Brunswick Corporation $BC Shares Bought by CenterBook Partners LP

CenterBook Partners LP boosted its stake in shares of Brunswick Corporation (NYSE:BC) by 291.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 51,993 shares of the company’s stock after buying an additional 38,708 shares during the quarter. CenterBook Partners LP’s holdings in Brunswick were worth $3,340,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Brunswick during the 2nd quarter worth approximately $568,461,000. Dimensional Fund Advisors LP lifted its position in Brunswick by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,931,104 shares of the company’s stock valued at $213,253,000 after purchasing an additional 82,689 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Brunswick during the second quarter valued at approximately $101,201,000. Bank of America Corp DE boosted its stake in shares of Brunswick by 296.1% during the first quarter. Bank of America Corp DE now owns 872,368 shares of the company’s stock valued at $63,474,000 after purchasing an additional 652,136 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Brunswick during the second quarter valued at approximately $40,211,000. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO David Foulkes sold 48,134 shares of the stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $78.98, for a total value of $3,801,623.32. Following the completion of the transaction, the chief executive officer directly owned 221,047 shares of the company’s stock, valued at $17,458,292.06. This represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BC shares. DA Davidson restated a “neutral” rating and issued a $76.00 target price on shares of Brunswick in a report on Monday, August 17th. JPMorgan Chase & Co. lowered their price target on shares of Brunswick from $80.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, October 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Brunswick in a research report on Monday, September 21st. Robert W. Baird set a $92.00 price target on shares of Brunswick in a report on Friday, July 31st. Finally, BNP Paribas Exane started coverage on shares of Brunswick in a report on Friday, October 30th. They issued a “hold” rating and a $79.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Brunswick currently has a consensus rating of “Hold” and a consensus price target of $83.75.

Brunswick Stock Performance

Shares of BC stock opened at $77.26 on Friday. The stock has a fifty day moving average of $68.79 and a 200 day moving average of $77.23. Brunswick Corporation has a 52 week low of $59.06 and a 52 week high of $90.25. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 23.92 and a beta of 1.40. The company has a quick ratio of 0.62, a current ratio of 1.51 and a debt-to-equity ratio of 1.07.

Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.23. Brunswick had a net margin of 3.69% and a return on equity of 17.51%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm earned $0.97 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts expect that Brunswick Corporation will post 4.66 earnings per share for the current year.

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, November 24th will be given a dividend of $0.44 per share. The ex-dividend date is Tuesday, November 24th. This represents a $1.76 annualized dividend and a dividend yield of 2.3%. Brunswick’s payout ratio is currently 54.49%.

Brunswick Profile

Brunswick Corporation (NYSE:BC) is a marine recreation company that designs, manufactures and distributes products used in boating and related recreational activities. Its portfolio includes marine propulsion systems, boats, engines, electronics, boat control systems and other components, as well as parts and accessories.

The company’s marine businesses include Mercury Marine, which produces outboard, sterndrive and inboard engines, and a range of boat brands such as Boston Whaler, Sea Ray, Bayliner, Lund, Harris and Princecraft.