Briggs & Stratton Co. (NYSE:BGG) declared a quarterly dividend on Wednesday, August 15th, RTT News reports. Stockholders of record on Tuesday, September 18th will be given a dividend of 0.14 per share by the industrial products company on Wednesday, October 3rd. This represents a $0.56 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Monday, September 17th.
Briggs & Stratton has raised its dividend payment by an average of 4.6% annually over the last three years and has increased its dividend every year for the last 6 years. Briggs & Stratton has a dividend payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Briggs & Stratton to earn $1.73 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 32.4%.
NYSE BGG traded down $0.17 during trading hours on Monday, hitting $18.81. 256,800 shares of the company traded hands, compared to its average volume of 316,217. Briggs & Stratton has a twelve month low of $16.26 and a twelve month high of $27.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.70 and a current ratio of 1.77. The stock has a market capitalization of $815.11 million, a PE ratio of 14.51 and a beta of 0.66.
Briggs & Stratton (NYSE:BGG) last issued its quarterly earnings results on Wednesday, August 15th. The industrial products company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. Briggs & Stratton had a positive return on equity of 10.13% and a negative net margin of 0.60%. The firm had revenue of $501.69 million during the quarter, compared to analysts’ expectations of $495.83 million. During the same period in the prior year, the firm posted $0.46 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts forecast that Briggs & Stratton will post 1.45 EPS for the current year.
Several research firms have issued reports on BGG. Northcoast Research restated a “buy” rating and issued a $25.00 price objective on shares of Briggs & Stratton in a research note on Friday, August 17th. Zacks Investment Research lowered Briggs & Stratton from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. ValuEngine lowered Briggs & Stratton from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Finally, Sidoti lowered Briggs & Stratton from a “buy” rating to a “neutral” rating and set a $17.00 price objective on the stock. in a research note on Thursday, July 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $24.75.
In other news, insider Todd J. Teske sold 87,398 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $20.91, for a total transaction of $1,827,492.18. Following the transaction, the insider now owns 453,723 shares in the company, valued at $9,487,347.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.30% of the stock is currently owned by company insiders.
Briggs & Stratton Company Profile
Briggs & Stratton Corporation designs, manufactures, markets, sells, and services gasoline engines for outdoor power equipment to the original equipment manufacturers in the United States. It operates in two segments, Engines and Products. The Engines segment offers four-cycle aluminum alloy gasoline engines that are used primarily by the lawn and garden equipment industry.
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