Brunswick Corporation (BC) Shares Bought by Convergence Investment Partners LLC

Convergence Investment Partners LLC boosted its stake in Brunswick Corporation (NYSE:BC) by 97.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 20,680 shares of the company’s stock after buying an additional 10,180 shares during the period. Convergence Investment Partners LLC’s holdings in Brunswick Corporation were worth $1,297,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Brunswick Corporation during the first quarter valued at $495,000. Punch & Associates Investment Management Inc. raised its stake in shares of Brunswick Corporation by 0.8% in the first quarter. Punch & Associates Investment Management Inc. now owns 84,614 shares of the company’s stock valued at $5,178,000 after buying an additional 635 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Brunswick Corporation by 66.3% in the first quarter. Russell Investments Group Ltd. now owns 222,171 shares of the company’s stock valued at $13,592,000 after buying an additional 88,584 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Brunswick Corporation by 76.8% in the first quarter. Janney Montgomery Scott LLC now owns 10,188 shares of the company’s stock valued at $624,000 after buying an additional 4,427 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its stake in shares of Brunswick Corporation by 15.6% in the first quarter. First Citizens Bank & Trust Co. now owns 6,057 shares of the company’s stock valued at $371,000 after buying an additional 817 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

Brunswick Corporation (NYSE BC) opened at 55.00 on Wednesday. Brunswick Corporation has a one year low of $42.02 and a one year high of $63.82. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 17.45 and a beta of 1.81. The stock’s 50 day moving average price is $59.47 and its 200-day moving average price is $59.11.

Brunswick Corporation (NYSE:BC) last posted its quarterly earnings data on Thursday, July 27th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.02. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. Brunswick Corporation had a return on equity of 23.35% and a net margin of 6.13%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 earnings per share. On average, equities research analysts anticipate that Brunswick Corporation will post $4.05 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 22nd will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, August 18th. Brunswick Corporation’s dividend payout ratio is currently 20.95%.

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BC has been the topic of several analyst reports. Stifel Nicolaus increased their target price on Brunswick Corporation from $66.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. BMO Capital Markets reaffirmed a “buy” rating and issued a $72.00 target price on shares of Brunswick Corporation in a research report on Thursday, July 13th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $65.00 target price on shares of Brunswick Corporation in a research report on Wednesday, July 12th. Zacks Investment Research raised Brunswick Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Thursday, June 29th. Finally, BidaskClub raised Brunswick Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $65.82.

In other Brunswick Corporation news, Chairman Mark D. Schwabero sold 29,552 shares of the business’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $63.74, for a total value of $1,883,644.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider William Metzger sold 15,301 shares of the business’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $62.50, for a total value of $956,312.50. The disclosure for this sale can be found here. In the last three months, insiders sold 51,439 shares of company stock worth $3,258,968. Insiders own 1.00% of the company’s stock.

Brunswick Corporation Company Profile

Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.