Massachusetts Financial Services Co. MA Has $259.01 Million Stake in Brunswick Co. (NYSE:BC)

Massachusetts Financial Services Co. MA boosted its stake in shares of Brunswick Co. (NYSE:BC - Free Report) by 17.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,090,078 shares of the company's stock after purchasing an additional 452,116 shares during the period. Massachusetts Financial Services Co. MA owned about 4.68% of Brunswick worth $259,010,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BC. V Square Quantitative Management LLC acquired a new stake in shares of Brunswick during the 3rd quarter valued at about $26,000. Avior Wealth Management LLC lifted its stake in Brunswick by 1,073.7% in the third quarter. Avior Wealth Management LLC now owns 669 shares of the company's stock valued at $56,000 after acquiring an additional 612 shares during the last quarter. Covestor Ltd grew its position in Brunswick by 669.0% in the third quarter. Covestor Ltd now owns 969 shares of the company's stock worth $81,000 after acquiring an additional 843 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Brunswick by 92.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,155 shares of the company's stock valued at $97,000 after purchasing an additional 555 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Brunswick by 47.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,511 shares of the company's stock valued at $110,000 after purchasing an additional 483 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company's stock.

Brunswick Stock Performance

BC traded up $1.24 on Friday, hitting $82.37. 542,354 shares of the stock traded hands, compared to its average volume of 507,071. The business has a fifty day moving average price of $81.74 and a two-hundred day moving average price of $78.80. The company has a current ratio of 1.97, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $5.43 billion, a PE ratio of 20.49 and a beta of 1.51. Brunswick Co. has a 52 week low of $69.05 and a 52 week high of $99.68.

Brunswick Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.04%. Brunswick's payout ratio is 41.79%.

Insider Buying and Selling

In related news, Director Joseph W. Mcclanathan sold 4,745 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $80.14, for a total value of $380,264.30. Following the completion of the transaction, the director now owns 19,218 shares of the company's stock, valued at $1,540,130.52. This represents a 19.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Nancy E. Cooper sold 366 shares of the company's stock in a transaction that occurred on 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 owns 24,557 shares in the company, valued at approximately $1,969,225.83. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,940 shares of company stock valued at $2,321,176 over the last ninety days. 0.81% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on BC. Jefferies Financial Group restated a "hold" rating and set a $70.00 target price (down from $115.00) on shares of Brunswick in a report on Friday, July 26th. Robert W. Baird decreased their target price on Brunswick from $95.00 to $93.00 and set an "outperform" rating for the company in a research report on Friday, July 26th. Benchmark reissued a "buy" rating and issued a $100.00 price target on shares of Brunswick in a research report on Friday, October 25th. Northcoast Research raised shares of Brunswick from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a report on Monday, July 29th. Finally, Citigroup boosted their target price on shares of Brunswick from $92.00 to $101.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $89.23.

Brunswick 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.