Brunswick (NYSE:BC) Reaches New 12-Month Low – Should You Sell?

Brunswick Co. (NYSE:BC) reached a new 52-week low during trading on Wednesday . The company traded as low as $68.23 and last traded at $68.55, with a volume of 619884 shares. The stock had previously closed at $71.42.

Wall Street Analyst Weigh In

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

Brunswick Stock Performance

The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 1.97. The stock has a market cap of $4.48 billion, a PE ratio of 16.91 and a beta of 1.50. The firm has a fifty day moving average price of $80.50 and a 200 day moving average price of $78.44.

Brunswick Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th were issued 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 2.47%. Brunswick’s dividend payout ratio (DPR) is currently 41.79%.

Insider Buying and Selling

In other news, CEO David M. Foulkes sold 23,829 shares of the company’s stock in a transaction on 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 directly owns 251,094 shares of the company’s stock, valued at $20,142,760.68. This represents a 8.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nancy E. Cooper sold 366 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.19, for a total transaction of $29,349.54. Following the transaction, the director now directly owns 24,557 shares of the company’s stock, valued at approximately $1,969,225.83. This trade represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,940 shares of company stock worth $2,321,176 in the last three months. Corporate insiders own 0.81% of the company’s stock.

Institutional Trading of Brunswick

A number of hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. grew its position in shares of Brunswick by 88.0% in the second quarter. Baillie Gifford & Co. now owns 2,430,983 shares of the company’s stock valued at $176,903,000 after purchasing an additional 1,137,568 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Brunswick by 17.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock valued at $259,010,000 after acquiring an additional 452,116 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Brunswick by 1,120.5% in the third quarter. Janus Henderson Group PLC now owns 354,631 shares of the company’s stock valued at $29,725,000 after acquiring an additional 325,574 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Brunswick by 50.2% in the third quarter. Lord Abbett & CO. LLC now owns 683,943 shares of the company’s stock worth $57,328,000 after acquiring an additional 228,662 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in Brunswick by 447.5% in the 3rd quarter. New York State Common Retirement Fund now owns 271,681 shares of the company’s stock valued at $22,772,000 after purchasing an additional 222,062 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

About Brunswick

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.