Magnetar Financial LLC Acquires Shares of 12,842 Brunswick Co. (NYSE:BC)

Magnetar Financial LLC bought a new stake in Brunswick Co. (NYSE:BC) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 12,842 shares of the company’s stock, valued at approximately $935,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Baillie Gifford & Co. acquired a new position in Brunswick during the 1st quarter worth approximately $124,840,000. Norges Bank acquired a new position in shares of Brunswick during the fourth quarter worth $65,105,000. Lord Abbett & CO. LLC bought a new position in shares of Brunswick in the 1st quarter valued at $38,655,000. Swedbank AB acquired a new stake in shares of Brunswick during the 1st quarter valued at $19,304,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Brunswick by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 7,266,170 shares of the company’s stock valued at $701,331,000 after acquiring an additional 160,531 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

Analyst Ratings Changes

BC has been the topic of a number of research reports. B. Riley reduced their target price on shares of Brunswick from $108.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Roth Mkm reissued a “buy” rating and issued a $94.00 price objective on shares of Brunswick in a research note on Thursday, July 25th. Citigroup lowered their target price on Brunswick from $100.00 to $88.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Benchmark reiterated a “buy” rating and issued a $100.00 price target on shares of Brunswick in a research report on Friday, July 26th. Finally, Stifel Nicolaus lowered their price objective on Brunswick from $97.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.23.

Brunswick Trading Up 1.6 %

Shares of Brunswick stock opened at $82.82 on Wednesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.70. The stock has a market capitalization of $5.60 billion, a P/E ratio of 15.39 and a beta of 1.51. Brunswick Co. has a 52-week low of $66.47 and a 52-week high of $99.68. The stock’s 50-day simple moving average is $78.22 and its 200 day simple moving average is $80.66.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Brunswick had a net margin of 5.92% and a return on equity of 23.46%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the firm posted $2.35 earnings per share. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, research analysts anticipate that Brunswick Co. will post 5.26 EPS for the current year.

Brunswick Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st were given a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.68 annualized dividend and a yield of 2.03%. Brunswick’s payout ratio is currently 31.23%.

Insider Buying and Selling

In related news, Director Nancy E. Cooper sold 358 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.34, for a total transaction of $29,119.72. Following the transaction, the director now owns 23,877 shares in the company, valued at approximately $1,942,155.18. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.81% of the stock is owned by insiders.

Brunswick Profile

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.