Paloma Partners Management Co grew its stake in Brunswick Co. (NYSE:BC) by 96.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,964 shares of the company’s stock after buying an additional 10,763 shares during the quarter. Paloma Partners Management Co’s holdings in Brunswick were worth $1,472,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of BC. BlackRock Inc. increased its stake in shares of Brunswick by 0.4% in the 3rd quarter. BlackRock Inc. now owns 7,473,325 shares of the company’s stock valued at $500,861,000 after purchasing an additional 28,423 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Brunswick by 84.5% in the 2nd quarter. Voya Investment Management LLC now owns 2,873,040 shares of the company’s stock valued at $185,254,000 after purchasing an additional 1,315,663 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Brunswick by 3.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,738,404 shares of the company’s stock valued at $183,527,000 after purchasing an additional 78,502 shares in the last quarter. FMR LLC increased its stake in shares of Brunswick by 30.3% in the 2nd quarter. FMR LLC now owns 2,704,125 shares of the company’s stock valued at $174,362,000 after purchasing an additional 628,227 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of Brunswick by 10.6% in the 2nd quarter. Schroder Investment Management Group now owns 1,807,647 shares of the company’s stock valued at $113,593,000 after purchasing an additional 173,637 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on the company. Citigroup cut their price target on Brunswick from $76.00 to $66.00 and set a “buy” rating for the company in a research note on Tuesday, November 6th. TheStreet lowered Brunswick from a “b” rating to a “c+” rating in a research note on Thursday, October 25th. Imperial Capital restated an “outperform” rating and issued a $70.00 price target (down previously from $90.00) on shares of Brunswick in a research note on Friday, October 26th. Zacks Investment Research lowered Brunswick from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Finally, ValuEngine lowered Brunswick from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Brunswick currently has a consensus rating of “Buy” and a consensus target price of $72.00.
NYSE:BC opened at $46.58 on Friday. Brunswick Co. has a 12 month low of $46.32 and a 12 month high of $69.82. The company has a quick ratio of 0.65, a current ratio of 1.26 and a debt-to-equity ratio of 0.57. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 0.81 and a beta of 1.82.
Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, October 25th. The company reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.09. Brunswick had a return on equity of 26.19% and a net margin of 2.12%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.26 billion. Equities research analysts forecast that Brunswick Co. will post 4.69 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 14th. Shareholders of record on Tuesday, November 20th were paid a dividend of $0.21 per share. This is a positive change from Brunswick’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Monday, November 19th. Brunswick’s payout ratio is 21.59%.
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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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