in a research note on Monday, December 8th. B. Riley Financial reissued a “neutral” rating and issued a $80.00 price objective (up from $70.00) on shares of Brunswick in a report on Friday, January 30th. Wolfe Research set a $90.00 target price on shares of Brunswick in a research report on Monday, January 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brunswick in a report on Monday, December 29th. Finally, Robert W. Baird set a $85.00 price target on shares of Brunswick in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $84.57.

Brunswick Stock Up 0.9%

BC stock opened at $71.20 on Friday. Brunswick Corporation has a 52 week low of $41.00 and a 52 week high of $90.25. The business has a 50-day simple moving average of $82.23 and a 200 day simple moving average of $72.85. The company has a quick ratio of 0.61, a current ratio of 1.44 and a debt-to-equity ratio of 1.11. The company has a market cap of $4.62 billion, a PE ratio of -33.58 and a beta of 1.39.

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.58. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.21 billion. Brunswick had a negative net margin of 2.56% and a positive return on equity of 12.22%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. Sell-side analysts anticipate that Brunswick Corporation will post 4.19 EPS for the current fiscal year.

Brunswick Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, February 23rd were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. This is a positive change from Brunswick’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Monday, February 23rd. Brunswick’s payout ratio is -83.02%.

Insider Buying and Selling

In other Brunswick news, CEO David M. Foulkes sold 38,266 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $86.56, for a total value of $3,312,304.96. Following the sale, the chief executive officer owned 271,169 shares of the company’s stock, valued at approximately $23,472,388.64. This trade represents a 12.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Christopher F. Dekker sold 4,981 shares of Brunswick stock in a transaction on Friday, February 6th. The shares were sold at an average price of $87.38, for a total value of $435,239.78. Following the completion of the transaction, the vice president owned 39,740 shares in the company, valued at approximately $3,472,481.20. The trade was a 11.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.81% of the company’s stock.

About Brunswick

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.