Brunswick (NYSE:BC) Reaches New 52-Week Low - Here's What Happened

Brunswick Co. (NYSE:BC - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $54.97 and last traded at $55.48, with a volume of 267264 shares trading hands. The stock had previously closed at $56.53.

Analysts Set New Price Targets

Several research firms have issued reports on BC. B. Riley upgraded Brunswick to a "hold" rating in a research note on Wednesday, February 12th. Roth Mkm dropped their price objective on Brunswick from $91.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, January 24th. Morgan Stanley raised their target price on Brunswick from $64.00 to $65.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. Robert W. Baird set a $90.00 target price on Brunswick in a research note on Friday, January 31st. Finally, Stifel Nicolaus lowered their target price on Brunswick from $95.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $81.62.

Brunswick Stock Performance

The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65. The business has a 50 day moving average price of $64.19 and a two-hundred day moving average price of $73.25. The company has a market cap of $3.83 billion, a P/E ratio of 30.60 and a beta of 1.54.

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Brunswick (NYSE:BC - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $0.24 earnings per share for the quarter, beating 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 period last year, the firm posted $1.45 earnings per share. On average, sell-side analysts anticipate that Brunswick Co. will post 4.19 earnings per share for the current year.

Brunswick Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were given a dividend of $0.43 per share. This is a positive change from Brunswick's previous quarterly dividend of $0.42. The ex-dividend date was Monday, February 24th. This represents a $1.72 dividend on an annualized basis and a yield of 2.96%. Brunswick's dividend payout ratio is presently 90.53%.

Insider Buying and Selling at Brunswick

In other Brunswick news, SVP Randall S. Altman sold 3,417 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total transaction of $215,988.57. Following the transaction, the senior vice president now owns 26,683 shares in the company, valued at approximately $1,686,632.43. This represents a 11.35 % 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 433 shares of the company's stock in a transaction that occurred 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 transaction, the director now owns 25,361 shares in the company, valued at $1,664,949.65. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Oak Thistle LLC purchased a new stake in shares of Brunswick in the 4th quarter worth approximately $368,000. Bank of New York Mellon Corp lifted its holdings in shares of Brunswick by 16.7% during the 4th quarter. Bank of New York Mellon Corp now owns 766,509 shares of the company's stock valued at $49,578,000 after buying an additional 109,728 shares during the period. Channing Capital Management LLC lifted its holdings in shares of Brunswick by 10.9% during the 4th quarter. Channing Capital Management LLC now owns 1,025,123 shares of the company's stock valued at $66,305,000 after buying an additional 100,412 shares during the period. Global Alpha Capital Management Ltd. raised its holdings in Brunswick by 47.5% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 240,128 shares of the company's stock worth $20,128,000 after purchasing an additional 77,340 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Brunswick by 7.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company's stock worth $124,705,000 after purchasing an additional 102,780 shares during the period. 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.