Lord Abbett & CO. LLC Buys 228,662 Shares of Brunswick Co. (NYSE:BC)

Lord Abbett & CO. LLC lifted its holdings in shares of Brunswick Co. (NYSE:BC - Free Report) by 50.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 683,943 shares of the company's stock after acquiring an additional 228,662 shares during the quarter. Lord Abbett & CO. LLC owned 1.04% of Brunswick worth $57,328,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Franklin Resources Inc. grew its position in shares of Brunswick by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 233,128 shares of the company's stock valued at $19,394,000 after acquiring an additional 5,604 shares during the period. Sanctuary Advisors LLC increased its stake in shares of Brunswick by 12.1% in the third quarter. Sanctuary Advisors LLC now owns 12,808 shares of the company's stock worth $1,055,000 after purchasing an additional 1,387 shares in the last quarter. Barclays PLC raised its position in shares of Brunswick by 78.6% in the third quarter. Barclays PLC now owns 118,189 shares of the company's stock valued at $9,907,000 after purchasing an additional 52,024 shares during the period. MML Investors Services LLC lifted its stake in shares of Brunswick by 30.7% during the 3rd quarter. MML Investors Services LLC now owns 7,119 shares of the company's stock valued at $597,000 after buying an additional 1,671 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in Brunswick by 26.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,087 shares of the company's stock worth $594,000 after buying an additional 1,484 shares during the period. 99.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BC shares. Citigroup boosted their target price on shares of Brunswick from $92.00 to $101.00 and gave the company a "buy" rating in a report on Friday, September 27th. Benchmark reiterated a "buy" rating and set a $100.00 price objective on shares of Brunswick in a research note on Friday, October 25th. Finally, B. Riley downgraded Brunswick from a "buy" rating to a "neutral" rating and cut their target price for the stock from $95.00 to $88.00 in a research note on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Brunswick has a consensus rating of "Moderate Buy" and an average target price of $88.54.

Insider Activity at Brunswick

In related news, CEO David M. Foulkes sold 23,829 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $80.22, for a total transaction of $1,911,562.38. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nancy E. Cooper sold 366 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.19, for a total value of $29,349.54. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 28,940 shares of company stock valued at $2,321,176 over the last 90 days. 0.81% of the stock is owned by insiders.

Brunswick Price Performance

Brunswick stock traded down $1.38 during mid-day trading on Friday, hitting $73.59. 598,402 shares of the company traded hands, compared to its average volume of 689,540. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 1.97. Brunswick Co. has a one year low of $69.05 and a one year high of $99.68. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 18.31 and a beta of 1.50. The stock has a fifty day moving average price of $80.67 and a 200-day moving average price of $78.50.

Brunswick Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 20th were given a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.68 annualized dividend and a yield of 2.28%. Brunswick's dividend payout ratio (DPR) is presently 41.79%.

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.