Commerce Bank Makes New Investment in Brunswick Co. (NYSE:BC)

Commerce Bank bought a new position in shares of Brunswick Co. (NYSE:BC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,455 shares of the company's stock, valued at approximately $418,000.

Several other institutional investors and hedge funds have also made changes to their positions in BC. Armstrong Advisory Group Inc. acquired a new position in shares of Brunswick in the fourth quarter valued at approximately $39,000. Financial Perspectives Inc acquired a new position in Brunswick in the 4th quarter valued at $42,000. KBC Group NV raised its position in Brunswick by 42.8% during the 4th quarter. KBC Group NV now owns 2,892 shares of the company's stock worth $187,000 after buying an additional 867 shares during the last quarter. Stevens Capital Management LP acquired a new stake in shares of Brunswick in the 4th quarter worth $203,000. Finally, Sterling Capital Management LLC raised its holdings in Brunswick by 52.0% during the fourth quarter. Sterling Capital Management LLC now owns 4,001 shares of the company's stock worth $259,000 after purchasing an additional 1,369 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Nancy E. Cooper sold 433 shares of Brunswick stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $65.65, for a total transaction of $28,426.45. Following the transaction, the director now owns 25,361 shares in the company, valued at approximately $1,664,949.65. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $215,988.57. Following the completion of the sale, the senior vice president now directly owns 26,683 shares of the company's stock, valued at approximately $1,686,632.43. The trade was a 11.35 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. Morgan Stanley raised their price target on Brunswick from $64.00 to $65.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. Robert W. Baird restated a "neutral" rating and set a $56.00 target price (down from $90.00) on shares of Brunswick in a research report on Friday, April 4th. Citigroup cut their price target on shares of Brunswick from $92.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Truist Financial reduced their price target on shares of Brunswick from $85.00 to $60.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, BMO Capital Markets cut their price target on Brunswick from $75.00 to $65.00 and set an "outperform" rating for the company in a research note on Friday. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $71.00.

Brunswick Stock Down 1.2 %

Shares of BC stock traded down $0.54 on Tuesday, reaching $45.96. 119,331 shares of the company's stock traded hands, compared to its average volume of 765,068. The business's 50 day moving average price is $52.89 and its two-hundred day moving average price is $66.17. 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 company has a market capitalization of $3.03 billion, a P/E ratio of 24.19 and a beta of 1.42. Brunswick Co. has a 12-month low of $41.00 and a 12-month high of $87.65.

Brunswick (NYSE:BC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.31. Brunswick had a return on equity of 15.41% and a net margin of 2.48%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the company earned $1.35 earnings per share. The company's quarterly revenue was down 10.5% compared to the same quarter last year. On average, equities analysts forecast that Brunswick Co. will post 4.19 earnings per share for the current year.

Brunswick Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 24th were given a $0.43 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.72 dividend on an annualized basis and a yield of 3.74%. This is an increase from Brunswick's previous quarterly dividend of $0.42. Brunswick's dividend payout ratio (DPR) is 142.15%.

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.