Amalgamated Bank Trims Holdings in Brunswick Co. (NYSE:BC)

Amalgamated Bank reduced its stake in shares of Brunswick Co. (NYSE:BC) by 5.3% in the fourth quarter, Holdings Channel reports. The firm owned 48,207 shares of the company’s stock after selling 2,685 shares during the period. Amalgamated Bank’s holdings in Brunswick were worth $4,664,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Brunswick by 140.4% in the third quarter. FMR LLC now owns 3,435,357 shares of the company’s stock worth $271,393,000 after acquiring an additional 2,006,578 shares in the last quarter. Victory Capital Management Inc. grew its position in Brunswick by 127.6% during the 3rd quarter. Victory Capital Management Inc. now owns 866,226 shares of the company’s stock worth $68,432,000 after purchasing an additional 485,588 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Brunswick by 71.0% during the fourth quarter. Jennison Associates LLC now owns 806,396 shares of the company’s stock worth $78,019,000 after buying an additional 334,851 shares during the period. Invesco Ltd. increased its position in shares of Brunswick by 110.2% in the 3rd quarter. Invesco Ltd. now owns 357,833 shares of the company’s stock valued at $28,269,000 after acquiring an additional 187,572 shares during the period. Finally, Van Berkom & Associates Inc. raised its stake in Brunswick by 25.7% in the 3rd quarter. Van Berkom & Associates Inc. now owns 899,980 shares of the company’s stock worth $71,098,000 after acquiring an additional 184,088 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Insiders Place Their Bets

In other Brunswick news, Director Nancy E. Cooper sold 357 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total value of $28,681.38. Following the transaction, the director now owns 23,211 shares of the company’s stock, valued at $1,864,771.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Brunswick news, VP Christopher F. Dekker sold 6,234 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction of $526,960.02. Following the transaction, the vice president now directly owns 35,176 shares in the company, valued at $2,973,427.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nancy E. Cooper sold 357 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total value of $28,681.38. Following the transaction, the director now owns 23,211 shares of the company’s stock, valued at $1,864,771.74. The disclosure for this sale can be found here. Insiders sold a total of 53,053 shares of company stock valued at $4,602,880 over the last quarter. 0.81% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BC. Stifel Nicolaus increased their price objective on Brunswick from $88.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. BNP Paribas restated a “neutral” rating and set a $82.00 price objective (down from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Truist Financial cut their price objective on shares of Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Morgan Stanley lowered their price target on shares of Brunswick from $91.00 to $86.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Finally, DA Davidson reissued a “neutral” rating and issued a $77.00 price objective on shares of Brunswick in a report on Friday, March 15th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.83.

Brunswick Stock Performance

Shares of Brunswick stock opened at $81.69 on Wednesday. Brunswick Co. has a one year low of $66.47 and a one year high of $99.68. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 15.18 and a beta of 1.60. The business’s 50 day moving average price is $88.18 and its 200 day moving average price is $85.30. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.75 and a current ratio of 1.68.

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The company’s revenue for the quarter was down 21.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.57 EPS. On average, research analysts predict that Brunswick Co. will post 7.39 EPS for the current year.

Brunswick Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, May 13th will be given a $0.42 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.68 annualized dividend and a yield of 2.06%. Brunswick’s payout ratio is 31.23%.

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.