Brunswick (NYSE:BC) Reaches New 52-Week Low – Here’s What Happened

Brunswick Co. (NYSE:BC) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $55.40 and last traded at $55.54, with a volume of 1257379 shares traded. The stock had previously closed at $59.01.

Wall Street Analyst Weigh In

Several analysts have issued reports on BC shares. Stifel Nicolaus decreased their price objective on shares of Brunswick from $95.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. DA Davidson decreased their price objective on shares of Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Robert W. Baird set a $90.00 price objective on shares of Brunswick in a research note on Friday, January 31st. Truist Financial decreased their price objective on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Benchmark decreased their price objective on shares of Brunswick from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.62.

Brunswick Trading Up 1.1 %

The company has a market capitalization of $3.86 billion, a PE ratio of 30.82 and a beta of 1.54. The company’s fifty day moving average is $65.16 and its 200-day moving average is $74.30. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 0.63.

Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.06. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. During the same quarter last year, the business earned $1.45 EPS. On average, analysts anticipate that Brunswick Co. will post 4.19 EPS for the current fiscal year.

Brunswick Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 24th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.94%. This is a positive change from Brunswick’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, February 24th. Brunswick’s dividend payout ratio (DPR) is presently 90.53%.

Insider Activity at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 433 shares of Brunswick stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $65.65, for a total value of $28,426.45. Following the transaction, the director now directly owns 25,361 shares of the company’s stock, valued at approximately $1,664,949.65. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Randall S. Altman sold 3,417 shares of Brunswick stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total transaction of $215,988.57. Following the completion of the transaction, the senior vice president now directly owns 26,683 shares in the company, valued at $1,686,632.43. This represents a 11.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Brunswick

Institutional investors and hedge funds have recently made changes to their positions in the stock. Armstrong Advisory Group Inc. acquired a new stake in shares of Brunswick during the fourth quarter worth $39,000. Financial Perspectives Inc acquired a new stake in shares of Brunswick during the fourth quarter worth $42,000. Avior Wealth Management LLC lifted its stake in shares of Brunswick by 1,073.7% during the third quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock worth $56,000 after buying an additional 612 shares during the period. Quarry LP acquired a new stake in shares of Brunswick during the fourth quarter worth $45,000. Finally, Covestor Ltd lifted its stake in shares of Brunswick by 669.0% during the third quarter. Covestor Ltd now owns 969 shares of the company’s stock worth $81,000 after buying an additional 843 shares during the period. 99.34% of the stock is currently owned by institutional investors and hedge funds.

About Brunswick

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.