Pinebridge Investments L.P. Acquires 5,686 Shares of Brunswick Co. (NYSE:BC)

Pinebridge Investments L.P. grew its position in Brunswick Co. (NYSE:BC - Free Report) by 42.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,006 shares of the company's stock after purchasing an additional 5,686 shares during the period. Pinebridge Investments L.P.'s holdings in Brunswick were worth $1,229,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Armstrong Advisory Group Inc. bought a new position in shares of Brunswick during the 4th quarter worth approximately $39,000. Financial Perspectives Inc acquired a new position in Brunswick during the fourth quarter valued at approximately $42,000. KBC Group NV raised its stake in shares of Brunswick by 42.8% during the 4th quarter. KBC Group NV now owns 2,892 shares of the company's stock worth $187,000 after purchasing an additional 867 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of Brunswick in the fourth quarter valued at $203,000. Finally, Tower Research Capital LLC TRC increased its holdings in Brunswick by 121.7% during 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 during the last quarter. 99.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Baird R W cut shares of Brunswick from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. DA Davidson reiterated a "neutral" rating and set a $43.00 target price (down from $64.00) on shares of Brunswick in a research note on Monday. Jefferies Financial Group reduced their price objective on shares of Brunswick from $64.00 to $45.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. Robert W. Baird restated a "neutral" rating and set a $56.00 target price (down previously from $90.00) on shares of Brunswick in a research note on Friday, April 4th. Finally, Benchmark assumed coverage on shares of Brunswick in a report on Monday. They issued a "buy" rating and a $70.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $71.00.

Brunswick Price Performance

Shares of BC traded up $1.01 during trading hours on Friday, hitting $47.34. 923,168 shares of the company were exchanged, compared to its average volume of 773,265. The company has a quick ratio of 0.63, a current ratio of 1.65 and a debt-to-equity ratio of 1.11. Brunswick Co. has a fifty-two week low of $41.00 and a fifty-two week high of $87.65. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 24.92 and a beta of 1.42. The firm's fifty day moving average is $51.89 and its 200 day moving average is $65.65.

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

Brunswick Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were given a dividend of $0.43 per share. The ex-dividend date was Monday, February 24th. This represents a $1.72 dividend on an annualized basis and a yield of 3.63%. This is a boost from Brunswick's previous quarterly dividend of $0.42. Brunswick's dividend payout ratio is 142.15%.

Insider Buying and Selling

In other Brunswick news, SVP Randall S. Altman sold 3,417 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $63.21, for a total transaction of $215,988.57. Following the transaction, the senior vice president now owns 26,683 shares in the company, valued at approximately $1,686,632.43. This represents a 11.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Nancy E. Cooper sold 433 shares of Brunswick stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $65.65, for a total transaction of $28,426.45. Following the transaction, the director now owns 25,361 shares of the company's stock, valued at $1,664,949.65. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,279 shares of company stock valued at $264,475 over the last 90 days. Company 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.