Texas Permanent School Fund Corp Boosts Stake in Brunswick Co. (NYSE:BC)

Texas Permanent School Fund Corp lifted its holdings in Brunswick Co. (NYSE:BC) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,224 shares of the company’s stock after buying an additional 779 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Brunswick were worth $5,813,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Raymond James Trust N.A. raised its holdings in Brunswick by 4.4% during the fourth quarter. Raymond James Trust N.A. now owns 2,863 shares of the company’s stock worth $277,000 after purchasing an additional 120 shares during the last quarter. Cubic Asset Management LLC raised its holdings in Brunswick by 4.4% during the fourth quarter. Cubic Asset Management LLC now owns 4,185 shares of the company’s stock worth $405,000 after purchasing an additional 175 shares during the last quarter. Rise Advisors LLC raised its holdings in Brunswick by 249.5% during the first quarter. Rise Advisors LLC now owns 325 shares of the company’s stock worth $31,000 after purchasing an additional 232 shares during the last quarter. Principal Securities Inc. acquired a new position in Brunswick during the fourth quarter worth $28,000. Finally, Johnson Financial Group Inc. acquired a new position in Brunswick during the fourth quarter worth $30,000. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Brunswick Trading Up 1.4 %

BC stock traded up $1.06 during trading on Friday, reaching $77.14. 93,730 shares of the stock traded hands, compared to its average volume of 728,301. The business’s 50 day moving average price is $76.95 and its 200-day moving average price is $84.36. Brunswick Co. has a 52-week low of $66.47 and a 52-week high of $99.68. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.68 and a quick ratio of 0.75. The firm has a market capitalization of $5.21 billion, a PE ratio of 14.15 and a beta of 1.52.

Brunswick (NYSE:BC) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the firm posted $2.57 EPS. Brunswick’s revenue was down 21.7% on a year-over-year basis. As a group, sell-side analysts forecast that Brunswick Co. will post 7.26 earnings per share for the current year.

Brunswick Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, May 13th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Friday, May 10th. Brunswick’s dividend payout ratio (DPR) is presently 31.23%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. B. Riley reduced their price objective on Brunswick from $108.00 to $97.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup cut their price target on Brunswick from $100.00 to $88.00 and set a “buy” rating for the company in a report on Monday. Morgan Stanley cut their price target on Brunswick from $91.00 to $86.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. BNP Paribas reissued a “neutral” rating and issued a $82.00 price target (down from $94.00) on shares of Brunswick in a report on Monday, April 15th. Finally, DA Davidson reissued a “neutral” rating and issued a $77.00 price target on shares of Brunswick in a report on Friday, March 15th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.31.

Insider Transactions at Brunswick

In related news, Director Nancy E. Cooper sold 357 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total value of $28,681.38. Following the transaction, the director now owns 23,211 shares in the company, valued at $1,864,771.74. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Brunswick news, Director Nancy E. Cooper sold 357 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total transaction of $28,681.38. Following the sale, the director now owns 23,211 shares in the company, valued at $1,864,771.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Brenna Preisser sold 1,225 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $82.09, for a total value of $100,560.25. Following the sale, the vice president now owns 58,076 shares in the company, valued at approximately $4,767,458.84. The disclosure for this sale can be found here. Company insiders own 0.81% 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.