Polar Asset Management Partners Inc. Takes $1.89 Million Position in Brunswick Co. (NYSE:BC)

Polar Asset Management Partners Inc. bought a new position in Brunswick Co. (NYSE:BC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 29,200 shares of the company's stock, valued at approximately $1,889,000.

Other hedge funds have also made changes to their positions in the company. Barclays PLC increased its stake in shares of Brunswick by 78.6% in the third quarter. Barclays PLC now owns 118,189 shares of the company's stock valued at $9,907,000 after buying an additional 52,024 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Brunswick by 5.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,883 shares of the company's stock worth $316,000 after acquiring an additional 236 shares during the last quarter. Oak Thistle LLC acquired a new stake in Brunswick in the 4th quarter valued at about $368,000. Armstrong Advisory Group Inc. bought a new position in shares of Brunswick in the fourth quarter worth about $39,000. Finally, Perpetual Ltd acquired a new position in shares of Brunswick during the fourth quarter worth approximately $323,000. Institutional investors and hedge funds own 99.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Benchmark began coverage on shares of Brunswick in a research report on Monday, April 28th. They issued a "buy" rating and a $70.00 price objective for the company. BMO Capital Markets dropped their target price on Brunswick from $75.00 to $65.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. DA Davidson reiterated a "neutral" rating and issued a $43.00 price target (down previously from $64.00) on shares of Brunswick in a report on Monday, April 28th. B. Riley raised Brunswick to a "hold" rating in a report on Wednesday, February 12th. Finally, Baird R W downgraded shares of Brunswick from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $71.31.

Brunswick Stock Up 2.4%

Shares of NYSE BC opened at $53.24 on Friday. Brunswick Co. has a 52-week low of $41.00 and a 52-week high of $87.65. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65. The stock has a market cap of $3.50 billion, a P/E ratio of 28.02 and a beta of 1.28. The firm has a 50 day moving average price of $49.69 and a 200 day moving average price of $63.20.

Brunswick (NYSE:BC - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.31. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same period last year, the firm posted $1.35 earnings per share. The business's quarterly revenue was down 10.5% compared to the same quarter last year. Analysts expect that Brunswick Co. will post 4.19 EPS for the current year.

Brunswick Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, May 19th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.72 annualized dividend and a dividend yield of 3.23%. Brunswick's dividend payout ratio (DPR) is currently 142.15%.

Insiders Place Their Bets

In related news, SVP Randall S. Altman sold 3,417 shares of the firm'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 sale, the senior vice president now directly owns 26,683 shares in the company, valued at $1,686,632.43. This trade represents a 11.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate 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.

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