Lord Abbett & CO. LLC Purchases 74,061 Shares of Brunswick Co. (NYSE:BC)

Lord Abbett & CO. LLC raised its holdings in shares of Brunswick Co. (NYSE:BC - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 758,004 shares of the company's stock after buying an additional 74,061 shares during the quarter. Lord Abbett & CO. LLC owned about 1.15% of Brunswick worth $49,028,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Armstrong Advisory Group Inc. bought a new position in Brunswick in the fourth quarter valued at $39,000. Financial Perspectives Inc bought a new position in shares of Brunswick during the 4th quarter valued at about $42,000. KBC Group NV raised its holdings in shares of Brunswick by 42.8% during the 4th quarter. KBC Group NV now owns 2,892 shares of the company's stock valued at $187,000 after buying an additional 867 shares in the last quarter. Stevens Capital Management LP bought a new stake in Brunswick in the 4th quarter worth approximately $203,000. Finally, Tower Research Capital LLC TRC boosted its stake in Brunswick by 121.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,295 shares of the company's stock worth $213,000 after buying an additional 1,809 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Randall S. Altman sold 3,417 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total value of $215,988.57. Following the sale, the senior vice president now directly owns 26,683 shares of the company's stock, valued at $1,686,632.43. The trade was a 11.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Nancy E. Cooper sold 433 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $65.65, for a total value of $28,426.45. Following the transaction, the director now directly owns 25,361 shares of the company's stock, valued at approximately $1,664,949.65. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BC has been the subject of a number of recent research reports. Baird R W lowered shares of Brunswick from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Morgan Stanley boosted their price target on shares of Brunswick from $64.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. Jefferies Financial Group reduced their price objective on Brunswick from $64.00 to $45.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Robert W. Baird reissued a "neutral" rating and issued a $56.00 target price (down previously from $90.00) on shares of Brunswick in a research note on Friday, April 4th. Finally, Truist Financial dropped their target price on Brunswick from $85.00 to $60.00 and set a "buy" rating for the company in a report on Monday, April 14th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $71.00.

Brunswick Trading Up 1.3 %

NYSE BC traded up $0.58 during trading on Thursday, hitting $46.63. The company had a trading volume of 226,186 shares, compared to its average volume of 768,683. The company's fifty day moving average is $52.21 and its 200-day moving average is $65.90. Brunswick Co. has a one year low of $41.00 and a one year high of $87.65. The company has a current ratio of 1.65, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 24.56 and a beta of 1.42.

Brunswick (NYSE:BC - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.31. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.14 billion. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. Brunswick's revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.35 earnings per share. On average, sell-side analysts predict that Brunswick Co. will post 4.19 earnings per share for the current year.

Brunswick Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 24th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, February 24th. This is a positive change from Brunswick's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 3.69%. Brunswick's payout ratio is currently 142.15%.

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.