CCM Investment Group LLC Purchases Shares of 8,858 Brunswick Corporation (NYSE:BC)

Key Points

• CCM Investment Group LLC acquired 8,858 shares of Brunswick Corporation (NYSE:BC), valued at approximately $474,000, marking a significant new investment in the company.
• Analysts have set a consensus rating of "Moderate Buy" for Brunswick Corporation, with price targets ranging from $45.00 to $70.00 based on various research reports.
• The company announced a quarterly dividend of $0.43 per share, translating to an annual yield of 3.0%, with a planned payment date on September 15th.

CCM Investment Group LLC purchased a new stake in Brunswick Corporation (NYSE:BC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 8,858 shares of the company's stock, valued at approximately $474,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its position in shares of Brunswick by 0.6% in the fourth quarter. Deutsche Bank AG now owns 28,031 shares of the company's stock valued at $1,813,000 after purchasing an additional 160 shares during the period. Fifth Third Bancorp raised its position in shares of Brunswick by 33.3% in the first quarter. Fifth Third Bancorp now owns 1,078 shares of the company's stock valued at $58,000 after purchasing an additional 269 shares during the period. Peterson Wealth Services raised its position in shares of Brunswick by 2.5% in the first quarter. Peterson Wealth Services now owns 13,599 shares of the company's stock valued at $732,000 after purchasing an additional 331 shares during the period. Snowden Capital Advisors LLC raised its position in shares of Brunswick by 6.4% in the fourth quarter. Snowden Capital Advisors LLC now owns 6,297 shares of the company's stock valued at $407,000 after purchasing an additional 378 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Brunswick by 59.3% in the first quarter. GAMMA Investing LLC now owns 1,276 shares of the company's stock valued at $69,000 after purchasing an additional 475 shares during the period. Institutional investors and hedge funds own 99.34% of the company's stock.

Analysts Set New Price Targets

BC has been the topic of several research analyst reports. BMO Capital Markets dropped their price objective on shares of Brunswick from $75.00 to $65.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Jefferies Financial Group dropped their price objective on shares of Brunswick from $64.00 to $45.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Citigroup reissued a "buy" rating and issued a $68.00 price objective (up from $61.00) on shares of Brunswick in a research report on Monday, June 16th. Benchmark initiated coverage on shares of Brunswick in a research report on Monday, April 28th. They issued a "buy" rating and a $70.00 target price for the company. Finally, Roth Capital boosted their target price on shares of Brunswick from $60.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $68.25.

Brunswick Trading Down 0.6%

BC opened at $56.87 on Monday. Brunswick Corporation has a twelve month low of $41.00 and a twelve month high of $87.65. The company has a 50-day simple moving average of $57.88 and a 200 day simple moving average of $55.92. The company has a quick ratio of 0.70, a current ratio of 1.68 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 91.73 and a beta of 1.28.

Brunswick (NYSE:BC - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.27. Brunswick had a net margin of 0.82% and a return on equity of 10.73%. The business had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter in the prior year, the business posted $1.80 earnings per share. Brunswick's revenue was up .2% compared to the same quarter last year. Analysts predict that Brunswick Corporation will post 4.19 EPS for the current fiscal year.

Brunswick Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 annualized dividend and a yield of 3.0%. Brunswick's dividend payout ratio is currently 277.42%.

Insiders Place Their Bets

In other news, VP Christopher F. Dekker sold 2,092 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $58.47, for a total value of $122,319.24. Following the completion of the transaction, the vice president owned 44,466 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.81% of the stock is owned by corporate insiders.

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.

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