Federated Hermes Inc. Cuts Stake in Brunswick Co. (NYSE:BC)

Federated Hermes Inc. trimmed its position in shares of Brunswick Co. (NYSE:BC - Free Report) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 802,292 shares of the company's stock after selling 19,179 shares during the quarter. Federated Hermes Inc. owned 1.15% of Brunswick worth $77,622,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Valley National Advisers Inc. acquired a new position in shares of Brunswick during the third quarter worth approximately $25,000. Fred Alger Management LLC purchased a new stake in Brunswick in the 1st quarter valued at $40,000. Rockefeller Capital Management L.P. raised its position in Brunswick by 104.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 520 shares of the company's stock valued at $36,000 after buying an additional 266 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Brunswick in the 2nd quarter valued at $46,000. Finally, Covestor Ltd raised its position in Brunswick by 200.3% in the 1st quarter. Covestor Ltd now owns 961 shares of the company's stock valued at $78,000 after buying an additional 641 shares during the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Brunswick Stock Performance

Shares of NYSE BC traded up $1.85 during mid-day trading on Friday, reaching $83.93. 885,691 shares of the company's stock were exchanged, compared to its average volume of 740,688. The firm has a 50-day moving average price of $89.34 and a two-hundred day moving average price of $84.51. Brunswick Co. has a 52 week low of $66.47 and a 52 week high of $99.68. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 14.11 and a beta of 1.56. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.43 and a quick ratio of 0.59.

Brunswick (NYSE:BC - Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.21). Brunswick had a return on equity of 29.78% and a net margin of 6.57%. The firm had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.44 billion. During the same period last year, the business posted $1.99 EPS. The company's revenue was down 14.0% compared to the same quarter last year. Analysts predict that Brunswick Co. will post 7.5 EPS for the current year.

Brunswick Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a $0.42 dividend. The ex-dividend date was Friday, February 23rd. This represents a $1.68 annualized dividend and a yield of 2.00%. This is a positive change from Brunswick's previous quarterly dividend of $0.40. Brunswick's dividend payout ratio (DPR) is 28.24%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BC. Roth Mkm increased their price target on Brunswick from $85.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, February 2nd. B. Riley raised Brunswick from a "neutral" rating to a "buy" rating and increased their price target for the company from $100.00 to $108.00 in a research report on Tuesday, February 20th. Raymond James lowered Brunswick from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 4th. DA Davidson reissued a "neutral" rating and issued a $77.00 price target on shares of Brunswick in a research report on Friday, March 15th. Finally, Stifel Nicolaus increased their price target on Brunswick from $88.00 to $97.00 and gave the company a "buy" rating in a research report on Wednesday, January 17th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Brunswick currently has an average rating of "Moderate Buy" and a consensus target price of $92.69.

Insider Buying and Selling

In other Brunswick news, EVP John G. Buelow sold 2,426 shares of Brunswick stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $87.12, for a total transaction of $211,353.12. Following the completion of the transaction, the executive vice president now owns 14,199 shares of the company's stock, valued at approximately $1,237,016.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of Brunswick stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the completion of the transaction, the chief executive officer now owns 272,626 shares of the company's stock, valued at approximately $23,748,450.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John G. Buelow sold 2,426 shares of Brunswick stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $87.12, for a total value of $211,353.12. Following the transaction, the executive vice president now directly owns 14,199 shares of the company's stock, valued at approximately $1,237,016.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,696 shares of company stock valued at $4,574,199. 0.81% of the stock is owned by insiders.

Brunswick Company 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.