Brunswick Co. (NYSE:BC) Shares Purchased by Channing Capital Management LLC

by · The Markets Daily

Channing Capital Management LLC boosted its holdings in shares of Brunswick Co. (NYSE:BC – Free Report) by 10.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,025,123 shares of the company’s stock after purchasing an additional 100,412 shares during the period. Brunswick comprises approximately 1.8% of Channing Capital Management LLC’s investment portfolio, making the stock its 29th biggest holding. Channing Capital Management LLC owned approximately 1.55% of Brunswick worth $66,305,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. acquired a new stake in shares of Brunswick during the 4th quarter worth approximately $39,000. Financial Perspectives Inc purchased a new stake in Brunswick during the fourth quarter worth $42,000. Avior Wealth Management LLC grew its position in Brunswick by 1,073.7% during the third quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock valued at $56,000 after buying an additional 612 shares during the period. Covestor Ltd increased its holdings in Brunswick by 669.0% in the third quarter. Covestor Ltd now owns 969 shares of the company’s stock valued at $81,000 after buying an additional 843 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Brunswick by 21.7% in the third quarter. KBC Group NV now owns 2,025 shares of the company’s stock worth $170,000 after acquiring an additional 361 shares during the period. 99.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BC shares. Stifel Nicolaus dropped their target price on Brunswick from $95.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. DA Davidson dropped their price objective on Brunswick from $80.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd. Truist Financial reduced their target price on Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley lifted their price target on shares of Brunswick from $64.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Finally, B. Riley raised shares of Brunswick to a “hold” rating in a report on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brunswick presently has an average rating of “Moderate Buy” and an average price target of $81.62.

Check Out Our Latest Report on Brunswick

Insider Activity

In other news, Director Nancy E. Cooper sold 433 shares of Brunswick stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $65.65, for a total transaction of $28,426.45. Following the sale, the director now owns 25,361 shares of the company’s stock, valued at approximately $1,664,949.65. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Randall S. Altman sold 3,417 shares of the 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 completion of the transaction, the senior vice president now owns 26,683 shares of the company’s stock, valued at $1,686,632.43. The trade was a 11.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

Brunswick Stock Performance

BC opened at $58.82 on Tuesday. The firm has a market capitalization of $3.87 billion, a PE ratio of 30.96 and a beta of 1.54. The company has a current ratio of 1.65, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11. Brunswick Co. has a twelve month low of $55.40 and a twelve month high of $96.65. The firm’s 50-day moving average price is $64.90 and its 200 day moving average price is $74.04.

Brunswick (NYSE:BC – Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.06. Brunswick had a return on equity of 15.41% and a net margin of 2.48%. During the same quarter in the previous year, the company posted $1.45 EPS. As a group, sell-side analysts expect that Brunswick Co. will post 4.19 EPS for the current fiscal year.

Brunswick Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Monday, February 24th. This is a positive change from Brunswick’s previous quarterly dividend of $0.42. Brunswick’s payout ratio is currently 90.53%.

Brunswick Profile

(Free Report)

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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