Channing Capital Management LLC Buys 100,412 Shares of Brunswick Co. (NYSE:BC)

Channing Capital Management LLC grew its position in shares of Brunswick Co. (NYSE:BC - Free Report) by 10.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,025,123 shares of the company's stock after purchasing an additional 100,412 shares during the quarter. Brunswick makes up 1.8% of Channing Capital Management LLC's holdings, making the stock its 29th biggest holding. Channing Capital Management LLC owned approximately 1.55% of Brunswick worth $66,305,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Armstrong Advisory Group Inc. bought a new position in shares of Brunswick during the fourth quarter worth about $39,000. Financial Perspectives Inc bought a new position in shares of Brunswick during the fourth quarter worth about $42,000. Avior Wealth Management LLC raised its position in shares of Brunswick by 1,073.7% during the third quarter. Avior Wealth Management LLC now owns 669 shares of the company's stock worth $56,000 after acquiring an additional 612 shares during the last quarter. Covestor Ltd raised its position in shares of Brunswick by 669.0% during the third quarter. Covestor Ltd now owns 969 shares of the company's stock worth $81,000 after acquiring an additional 843 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Brunswick by 21.7% during the third quarter. KBC Group NV now owns 2,025 shares of the company's stock worth $170,000 after acquiring an additional 361 shares during the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Brunswick Stock Up 2.6 %

Shares of NYSE:BC traded up $1.44 during trading on Friday, hitting $57.66. The stock had a trading volume of 638,370 shares, compared to its average volume of 685,249. Brunswick Co. has a 12 month low of $54.97 and a 12 month high of $96.65. The company has a market capitalization of $3.80 billion, a PE ratio of 30.35 and a beta of 1.54. The firm's fifty day moving average is $64.33 and its 200 day moving average is $73.51. The company has a quick ratio of 0.63, a current ratio of 1.65 and a debt-to-equity ratio of 1.11.

Brunswick (NYSE:BC - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the company posted $1.45 earnings per share. Analysts anticipate that Brunswick Co. will post 4.19 EPS for the current fiscal year.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.43 per share. This is a boost from Brunswick's previous quarterly dividend of $0.42. The ex-dividend date is Monday, February 24th. This represents a $1.72 dividend on an annualized basis and a yield of 2.98%. Brunswick's payout ratio is presently 90.53%.

Insider Buying and Selling at Brunswick

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BC shares. Citigroup lowered their price objective on Brunswick from $92.00 to $85.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Stifel Nicolaus lowered their target price on Brunswick from $95.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. DA Davidson lowered their target price on Brunswick from $80.00 to $60.00 and set a "neutral" rating for the company in a report on Wednesday, January 22nd. Truist Financial lowered their target price on Brunswick from $90.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Finally, B. Riley upgraded Brunswick to a "hold" rating in a report on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.