LSV Asset Management Has $18.35 Million Stake in Brunswick Corporation (NYSE:BC)

Key Points

• LSV Asset Management reduced its stake in Brunswick Corporation by 16.7%, now owning 340,700 shares valued at approximately $18.35 million.
• Brunswick recently declared a quarterly dividend of $0.43 per share, with a dividend yield of 2.9% and a payout ratio of 277.42%.
• The company's stock has a consensus rating of "Moderate Buy" among analysts, with a target price of $68.25.

LSV Asset Management lowered its holdings in Brunswick Corporation (NYSE:BC - Free Report) by 16.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 340,700 shares of the company's stock after selling 68,208 shares during the quarter. LSV Asset Management owned 0.52% of Brunswick worth $18,347,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Brunswick during the fourth quarter worth approximately $30,097,000. Pictet Asset Management Holding SA raised its holdings in Brunswick by 12.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 9,422 shares of the company's stock worth $609,000 after purchasing an additional 1,080 shares during the period. Franklin Resources Inc. raised its holdings in Brunswick by 1.9% in the fourth quarter. Franklin Resources Inc. now owns 237,595 shares of the company's stock worth $15,368,000 after purchasing an additional 4,467 shares during the period. ExodusPoint Capital Management LP bought a new stake in shares of Brunswick during the fourth quarter worth $736,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Brunswick during the fourth quarter worth $737,000. Institutional investors own 99.34% of the company's stock.

Insider Activity

In other news, VP Christopher F. Dekker sold 2,092 shares of the firm's stock in a transaction dated 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 sale, the vice president owned 44,466 shares in the company, valued at approximately $2,599,927.02. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.81% of the company's stock.

Brunswick Stock Performance

BC stock traded up $0.10 during trading hours on Friday, reaching $57.30. The stock had a trading volume of 183,283 shares, compared to its average volume of 965,218. The stock has a market capitalization of $3.74 billion, a PE ratio of 92.22 and a beta of 1.28. 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 50-day simple moving average of $57.76 and a 200 day simple moving average of $56.17. Brunswick Corporation has a fifty-two week low of $41.00 and a fifty-two week high of $87.65.

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

Brunswick Dividend Announcement

The business 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 dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, August 20th. Brunswick's dividend payout ratio (DPR) is currently 277.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. DA Davidson increased their price objective on shares of Brunswick from $43.00 to $59.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. 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. Truist Financial decreased their target price 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. BMO Capital Markets decreased their target price on shares of Brunswick from $75.00 to $65.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, Robert W. Baird raised their target price on shares of Brunswick from $56.00 to $60.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Brunswick presently has an average rating of "Moderate Buy" and an average target price of $68.25.

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.