Brunswick (NYSE:BC) Reaches New 1-Year Low – Here’s What Happened

Brunswick Co. (NYSE:BC) shares reached a new 52-week low on Thursday . The company traded as low as $50.43 and last traded at $50.49, with a volume of 335826 shares traded. The stock had previously closed at $55.56.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. DA Davidson cut their price target on Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Morgan Stanley lifted their target price on Brunswick from $64.00 to $65.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Roth Mkm lowered their price target on Brunswick from $91.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Robert W. Baird set a $90.00 price objective on shares of Brunswick in a report on Friday, January 31st. Finally, Citigroup reduced their target price on shares of Brunswick from $92.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Brunswick has a consensus rating of “Moderate Buy” and an average price target of $81.62.

Brunswick Price Performance

The firm has a market cap of $3.17 billion, a PE ratio of 25.27 and a beta of 1.54. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 0.63. The business’s fifty day moving average is $61.53 and its 200-day moving average is $71.36.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping 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 company posted $1.45 earnings per share. On average, research analysts predict that Brunswick Co. will post 4.19 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date was Monday, February 24th. This is a boost from Brunswick’s previous quarterly dividend of $0.42. Brunswick’s dividend payout ratio is currently 90.53%.

Insider Transactions at Brunswick

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Oak Thistle LLC purchased a new stake in shares of Brunswick in the fourth quarter worth about $368,000. Bank of New York Mellon Corp increased its holdings in Brunswick by 16.7% during the 4th quarter. Bank of New York Mellon Corp now owns 766,509 shares of the company’s stock worth $49,578,000 after acquiring an additional 109,728 shares during the period. American Century Companies Inc. lifted its stake in Brunswick by 2.9% in the 4th quarter. American Century Companies Inc. now owns 1,462,558 shares of the company’s stock worth $94,599,000 after purchasing an additional 41,583 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Brunswick in the 4th quarter valued at $2,827,000. Finally, Channing Capital Management LLC grew its position in shares of Brunswick by 10.9% during the 4th quarter. Channing Capital Management LLC now owns 1,025,123 shares of the company’s stock valued at $66,305,000 after purchasing an additional 100,412 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

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.