Brunswick Co. (NYSE:BC) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its stake in shares of Brunswick Co. (NYSE:BC) by 82.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 21,285 shares of the company’s stock after purchasing an additional 9,595 shares during the period. Daiwa Securities Group Inc.’s holdings in Brunswick were worth $1,377,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Armstrong Advisory Group Inc. acquired a new stake in shares of Brunswick during the 4th quarter valued at approximately $39,000. Financial Perspectives Inc acquired a new stake in shares of Brunswick during the 4th quarter valued at approximately $42,000. Avior Wealth Management LLC lifted its position in shares of Brunswick by 1,073.7% during 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. KBC Group NV raised its position in shares of Brunswick by 21.7% during the 3rd quarter. KBC Group NV now owns 2,025 shares of the company’s stock worth $170,000 after purchasing an additional 361 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in shares of Brunswick during the 3rd quarter worth approximately $313,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Brunswick Stock Up 2.6 %

BC stock opened at $57.66 on Friday. Brunswick Co. has a one year low of $54.97 and a one year high of $96.65. The company has a 50 day moving average price of $64.19 and a two-hundred day moving average price of $73.29. The stock has a market capitalization of $3.80 billion, a P/E ratio of 30.35 and a beta of 1.54. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65.

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.24 earnings per share (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 quarter in the previous year, the firm posted $1.45 earnings per share. As a group, sell-side analysts expect that Brunswick Co. will post 4.19 EPS for the current year.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, February 24th. This is a boost from Brunswick’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 2.98%. Brunswick’s payout ratio is currently 90.53%.

Insider Activity

In related news, Director Nancy E. Cooper sold 433 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $65.65, for a total transaction of $28,426.45. Following the completion of the sale, the director now directly owns 25,361 shares of the company’s stock, valued at approximately $1,664,949.65. This represents a 1.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Randall S. Altman sold 3,417 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total transaction of $215,988.57. Following the sale, the senior vice president now directly owns 26,683 shares of the company’s stock, valued at approximately $1,686,632.43. This trade represents a 11.35 % 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.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BC. DA Davidson cut their price objective on Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, January 22nd. Citigroup cut their price objective on Brunswick from $92.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Truist Financial cut their price objective on Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Roth Mkm cut their price objective on Brunswick from $91.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Finally, Benchmark cut their price objective on Brunswick from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Brunswick has a consensus rating of “Moderate Buy” and an average target price of $81.62.

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.