Briggs & Stratton Co. (NYSE:BGG) Director Frank M. Jaehnert Buys 40,000 Shares of Stock

Briggs & Stratton Co. (NYSE:BGG) Director Frank M. Jaehnert bought 40,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were acquired at an average price of $4.39 per share, for a total transaction of $175,600.00. Following the transaction, the director now directly owns 70,479 shares in the company, valued at $309,402.81. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

BGG stock traded up $0.14 during midday trading on Friday, reaching $5.47. The stock had a trading volume of 72,637 shares, compared to its average volume of 1,101,209. The company’s fifty day simple moving average is $7.14 and its 200 day simple moving average is $10.42. The company has a current ratio of 1.32, a quick ratio of 0.45 and a debt-to-equity ratio of 0.44. The company has a market cap of $198.08 million, a price-to-earnings ratio of -17.38 and a beta of 1.23. Briggs & Stratton Co. has a 52-week low of $3.96 and a 52-week high of $21.11.

Briggs & Stratton (NYSE:BGG) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.82). The firm had revenue of $471.95 million during the quarter, compared to analysts’ expectations of $519.87 million. Briggs & Stratton had a negative net margin of 2.95% and a negative return on equity of 2.61%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.47 EPS. Sell-side analysts predict that Briggs & Stratton Co. will post 0.2 EPS for the current year.

A number of brokerages have recently issued reports on BGG. TheStreet lowered Briggs & Stratton from a “c-” rating to a “d” rating in a research report on Thursday, August 15th. ValuEngine upgraded Briggs & Stratton from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Zacks Investment Research lowered Briggs & Stratton from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Briggs & Stratton has a consensus rating of “Hold” and a consensus target price of $17.50.

A number of hedge funds have recently made changes to their positions in BGG. Brandes Investment Partners LP lifted its holdings in Briggs & Stratton by 21.6% in the 1st quarter. Brandes Investment Partners LP now owns 4,465,929 shares of the industrial products company’s stock valued at $52,832,000 after purchasing an additional 793,235 shares in the last quarter. Morgan Stanley lifted its holdings in Briggs & Stratton by 408.6% in the 2nd quarter. Morgan Stanley now owns 554,986 shares of the industrial products company’s stock valued at $5,683,000 after purchasing an additional 445,861 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Briggs & Stratton by 8.7% in the 2nd quarter. Vanguard Group Inc. now owns 4,396,640 shares of the industrial products company’s stock valued at $45,021,000 after purchasing an additional 352,274 shares in the last quarter. Penn Capital Management Co. Inc. purchased a new position in Briggs & Stratton in the 1st quarter valued at $3,059,000. Finally, Nuveen Asset Management LLC purchased a new position in Briggs & Stratton in the 2nd quarter valued at $2,586,000. Institutional investors own 83.99% of the company’s stock.

About Briggs & Stratton

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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