Brunswick Co. (NYSE:BC) shares were up 14.2% on Wednesday . The company traded as high as $31.55 and last traded at $35.55, 555,944 shares were traded during mid-day trading. A decline of 50% from the average daily volume of 1,114,849 shares. The stock had previously closed at $31.14.
A number of analysts have recently issued reports on BC shares. Wells Fargo & Co reiterated a “buy” rating on shares of Brunswick in a report on Friday, December 6th. B. Riley lowered their price objective on shares of Brunswick from $80.00 to $53.00 and set a “buy” rating on the stock in a report on Monday. Royal Bank of Canada downgraded shares of Brunswick from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $70.00 to $44.00 in a report on Monday, March 16th. Raymond James upgraded shares of Brunswick from a “market perform” rating to an “outperform” rating and set a $74.00 price objective on the stock in a report on Tuesday, February 18th. Finally, Zacks Investment Research downgraded shares of Brunswick from a “buy” rating to a “hold” rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $60.39.
The company has a quick ratio of 0.74, a current ratio of 1.62 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of -24.51, a P/E/G ratio of 0.59 and a beta of 1.81. The stock’s fifty day moving average price is $50.52 and its 200-day moving average price is $55.84.
The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Tuesday, February 25th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.96 dividend on an annualized basis and a yield of 2.56%. Brunswick’s payout ratio is 22.17%.
In related news, VP Christopher F. Dekker sold 3,025 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $64.73, for a total transaction of $195,808.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. increased its holdings in Brunswick by 788.9% during the fourth quarter. Macquarie Group Ltd. now owns 24,000 shares of the company’s stock worth $1,440,000 after buying an additional 21,300 shares during the last quarter. Franklin Resources Inc. bought a new position in Brunswick during the fourth quarter worth $43,581,000. Nuveen Asset Management LLC boosted its position in Brunswick by 39.2% during the fourth quarter. Nuveen Asset Management LLC now owns 772,049 shares of the company’s stock worth $46,307,000 after purchasing an additional 217,470 shares during the period. Norges Bank bought a new position in Brunswick during the fourth quarter worth $58,376,000. Finally, Kennedy Capital Management Inc. boosted its position in Brunswick by 13.1% during the fourth quarter. Kennedy Capital Management Inc. now owns 104,207 shares of the company’s stock worth $6,250,000 after purchasing an additional 12,080 shares during the period. Institutional investors and hedge funds own 94.40% of the company’s stock.
About Brunswick (NYSE:BC)
Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, electrical systems, service parts, and lubricants; and integrated propulsion systems to the recreational and commercial marine markets, as well as parts and accessories.
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