Retirement Systems of Alabama Trims Position in Brunswick Co. (NYSE:BC)

Retirement Systems of Alabama decreased its holdings in Brunswick Co. (NYSE:BC) by 1.7% in the third quarter, HoldingsChannel.com reports. The fund owned 173,245 shares of the company’s stock after selling 2,949 shares during the period. Retirement Systems of Alabama’s holdings in Brunswick were worth $14,521,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BC. Franklin Resources Inc. raised its position in shares of Brunswick by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 233,128 shares of the company’s stock worth $19,394,000 after acquiring an additional 5,604 shares in the last quarter. Sanctuary Advisors LLC grew its stake in Brunswick by 12.1% in the third quarter. Sanctuary Advisors LLC now owns 12,808 shares of the company’s stock worth $1,055,000 after purchasing an additional 1,387 shares during the period. Barclays PLC raised its holdings in Brunswick by 78.6% in the third quarter. Barclays PLC now owns 118,189 shares of the company’s stock worth $9,907,000 after purchasing an additional 52,024 shares in the last quarter. MML Investors Services LLC lifted its position in Brunswick by 30.7% during the third quarter. MML Investors Services LLC now owns 7,119 shares of the company’s stock valued at $597,000 after buying an additional 1,671 shares during the period. Finally, Orion Portfolio Solutions LLC boosted its holdings in shares of Brunswick by 26.5% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,087 shares of the company’s stock valued at $594,000 after buying an additional 1,484 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Brunswick Stock Performance

Shares of BC opened at $73.59 on Monday. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 18.31 and a beta of 1.50. The business’s fifty day simple moving average is $80.67 and its two-hundred day simple moving average is $78.50. Brunswick Co. has a 12 month low of $69.05 and a 12 month high of $99.68. The company has a current ratio of 1.97, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17.

Brunswick Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 20th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.68 annualized dividend and a dividend yield of 2.28%. Brunswick’s dividend payout ratio (DPR) is presently 41.79%.

Analyst Ratings Changes

A number of research analysts recently issued reports on BC shares. Benchmark reissued a “buy” rating and set a $100.00 price target on shares of Brunswick in a research report on Friday, October 25th. B. Riley lowered shares of Brunswick from a “buy” rating to a “neutral” rating and lowered their target price for the company from $95.00 to $88.00 in a report on Tuesday, November 26th. Finally, Citigroup upped their price target on Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.54.

Insider Buying and Selling

In other Brunswick news, Director Joseph W. Mcclanathan sold 4,745 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $80.14, for a total value of $380,264.30. Following the transaction, the director now directly owns 19,218 shares of the company’s stock, valued at approximately $1,540,130.52. This trade represents a 19.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David M. Foulkes sold 23,829 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $80.22, for a total value of $1,911,562.38. Following the sale, the chief executive officer now owns 251,094 shares of the company’s stock, valued at approximately $20,142,760.68. This represents a 8.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,940 shares of company stock worth $2,321,176. 0.81% of the stock is owned by corporate insiders.

Brunswick Company 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.