Retirement Systems of Alabama Acquires 42,089 Shares of Brunswick Co. (NYSE:BC)

Retirement Systems of Alabama grew its stake in Brunswick Co. (NYSE:BC - Free Report) by 30.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 178,984 shares of the company's stock after buying an additional 42,089 shares during the quarter. Retirement Systems of Alabama owned 0.26% of Brunswick worth $17,317,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Commonwealth Equity Services LLC boosted its holdings in Brunswick by 3.4% during the third quarter. Commonwealth Equity Services LLC now owns 16,503 shares of the company's stock worth $1,304,000 after purchasing an additional 535 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Brunswick by 5.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 3,658 shares of the company's stock worth $289,000 after acquiring an additional 205 shares in the last quarter. Tectonic Advisors LLC raised its position in Brunswick by 10.3% during the third quarter. Tectonic Advisors LLC now owns 13,036 shares of the company's stock worth $1,030,000 after acquiring an additional 1,222 shares in the last quarter. FinTrust Capital Advisors LLC raised its position in Brunswick by 40.6% during the third quarter. FinTrust Capital Advisors LLC now owns 1,101 shares of the company's stock worth $87,000 after acquiring an additional 318 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in Brunswick by 2.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,488 shares of the company's stock worth $434,000 after acquiring an additional 155 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on BC. B. Riley raised shares of Brunswick from a "neutral" rating to a "buy" rating and upped their price target for the stock from $100.00 to $108.00 in a research report on Tuesday, February 20th. Morgan Stanley dropped their price objective on shares of Brunswick from $91.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Friday, April 26th. DA Davidson reissued a "neutral" rating and issued a $77.00 price objective on shares of Brunswick in a research report on Friday, March 15th. Truist Financial dropped their price objective on shares of Brunswick from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Friday, February 2nd. Finally, Stifel Nicolaus increased their price objective on shares of 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 seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $92.83.

Brunswick Price Performance

Shares of BC traded down $0.31 during mid-day trading on Wednesday, reaching $80.33. The company had a trading volume of 616,589 shares, compared to its average volume of 746,475. The company's 50 day simple moving average is $88.81 and its 200 day simple moving average is $85.04. Brunswick Co. has a 1-year low of $66.47 and a 1-year high of $99.68. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.75 and a current ratio of 1.68. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 14.93 and a beta of 1.56.

Brunswick (NYSE:BC - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.35 earnings per share for the quarter, missing analysts' consensus estimates of $1.36 by ($0.01). Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the business posted $2.57 earnings per share. The company's revenue for the quarter was down 21.7% on a year-over-year basis. Analysts expect that Brunswick Co. will post 7.39 EPS for the current year.

Brunswick Increases Dividend

The firm 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. This represents a $1.68 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Friday, February 23rd. This is a positive change from Brunswick's previous quarterly dividend of $0.40. Brunswick's dividend payout ratio (DPR) is 31.23%.

Insider Activity at Brunswick

In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The shares were 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 in the company, valued at approximately $23,748,450.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Brunswick news, Director Nancy E. Cooper sold 357 shares of the firm's stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total transaction of $28,681.38. Following the completion of the transaction, the director now owns 23,211 shares in the company, valued at approximately $1,864,771.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David M. Foulkes sold 35,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 272,626 shares of the company's stock, valued at approximately $23,748,450.86. The disclosure for this sale can be found here. Insiders sold a total of 53,053 shares of company stock worth $4,602,880 in the last quarter. 0.81% of the stock is owned by 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.