Advisors Asset Management Inc. raised its holdings in Brunswick Co. (NYSE:BC) by 254.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,560 shares of the company’s stock after buying an additional 5,430 shares during the quarter. Advisors Asset Management Inc.’s holdings in Brunswick were worth $423,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in shares of Brunswick in the third quarter worth about $3,394,000. Capital Management Associates NY purchased a new position in shares of Brunswick in the third quarter worth about $280,000. Wellington Shields Capital Management LLC purchased a new position in shares of Brunswick in the third quarter worth about $725,000. Advisor Group Inc. raised its stake in shares of Brunswick by 108.6% in the third quarter. Advisor Group Inc. now owns 6,896 shares of the company’s stock worth $386,000 after purchasing an additional 3,590 shares during the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of Brunswick by 94.6% in the third quarter. Retirement Systems of Alabama now owns 224,074 shares of the company’s stock worth $12,541,000 after purchasing an additional 108,943 shares during the last quarter. Institutional investors own 92.66% of the company’s stock.
Shares of Brunswick Co. (NYSE BC) opened at $55.98 on Wednesday. The company has a market capitalization of $4,792.25, a PE ratio of 14.50, a P/E/G ratio of 0.87 and a beta of 1.90. Brunswick Co. has a 1-year low of $48.04 and a 1-year high of $63.82. The company has a current ratio of 1.81, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 21st will be issued a $0.19 dividend. This is a positive change from Brunswick’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Monday, November 20th. Brunswick’s dividend payout ratio (DPR) is presently 24.52%.
Several research analysts have recently issued reports on the company. BMO Capital Markets reduced their price objective on Brunswick from $68.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, October 27th. KeyCorp restated a “buy” rating and issued a $62.00 price objective on shares of Brunswick in a research note on Thursday, August 31st. Aegis reaffirmed a “buy” rating and set a $73.00 target price on shares of Brunswick in a report on Thursday, August 17th. ValuEngine lowered Brunswick from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $68.00 target price on shares of Brunswick in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. Brunswick presently has an average rating of “Buy” and an average price target of $62.50.
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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.
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