Brunswick (NYSE:BC) Sets New 52-Week Low – Here’s Why

Brunswick Co. (NYSE:BC)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $55.40 and last traded at $55.54, with a volume of 1257379 shares. The stock had previously closed at $59.01.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of Brunswick from $95.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Robert W. Baird set a $90.00 price target on shares of Brunswick in a research note on Friday, January 31st. Truist Financial cut their price target on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. DA Davidson cut their price target on shares of Brunswick from $80.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Finally, B. Riley raised shares of Brunswick to a “hold” rating in a research note on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Brunswick currently has a consensus rating of “Moderate Buy” and an average price target of $81.62.

Brunswick Stock Performance

The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 29.23 and a beta of 1.54. The company’s fifty day simple moving average is $65.53 and its 200 day simple moving average is $74.57. The company has a quick ratio of 0.63, a current ratio of 1.65 and a debt-to-equity ratio of 1.11.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.18 by $0.06. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. During the same period in the prior year, the company earned $1.45 EPS. On average, equities research analysts expect that Brunswick Co. will post 4.19 earnings per share for the current year.

Brunswick Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 24th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Monday, February 24th. This is a boost from Brunswick’s previous quarterly dividend of $0.42. Brunswick’s payout ratio is presently 90.53%.

Insider Activity

In related news, SVP Randall S. Altman sold 3,417 shares of the company’s stock in a transaction dated 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. This represents a 11.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Nancy E. Cooper sold 433 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $65.65, for a total transaction of $28,426.45. Following the sale, the director now directly owns 25,361 shares of the company’s stock, valued at $1,664,949.65. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Polar Asset Management Partners Inc. acquired a new position in Brunswick during the fourth quarter worth about $1,889,000. iSAM Funds UK Ltd acquired a new position in Brunswick during the fourth quarter worth about $356,000. Twinbeech Capital LP acquired a new position in Brunswick during the fourth quarter worth about $3,907,000. Two Sigma Advisers LP raised its stake in Brunswick by 190.7% during the fourth quarter. Two Sigma Advisers LP now owns 68,900 shares of the company’s stock worth $4,456,000 after acquiring an additional 45,200 shares in the last quarter. Finally, Two Sigma Investments LP raised its stake in Brunswick by 720.0% during the fourth quarter. Two Sigma Investments LP now owns 88,029 shares of the company’s stock worth $5,694,000 after acquiring an additional 77,294 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

About Brunswick

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.