Bank of New York Mellon Corp Boosts Stock Position in Brunswick Co. (NYSE:BC)

Bank of New York Mellon Corp increased its stake in shares of Brunswick Co. (NYSE:BC - Free Report) by 16.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 766,509 shares of the company's stock after buying an additional 109,728 shares during the quarter. Bank of New York Mellon Corp owned 1.16% of Brunswick worth $49,578,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of BC. Skylands Capital LLC increased its position in Brunswick by 38.5% in the 4th quarter. Skylands Capital LLC now owns 21,575 shares of the company's stock valued at $1,395,000 after acquiring an additional 6,000 shares in the last quarter. Hudson Edge Investment Partners Inc. increased its holdings in shares of Brunswick by 20.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 7,574 shares of the company's stock valued at $490,000 after purchasing an additional 1,310 shares in the last quarter. Financial Perspectives Inc acquired a new stake in shares of Brunswick in the fourth quarter valued at approximately $42,000. New York State Common Retirement Fund raised its position in Brunswick by 7.7% in the 4th quarter. New York State Common Retirement Fund now owns 292,552 shares of the company's stock worth $18,922,000 after purchasing an additional 20,871 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Brunswick during the 4th quarter worth $2,211,000. Institutional investors and hedge funds own 99.34% of the company's stock.

Insider Buying and Selling

In other news, Director Nancy E. Cooper sold 433 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $65.65, for a total value of $28,426.45. Following the completion of the sale, the director now owns 25,361 shares in the company, valued at $1,664,949.65. This represents a 1.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Randall S. Altman sold 3,417 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $63.21, for a total transaction of $215,988.57. Following the completion of the sale, the senior vice president now owns 26,683 shares of the company's stock, valued at approximately $1,686,632.43. This represents a 11.35 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.

Remove Ads

Brunswick Trading Up 0.7 %

Shares of Brunswick stock traded up $0.43 during midday trading on Friday, reaching $59.18. The company had a trading volume of 687,043 shares, compared to its average volume of 682,300. The stock has a fifty day moving average price of $65.01 and a 200 day moving average price of $74.19. Brunswick Co. has a fifty-two week low of $55.40 and a fifty-two week high of $96.65. The firm has a market cap of $3.90 billion, a PE ratio of 31.15 and a beta of 1.54. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 0.63.

Brunswick (NYSE:BC - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.06. Brunswick had a return on equity of 15.41% and a net margin of 2.48%. During the same quarter in the prior year, the company posted $1.45 earnings per share. On average, equities analysts anticipate that Brunswick Co. will post 4.19 earnings per share for the current year.

Brunswick Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 24th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.91%. This is a positive change from Brunswick's previous quarterly dividend of $0.42. The ex-dividend date is Monday, February 24th. Brunswick's dividend payout ratio is presently 90.53%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BC. Roth Mkm lowered their price objective on Brunswick from $91.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, January 24th. Morgan Stanley lifted their price target on shares of Brunswick from $64.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. DA Davidson cut their price objective on shares of Brunswick from $80.00 to $60.00 and set a "neutral" rating on the stock in a report on Wednesday, January 22nd. Stifel Nicolaus lowered their target price on shares of Brunswick from $95.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. Finally, B. Riley upgraded shares of Brunswick to a "hold" rating in a research report on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $81.62.

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.