Lord Abbett & CO. LLC Increases Position in Brunswick Co. (NYSE:BC)

Lord Abbett & CO. LLC grew its holdings in Brunswick Co. (NYSE:BC - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 758,004 shares of the company's stock after buying an additional 74,061 shares during the quarter. Lord Abbett & CO. LLC owned approximately 1.15% of Brunswick worth $49,028,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Pacer Advisors Inc. lifted its holdings in Brunswick by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 9,861 shares of the company's stock worth $638,000 after buying an additional 190 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Brunswick by 5.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,883 shares of the company's stock valued at $316,000 after purchasing an additional 236 shares during the period. Xponance Inc. boosted its position in shares of Brunswick by 4.9% during the fourth quarter. Xponance Inc. now owns 7,617 shares of the company's stock valued at $493,000 after purchasing an additional 359 shares in the last quarter. Hunter Associates Investment Management LLC grew its stake in Brunswick by 2.5% in the fourth quarter. Hunter Associates Investment Management LLC now owns 18,127 shares of the company's stock worth $1,170,000 after purchasing an additional 447 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in Brunswick by 11.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,431 shares of the company's stock worth $351,000 after purchasing an additional 572 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Truist Financial reduced their target price on shares of Brunswick from $85.00 to $60.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Roth Mkm cut their price objective on shares of Brunswick from $91.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, January 24th. Baird R W cut Brunswick from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. DA Davidson reaffirmed a "neutral" rating and set a $43.00 price objective (down previously from $64.00) on shares of Brunswick in a research report on Monday. Finally, Morgan Stanley boosted their target price on Brunswick from $64.00 to $65.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Seven research 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 has a consensus rating of "Moderate Buy" and a consensus target price of $71.00.

Brunswick Stock Performance

Shares of BC traded down $0.14 during mid-day trading on Tuesday, hitting $46.36. 912,838 shares of the company traded hands, compared to its average volume of 769,160. Brunswick Co. has a 1 year low of $41.00 and a 1 year high of $87.65. 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 stock has a 50-day moving average price of $52.89 and a two-hundred day moving average price of $66.17. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 24.40 and a beta of 1.42.

Brunswick (NYSE:BC - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.31. Brunswick had a return on equity of 15.41% and a net margin of 2.48%. The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the prior year, the firm earned $1.35 EPS. The company's revenue was down 10.5% compared to the same quarter last year. 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 was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.71%. This is a boost from Brunswick's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, February 24th. Brunswick's dividend payout ratio (DPR) is presently 142.15%.

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 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 $1,686,632.43. The trade was a 11.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Nancy E. Cooper sold 433 shares of the firm'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 directly owns 25,361 shares in the company, valued at approximately $1,664,949.65. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company's stock.

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.