9,649 Shares in Brunswick Corporation (NYSE:BC) Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas purchased a new position in shares of Brunswick Corporation (NYSE:BC - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,649 shares of the company's stock, valued at approximately $520,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP acquired a new position in Brunswick during the fourth quarter valued at approximately $45,000. UMB Bank n.a. grew its position in shares of Brunswick by 695.7% during the first quarter. UMB Bank n.a. now owns 732 shares of the company's stock worth $39,000 after acquiring an additional 640 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Brunswick by 171.6% during the first quarter. First Horizon Advisors Inc. now owns 755 shares of the company's stock worth $41,000 after acquiring an additional 477 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Brunswick by 33.3% in the first quarter. Fifth Third Bancorp now owns 1,078 shares of the company's stock worth $58,000 after purchasing an additional 269 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Brunswick by 59.3% in the first quarter. GAMMA Investing LLC now owns 1,276 shares of the company's stock worth $69,000 after purchasing an additional 475 shares during the period. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BC has been the subject of several research analyst reports. Robert W. Baird upped their price objective on shares of Brunswick from $56.00 to $60.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Citigroup reiterated a "buy" rating and issued a $68.00 target price (up previously from $61.00) on shares of Brunswick in a report on Monday, June 16th. Baird R W downgraded Brunswick from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Truist Financial lowered their price target on Brunswick from $85.00 to $60.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, DA Davidson reissued a "neutral" rating and issued a $43.00 price objective (down from $64.00) on shares of Brunswick in a research report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Brunswick has a consensus rating of "Moderate Buy" and an average target price of $70.00.

Brunswick Trading Up 2.2%

BC stock traded up $1.27 during midday trading on Thursday, reaching $59.62. The stock had a trading volume of 701,648 shares, compared to its average volume of 807,728. The company has a quick ratio of 0.65, a current ratio of 1.57 and a debt-to-equity ratio of 1.12. Brunswick Corporation has a twelve month low of $41.00 and a twelve month high of $87.65. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 49.28 and a beta of 1.27. The business has a fifty day simple moving average of $55.00 and a two-hundred day simple moving average of $56.81.

Brunswick (NYSE:BC - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.14 billion. During the same quarter last year, the firm earned $1.35 EPS. Brunswick's revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, research analysts expect that Brunswick Corporation will post 4.19 EPS for the current fiscal year.

Brunswick Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 20th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Wednesday, August 20th. Brunswick's payout ratio is presently 142.15%.

Insider Buying and Selling at Brunswick

In related news, VP Christopher F. Dekker sold 2,092 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $58.47, for a total transaction of $122,319.24. Following the transaction, the vice president directly owned 44,466 shares of the company's stock, valued at approximately $2,599,927.02. The trade was a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.81% of the company's stock.

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.