Brunswick Co. (NYSE:BC) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in Brunswick Co. (NYSE:BC) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 766,509 shares of the company’s stock after purchasing an additional 109,728 shares during the quarter. Bank of New York Mellon Corp owned about 1.16% of Brunswick worth $49,578,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BC. Massachusetts Financial Services Co. MA boosted its holdings in Brunswick by 17.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock valued at $259,010,000 after purchasing an additional 452,116 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Brunswick by 7.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock valued at $124,705,000 after buying an additional 102,780 shares during the period. Victory Capital Management Inc. lifted its holdings in Brunswick by 13.5% in the third quarter. Victory Capital Management Inc. now owns 1,414,490 shares of the company’s stock valued at $118,563,000 after acquiring an additional 168,384 shares during the last quarter. Principal Financial Group Inc. grew its position in Brunswick by 2.7% in the third quarter. Principal Financial Group Inc. now owns 1,075,845 shares of the company’s stock worth $90,171,000 after acquiring an additional 28,781 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Brunswick by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 701,269 shares of the company’s stock worth $58,780,000 after acquiring an additional 1,765 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Brunswick Price Performance

Brunswick stock opened at $57.88 on Thursday. The company has a quick ratio of 0.63, a current ratio of 1.65 and a debt-to-equity ratio of 1.11. The firm’s 50-day simple moving average is $65.32 and its 200 day simple moving average is $74.42. Brunswick Co. has a 52 week low of $55.40 and a 52 week high of $96.65. The firm has a market capitalization of $3.81 billion, a PE ratio of 30.47 and a beta of 1.54.

Brunswick (NYSE:BC) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.18 by $0.06. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. During the same period last year, the firm earned $1.45 EPS. On average, equities research analysts predict that Brunswick Co. will post 4.19 EPS for the current fiscal year.

Brunswick Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 24th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.97%. This is a boost from Brunswick’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, February 24th. Brunswick’s payout ratio is 90.53%.

Insider Activity

In other news, Director Nancy E. Cooper sold 433 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $65.65, for a total transaction of $28,426.45. Following the sale, the director now owns 25,361 shares in the company, valued at $1,664,949.65. This trade represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Randall S. Altman sold 3,417 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total transaction of $215,988.57. Following the transaction, the senior vice president now owns 26,683 shares in the company, valued at approximately $1,686,632.43. The trade was a 11.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BC. Stifel Nicolaus decreased their target price on shares of Brunswick from $95.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Citigroup lowered their price objective on Brunswick from $92.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Benchmark dropped their price objective on Brunswick from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Morgan Stanley raised their price objective on shares of Brunswick from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, Roth Mkm lowered their price objective on shares of Brunswick from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.62.

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.