Brunswick (NYSE:BC) Reaches New 12-Month Low Following Insider Selling

Brunswick Co. (NYSE:BC) shares hit a new 52-week low during mid-day trading on Thursday following insider selling activity. The company traded as low as $61.23 and last traded at $61.28, with a volume of 23622 shares trading hands. The stock had previously closed at $62.47.

Specifically, SVP Randall S. Altman sold 3,417 shares of the stock in a transaction dated Wednesday, February 26th. The shares were 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 of the company’s stock, valued at $1,686,632.43. This represents a 11.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Citigroup cut their price objective on shares of Brunswick from $92.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Benchmark cut their price objective on shares of Brunswick from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. DA Davidson cut their price objective on shares of Brunswick from $80.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 22nd. Truist Financial cut their price objective on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Stifel Nicolaus dropped their price target 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. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.62.

Brunswick Stock Performance

The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65. The stock has a market cap of $4.00 billion, a PE ratio of 32.01 and a beta of 1.54. The company’s 50 day simple moving average is $65.78 and its 200 day simple moving average is $74.79.

Brunswick (NYSE:BC) last posted its quarterly earnings data 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 business posted $1.45 earnings per share. Analysts expect that Brunswick Co. will post 4.19 earnings per share for the current year.

Brunswick Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 24th will be paid a $0.43 dividend. This is a positive change from Brunswick’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.72 annualized dividend and a yield of 2.83%. Brunswick’s dividend payout ratio (DPR) is 90.53%.

Institutional Investors Weigh In On Brunswick

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oak Thistle LLC bought a new stake in shares of Brunswick in the 4th quarter worth approximately $368,000. Global Alpha Capital Management Ltd. raised its holdings in shares of Brunswick by 47.5% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 240,128 shares of the company’s stock worth $20,128,000 after purchasing an additional 77,340 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Brunswick by 7.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock worth $124,705,000 after purchasing an additional 102,780 shares during the period. Barclays PLC raised its holdings in shares of Brunswick by 78.6% in the 3rd quarter. Barclays PLC now owns 118,189 shares of the company’s stock worth $9,907,000 after purchasing an additional 52,024 shares during the period. Finally, Markel Group Inc. bought a new stake in shares of Brunswick in the 3rd quarter worth approximately $1,173,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.

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.