Levin Capital Strategies L.P. Buys 13,421 Shares of Brunswick Corporation (NYSE:BC)

Key Points

• Levin Capital Strategies L.P. increased its stake in Brunswick Corporation by 14.7%, acquiring an additional 13,421 shares in the first quarter, which brought its total holdings to 104,925 shares worth approximately $5.65 million.
• Brunswick Corporation recently announced a quarterly dividend of $0.43 per share, representing a 2.9% yield, with the ex-dividend date set for August 20th; however, its payout ratio is unusually high at 277.42%.
• Analyst ratings for Brunswick Corporation show a mix, with six analysts recommending a "hold" and seven a "buy," indicating a current average rating of "Moderate Buy" with an average price target of $68.25.

Levin Capital Strategies L.P. increased its stake in shares of Brunswick Corporation (NYSE:BC - Free Report) by 14.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,925 shares of the company's stock after acquiring an additional 13,421 shares during the quarter. Levin Capital Strategies L.P. owned approximately 0.16% of Brunswick worth $5,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Deutsche Bank AG grew its holdings in Brunswick by 0.6% in the fourth quarter. Deutsche Bank AG now owns 28,031 shares of the company's stock worth $1,813,000 after purchasing an additional 160 shares during the period. Fifth Third Bancorp boosted its position in shares of Brunswick by 33.3% in the 1st quarter. Fifth Third Bancorp now owns 1,078 shares of the company's stock worth $58,000 after purchasing an additional 269 shares in the last quarter. Peterson Wealth Services boosted its position in shares of Brunswick by 2.5% in the 1st quarter. Peterson Wealth Services now owns 13,599 shares of the company's stock worth $732,000 after purchasing an additional 331 shares in the last quarter. Snowden Capital Advisors LLC increased its position in Brunswick by 6.4% during the 4th quarter. Snowden Capital Advisors LLC now owns 6,297 shares of the company's stock valued at $407,000 after buying an additional 378 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Brunswick by 59.3% during the first quarter. GAMMA Investing LLC now owns 1,276 shares of the company's stock valued at $69,000 after acquiring an additional 475 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company's stock.

Insider Buying and Selling at Brunswick

In related 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 sale, the vice president directly owned 44,466 shares of the company's stock, valued at $2,599,927.02. This represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.81% of the company's stock.

Brunswick Price Performance

Shares of NYSE BC traded down $1.41 during midday trading on Thursday, reaching $57.11. 862,705 shares of the stock traded hands, compared to its average volume of 1,035,454. The company's 50 day moving average is $57.76 and its 200 day moving average is $56.17. Brunswick Corporation has a one year low of $41.00 and a one 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 0.70. The stock has a market capitalization of $3.73 billion, a PE ratio of 92.11 and a beta of 1.28.

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

Brunswick Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 20th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $1.72 annualized dividend and a dividend yield of 3.0%. Brunswick's dividend payout ratio is currently 277.42%.

Analyst Ratings Changes

A number of analysts have weighed in on BC shares. DA Davidson raised their price objective on shares of Brunswick from $43.00 to $59.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. BMO Capital Markets cut their target price on Brunswick from $75.00 to $65.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Benchmark assumed coverage on shares of Brunswick in a research report on Monday, April 28th. They set a "buy" rating and a $70.00 price objective on the stock. Jefferies Financial Group reduced their price objective on Brunswick from $64.00 to $45.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. Finally, Roth Capital raised their price objective on shares of Brunswick from $60.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Brunswick has a consensus rating of "Moderate Buy" and an average price target of $68.25.

Brunswick 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.