Penserra Capital Management LLC Invests $715,000 in Brunswick Corporation (NYSE:BC)

Penserra Capital Management LLC bought a new position in shares of Brunswick Corporation (NYSE:BC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,296 shares of the company's stock, valued at approximately $715,000.

Several other institutional investors and hedge funds have also made changes to their positions in BC. Bank of New York Mellon Corp grew its stake in shares of Brunswick by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 770,820 shares of the company's stock worth $41,509,000 after acquiring an additional 4,311 shares during the last quarter. Lightrock Netherlands B.V. raised its stake in Brunswick by 62.1% in the 1st quarter. Lightrock Netherlands B.V. now owns 409,015 shares of the company's stock valued at $22,062,000 after purchasing an additional 156,710 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in Brunswick by 38.8% in the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 284,475 shares of the company's stock valued at $15,319,000 after purchasing an additional 79,578 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Brunswick in the 1st quarter valued at $520,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of Brunswick by 171.6% during the 1st quarter. First Horizon Advisors Inc. now owns 755 shares of the company's stock worth $41,000 after purchasing an additional 477 shares during the period. 99.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BC shares. Jefferies Financial Group decreased their target price on Brunswick from $64.00 to $45.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. DA Davidson restated a "neutral" rating and issued a $43.00 price target (down from $64.00) on shares of Brunswick in a research note on Monday, April 28th. Benchmark assumed coverage on Brunswick in a research report on Monday, April 28th. They set a "buy" rating and a $70.00 target price on the stock. Truist Financial decreased their price objective on Brunswick from $85.00 to $60.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, BMO Capital Markets decreased their price objective on Brunswick from $75.00 to $65.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.00.

Brunswick Stock Down 1.6%

Shares of NYSE:BC traded down $0.96 during mid-day trading on Monday, hitting $59.61. 582,888 shares of the company traded hands, compared to its average volume of 956,515. The firm has a market cap of $3.92 billion, a P/E ratio of 49.27 and a beta of 1.27. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 1.57. Brunswick Corporation has a 52-week low of $41.00 and a 52-week high of $87.65. The firm's 50 day simple moving average is $54.23 and its 200 day simple moving average is $56.82.

Brunswick (NYSE:BC - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.25 by $0.31. Brunswick had a return on equity of 12.88% and a net margin of 1.62%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the business posted $1.35 EPS. The company's revenue was down 10.5% on a year-over-year basis. On average, equities analysts anticipate that Brunswick Corporation will post 4.19 EPS for the current year.

Brunswick Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, May 19th were issued a dividend of $0.43 per share. The ex-dividend date was Monday, May 19th. This represents a $1.72 annualized dividend and a yield of 2.89%. Brunswick's dividend payout ratio is presently 142.15%.

Insider Transactions at Brunswick

In other news, VP Christopher F. Dekker sold 2,092 shares of Brunswick stock in a transaction that occurred on Wednesday, June 11th. The stock was 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 in the company, valued at approximately $2,599,927.02. This trade represents a 4.49% decrease in their position. The sale 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.

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.