Centerstone Investors LLC Increases Stake in Brunswick Co. (NYSE:BC)

Centerstone Investors LLC grew its stake in Brunswick Co. (NYSE:BC) by 88.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 27,309 shares of the company’s stock after buying an additional 12,784 shares during the quarter. Brunswick accounts for approximately 2.6% of Centerstone Investors LLC’s portfolio, making the stock its 16th biggest position. Centerstone Investors LLC’s holdings in Brunswick were worth $2,239,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Gotham Asset Management LLC boosted its stake in shares of Brunswick by 286.9% in the 1st quarter. Gotham Asset Management LLC now owns 20,067 shares of the company’s stock valued at $1,645,000 after buying an additional 14,881 shares during the period. BRYN MAWR TRUST Co raised its position in shares of Brunswick by 2.1% during the 1st quarter. BRYN MAWR TRUST Co now owns 45,265 shares of the company’s stock worth $3,712,000 after acquiring an additional 941 shares in the last quarter. Nations Financial Group Inc. IA ADV acquired a new stake in shares of Brunswick during the 1st quarter worth about $210,000. Two Sigma Investments LP raised its position in shares of Brunswick by 60.0% during the 1st quarter. Two Sigma Investments LP now owns 32,924 shares of the company’s stock worth $2,700,000 after acquiring an additional 12,345 shares in the last quarter. Finally, Atom Investors LP acquired a new stake in shares of Brunswick during the 1st quarter worth about $280,000. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Brunswick Price Performance

BC stock traded down $1.65 during midday trading on Monday, hitting $74.74. 591,268 shares of the stock were exchanged, compared to its average volume of 597,975. The stock’s 50-day moving average price is $83.82 and its 200-day moving average price is $82.57. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 10.04 and a beta of 1.56. Brunswick Co. has a fifty-two week low of $64.55 and a fifty-two week high of $93.15. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.85 and a current ratio of 1.92.

Brunswick (NYSE:BC) last released its quarterly earnings results on Thursday, July 27th. The company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.03. Brunswick had a return on equity of 33.86% and a net margin of 8.21%. The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the firm posted $2.82 earnings per share. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. Research analysts predict that Brunswick Co. will post 9.5 earnings per share for the current year.

Brunswick Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 23rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $1.60 annualized dividend and a yield of 2.14%. Brunswick’s payout ratio is currently 21.02%.

Wall Street Analyst Weigh In

BC has been the topic of several research analyst reports. Citigroup cut their target price on Brunswick from $106.00 to $100.00 in a research report on Monday, June 26th. JPMorgan Chase & Co. downgraded shares of Brunswick from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $109.00 to $79.00 in a research report on Monday. Truist Financial dropped their price objective on shares of Brunswick from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, July 14th. StockNews.com assumed coverage on Brunswick in a report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, BMO Capital Markets reduced their price objective on Brunswick from $122.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, July 28th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.31.

Brunswick Profile

Brunswick Corporation designs, manufactures, and markets recreation products worldwide. It operates through three segments: Propulsion, Parts & Accessories, and Boat. The Propulsion segment provides outboard, sterndrive, and inboard engines for independent boat builders and governments through marine dealers and distributors, specialty marine retailers, and marine service centers; and propulsion-related controls, rigging, and propellers to original equipment manufacturers and aftermarket retailers, distributors, and distribution businesses.