Engineers Gate Manager LP Makes New $396,000 Investment in Brunswick Co. (NYSE:BC)

Engineers Gate Manager LP bought a new position in shares of Brunswick Co. (NYSE:BC – Get Rating) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 6,045 shares of the company’s stock, valued at approximately $396,000.

Several other institutional investors have also recently bought and sold shares of BC. Steward Partners Investment Advisory LLC increased its stake in shares of Brunswick by 492.0% in the second quarter. Steward Partners Investment Advisory LLC now owns 444 shares of the company’s stock valued at $29,000 after buying an additional 369 shares during the period. International Assets Investment Management LLC increased its stake in shares of Brunswick by 10,038.0% in the third quarter. International Assets Investment Management LLC now owns 10,949 shares of the company’s stock valued at $38,000 after buying an additional 10,841 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Brunswick by 36.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 639 shares of the company’s stock valued at $42,000 after buying an additional 170 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Brunswick in the second quarter valued at approximately $46,000. Finally, Wipfli Financial Advisors LLC bought a new stake in Brunswick in the third quarter valued at approximately $50,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Brunswick Price Performance

Shares of NYSE:BC opened at $80.81 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.81 and a debt-to-equity ratio of 1.18. Brunswick Co. has a twelve month low of $61.89 and a twelve month high of $94.60. The stock’s 50 day moving average is $83.61 and its 200-day moving average is $75.77. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 8.99 and a beta of 1.53.

Brunswick (NYSE:BC – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.02. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.66 billion. Brunswick had a return on equity of 37.56% and a net margin of 9.94%. Brunswick’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.44 EPS. Sell-side analysts forecast that Brunswick Co. will post 10.36 EPS for the current fiscal year.

Brunswick Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Monday, February 27th will be given a $0.40 dividend. This is a positive change from Brunswick’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, February 24th. Brunswick’s dividend payout ratio is presently 17.80%.

Wall Street Analyst Weigh In

Several brokerages recently commented on BC. Truist Financial upped their target price on Brunswick from $95.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 3rd. B. Riley upped their target price on Brunswick from $88.00 to $108.00 and gave the company a “buy” rating in a report on Friday, February 3rd. Citigroup upped their target price on Brunswick from $104.00 to $106.00 and gave the company a “buy” rating in a report on Friday, February 3rd. Raymond James upped their target price on Brunswick from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Finally, DA Davidson upped their target price on Brunswick from $82.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, February 7th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.23.

Insider Activity at Brunswick

In other news, CFO Ryan M. Gwillim sold 5,710 shares of the firm’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $88.28, for a total transaction of $504,078.80. Following the completion of the sale, the chief financial officer now directly owns 28,522 shares of the company’s stock, valued at approximately $2,517,922.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Ryan M. Gwillim sold 5,710 shares of the firm’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $88.28, for a total transaction of $504,078.80. Following the completion of the sale, the chief financial officer now directly owns 28,522 shares of the company’s stock, valued at approximately $2,517,922.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Christopher F. Dekker sold 7,353 shares of the firm’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $88.29, for a total value of $649,196.37. Following the sale, the vice president now directly owns 41,455 shares of the company’s stock, valued at $3,660,061.95. The disclosure for this sale can be found here. In the last three months, insiders sold 13,234 shares of company stock valued at $1,167,542. 0.58% of the stock is owned by insiders.

About Brunswick

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Brunswick Corp. engages in the design, manufacture, and marketing of recreational marine products, including marine engines, boats, and parts and accessories for those products. It operates through the following segments: Propulsion, Parts and Accessories, Boat, and Corporate/Other. The Propulsion segment manufactures a full range of outboard, sterndrive, and inboard engines, as well as propulsion-related controls, propellers, and rigging parts and accessories.