Oak Thistle LLC Increases Stake in Brunswick Corporation (NYSE:BC)

Oak Thistle LLC increased its holdings in Brunswick Corporation (NYSE:BC - Free Report) by 77.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,095 shares of the company's stock after acquiring an additional 4,399 shares during the quarter. Oak Thistle LLC's holdings in Brunswick were worth $544,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Brunswick in the first quarter valued at approximately $1,754,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Brunswick in the 1st quarter worth $2,285,000. Gries Financial LLC increased its position in Brunswick by 4.8% during the 1st quarter. Gries Financial LLC now owns 13,169 shares of the company's stock valued at $709,000 after buying an additional 599 shares in the last quarter. Allianz Asset Management GmbH raised its stake in Brunswick by 125.2% in the first quarter. Allianz Asset Management GmbH now owns 10,047 shares of the company's stock valued at $541,000 after buying an additional 5,585 shares during the last quarter. Finally, Peterson Wealth Services grew its stake in shares of Brunswick by 2.5% during the first quarter. Peterson Wealth Services now owns 13,599 shares of the company's stock worth $732,000 after acquiring an additional 331 shares during the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Brunswick

In other Brunswick news, VP Christopher F. Dekker sold 2,092 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $58.47, for a total transaction of $122,319.24. Following the completion of the transaction, the vice president directly owned 44,466 shares in the company, valued at approximately $2,599,927.02. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.81% of the company's stock.

Brunswick Stock Performance

BC stock traded up $1.16 during midday trading on Friday, hitting $60.55. 1,131,486 shares of the stock traded hands, compared to its average volume of 904,333. The stock's fifty day simple moving average is $56.37 and its 200-day simple moving average is $56.62. The firm has a market cap of $3.98 billion, a P/E ratio of 97.65 and a beta of 1.27. Brunswick Corporation has a 1-year low of $41.00 and a 1-year high of $87.65. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.68 and a quick ratio of 0.65.

Brunswick (NYSE:BC - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.27. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.25 billion. Brunswick had a return on equity of 10.73% and a net margin of 0.82%. Brunswick's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.80 EPS. On average, analysts expect that Brunswick Corporation will post 4.19 earnings per share for the current year.

Brunswick Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.84%. Brunswick's dividend payout ratio (DPR) is 142.15%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BC shares. Roth Capital upped their price objective on shares of Brunswick from $60.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday. Benchmark initiated coverage on shares of Brunswick in a report on Monday, April 28th. They issued a "buy" rating and a $70.00 price target for the company. Citigroup reissued a "buy" rating and set a $68.00 price objective (up from $61.00) on shares of Brunswick in a report on Monday, June 16th. Truist Financial lowered their price target on Brunswick from $85.00 to $60.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Baird R W downgraded Brunswick from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Brunswick presently has a consensus rating of "Moderate Buy" and an average target price of $69.46.

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.