Lenox Wealth Management Inc. increased its stake in shares of Brunswick Co. (NYSE:BC) by 4.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,410 shares of the company’s stock after buying an additional 301 shares during the quarter. Lenox Wealth Management Inc.’s holdings in Brunswick were worth $334,000 at the end of the most recent quarter.
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Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intercontinental Wealth Advisors LLC purchased a new position in shares of Brunswick during the third quarter worth about $55,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Brunswick during the second quarter worth about $66,000. AdvisorNet Financial Inc grew its holdings in shares of Brunswick by 63.4% during the second quarter. AdvisorNet Financial Inc now owns 1,546 shares of the company’s stock worth $71,000 after buying an additional 600 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Brunswick by 95.3% during the second quarter. Signaturefd LLC now owns 2,049 shares of the company’s stock worth $94,000 after buying an additional 1,000 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new position in shares of Brunswick during the second quarter worth about $124,000. 96.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BC stock traded down $0.07 during midday trading on Friday, reaching $60.84. 500,925 shares of the company traded hands, compared to its average volume of 1,080,720. The firm’s 50 day simple moving average is $54.94 and its two-hundred day simple moving average is $49.02. Brunswick Co. has a 1-year low of $41.02 and a 1-year high of $62.23. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.87 and a quick ratio of 0.98. The firm has a market cap of $4.97 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 1.42 and a beta of 1.72.
Brunswick (NYSE:BC) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.11. Brunswick had a negative net margin of 3.32% and a positive return on equity of 25.96%. The company had revenue of $976.60 million during the quarter, compared to the consensus estimate of $984.32 million. During the same period last year, the firm earned $1.28 EPS. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, research analysts anticipate that Brunswick Co. will post 4.26 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.58%. This is an increase from Brunswick’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, November 18th. Brunswick’s dividend payout ratio (DPR) is presently 17.61%.
In other news, CFO William Metzger sold 4,111 shares of Brunswick stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $59.65, for a total transaction of $245,221.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by company insiders.
A number of equities analysts recently issued reports on the company. Wedbush raised their price target on Brunswick from $60.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. KeyCorp lifted their price objective on Brunswick from $58.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 28th. SunTrust Banks set a $66.00 price objective on Brunswick and gave the company a “buy” rating in a report on Friday, October 25th. BMO Capital Markets lowered their price objective on Brunswick to $63.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. lowered Brunswick from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $61.00 to $46.00 in a report on Monday, July 22nd. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Brunswick has a consensus rating of “Buy” and an average target price of $61.67.
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, electrical systems, service parts, and lubricants; and integrated propulsion systems to the recreational and commercial marine markets, as well as parts and accessories.
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