Global Alpha Capital Management Ltd. Raises Stock Position in Brunswick Co. (NYSE:BC)

Global Alpha Capital Management Ltd. raised its position in Brunswick Co. (NYSE:BC) by 47.5% in the third quarter, Holdings Channel reports. The institutional investor owned 240,128 shares of the company’s stock after purchasing an additional 77,340 shares during the period. Global Alpha Capital Management Ltd.’s holdings in Brunswick were worth $20,128,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of Brunswick in the third quarter valued at about $26,000. Allspring Global Investments Holdings LLC raised its stake in shares of Brunswick by 43,700.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock valued at $42,000 after acquiring an additional 437 shares during the period. Avior Wealth Management LLC raised its stake in shares of Brunswick by 1,073.7% in the 3rd 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 period. Covestor Ltd raised its stake in shares of Brunswick by 669.0% in the 3rd quarter. Covestor Ltd now owns 969 shares of the company’s stock valued at $81,000 after acquiring an additional 843 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Brunswick by 92.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,155 shares of the company’s stock valued at $97,000 after acquiring an additional 555 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BC shares. Jefferies Financial Group reissued a “hold” rating and issued a $70.00 price target (down from $115.00) on shares of Brunswick in a research note on Friday, July 26th. Benchmark reissued a “buy” rating and issued a $100.00 price target on shares of Brunswick in a research note on Friday, October 25th. Roth Mkm reaffirmed a “buy” rating and set a $94.00 target price on shares of Brunswick in a research note on Thursday, July 25th. Robert W. Baird cut their target price on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. cut their target price on shares of Brunswick from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $89.23.

Brunswick Trading Down 0.4 %

NYSE BC opened at $79.55 on Wednesday. The firm has a 50 day moving average of $81.59 and a two-hundred day moving average of $78.79. Brunswick Co. has a 52 week low of $69.05 and a 52 week high of $99.68. 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 stock has a market capitalization of $5.25 billion, a PE ratio of 19.79 and a beta of 1.51.

Brunswick Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Wednesday, November 20th. Brunswick’s payout ratio is 41.79%.

Insider Activity

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 completion of the sale, the chief executive officer now owns 251,094 shares in the company, valued at $20,142,760.68. This represents a 8.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph W. Mcclanathan sold 4,745 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $80.14, for a total transaction of $380,264.30. Following the sale, the director now owns 19,218 shares of the company’s stock, valued at approximately $1,540,130.52. This represents a 19.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,940 shares of company stock worth $2,321,176. Corporate insiders own 0.81% of the company’s stock.

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.