Brunswick (NYSE:BC) Hits New 1-Year Low - Here's Why

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Citigroup increased their price objective on Brunswick from $92.00 to $101.00 and gave the company a "buy" rating in a research note on Friday, September 27th. Benchmark reissued a "buy" rating and issued a $100.00 price target on shares of Brunswick in a report on Friday, October 25th. Finally, B. Riley downgraded shares of Brunswick from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $95.00 to $88.00 in a research note on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Brunswick presently has a consensus rating of "Moderate Buy" and an average price target of $88.54.

Brunswick Stock Down 4.8 %

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

Brunswick Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Wednesday, November 20th. Brunswick's dividend payout ratio (DPR) is currently 41.79%.

Insider Activity at Brunswick

In related news, CEO David M. Foulkes sold 23,829 shares of Brunswick stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $80.22, for a total transaction of $1,911,562.38. Following the sale, the chief executive officer now owns 251,094 shares of the company's stock, valued at approximately $20,142,760.68. This trade represents a 8.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nancy E. Cooper sold 366 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.19, for a total transaction of $29,349.54. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,940 shares of company stock worth $2,321,176. 0.81% of the stock is owned by company insiders.

Institutional Trading of Brunswick

Hedge funds have recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Brunswick by 36.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,952 shares of the company's stock valued at $288,000 after purchasing an additional 1,047 shares during the last quarter. Blue Trust Inc. purchased a new stake in Brunswick during the 2nd quarter valued at $129,000. Fifth Third Bancorp lifted its position in Brunswick by 47.0% in the second quarter. Fifth Third Bancorp now owns 1,511 shares of the company's stock worth $110,000 after buying an additional 483 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in Brunswick during the second quarter valued at $456,000. Finally, Baillie Gifford & Co. raised its stake 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 acquiring an additional 1,137,568 shares during the period. 99.34% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.