Handelsbanken Fonder AB Has $11.89 Million Position in Brunswick Co. (NYSE:BC)

Handelsbanken Fonder AB cut its holdings in Brunswick Co. (NYSE:BC) by 15.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,900 shares of the company’s stock after selling 25,100 shares during the quarter. Handelsbanken Fonder AB owned about 0.21% of Brunswick worth $11,894,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Inspire Advisors LLC raised its stake in shares of Brunswick by 7.9% in the 1st quarter. Inspire Advisors LLC now owns 2,268 shares of the company’s stock valued at $219,000 after acquiring an additional 166 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Brunswick by 7.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,905 shares of the company’s stock valued at $280,000 after purchasing an additional 197 shares during the period. Comerica Bank lifted its stake in shares of Brunswick by 0.6% in the first quarter. Comerica Bank now owns 35,548 shares of the company’s stock worth $3,431,000 after buying an additional 205 shares during the last quarter. Rise Advisors LLC boosted its holdings in shares of Brunswick by 249.5% during the 1st quarter. Rise Advisors LLC now owns 325 shares of the company’s stock worth $31,000 after buying an additional 232 shares during the period. Finally, J.Safra Asset Management Corp grew its stake in Brunswick by 77.1% in the 1st quarter. J.Safra Asset Management Corp now owns 602 shares of the company’s stock valued at $58,000 after buying an additional 262 shares during the last quarter. 99.34% of the stock is owned by institutional investors.

Insider Activity at Brunswick

In other news, Director Nancy E. Cooper sold 358 shares of Brunswick stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $81.34, for a total transaction of $29,119.72. Following the completion of the transaction, the director now directly owns 23,877 shares in the company, valued at approximately $1,942,155.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.81% of the stock is owned by company insiders.

Analyst Ratings Changes

BC has been the subject of a number of research analyst reports. Citigroup boosted their target price on shares of Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. B. Riley lowered their target price on Brunswick from $108.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Truist Financial cut their price target on Brunswick from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, July 8th. Northcoast Research raised Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Monday, July 29th. Finally, Benchmark reaffirmed a “buy” rating and set a $100.00 target price on shares of Brunswick in a research report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $89.23.

Brunswick Stock Performance

Shares of NYSE:BC opened at $81.04 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18. Brunswick Co. has a 1-year low of $66.47 and a 1-year high of $99.68. The stock has a market capitalization of $5.48 billion, a P/E ratio of 15.06 and a beta of 1.51. The business has a 50-day moving average price of $78.89 and a two-hundred day moving average price of $80.23.

Brunswick (NYSE:BC) last issued its earnings results on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). Brunswick had a net margin of 5.92% and a return on equity of 23.46%. The business 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 EPS. The business’s revenue was down 15.2% on a year-over-year basis. Equities analysts predict that Brunswick Co. will post 5.26 earnings per share for the current year.

Brunswick Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 21st were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.68 annualized dividend and a yield of 2.07%. Brunswick’s dividend payout ratio (DPR) is presently 31.23%.

Brunswick Company 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.