Lord Abbett & CO. LLC Acquires 228,662 Shares of Brunswick Co. (NYSE:BC)

Lord Abbett & CO. LLC lifted its holdings in shares of Brunswick Co. (NYSE:BC) by 50.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 683,943 shares of the company’s stock after purchasing an additional 228,662 shares during the quarter. Lord Abbett & CO. LLC owned 1.04% of Brunswick worth $57,328,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BC. Baillie Gifford & Co. increased its holdings in Brunswick by 88.0% in the 2nd quarter. Baillie Gifford & Co. now owns 2,430,983 shares of the company’s stock valued at $176,903,000 after buying an additional 1,137,568 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Brunswick by 17.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock valued at $259,010,000 after purchasing an additional 452,116 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Brunswick by 1,120.5% in the 3rd quarter. Janus Henderson Group PLC now owns 354,631 shares of the company’s stock valued at $29,725,000 after purchasing an additional 325,574 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Brunswick by 447.5% during the 3rd quarter. New York State Common Retirement Fund now owns 271,681 shares of the company’s stock worth $22,772,000 after buying an additional 222,062 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in shares of Brunswick during the 3rd quarter worth $15,907,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Brunswick Stock Down 1.8 %

Shares of NYSE:BC opened at $73.59 on Friday. The business has a fifty day simple moving average of $80.67 and a 200 day simple moving average of $78.49. Brunswick Co. has a 12-month low of $69.05 and a 12-month high of $99.68. The firm has a market cap of $4.86 billion, a P/E ratio of 18.31 and a beta of 1.50. The company has a quick ratio of 0.74, a current ratio of 1.97 and a debt-to-equity ratio of 1.17.

Brunswick Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Wednesday, November 20th. Brunswick’s dividend payout ratio is presently 41.79%.

Wall Street Analyst Weigh In

Several brokerages have commented on BC. Citigroup boosted their target price on Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Benchmark reiterated a “buy” rating and set a $100.00 price objective on shares of Brunswick in a research report on Friday, October 25th. Finally, B. Riley lowered shares of Brunswick from a “buy” rating to a “neutral” rating and cut their target price for the company from $95.00 to $88.00 in a research report on Tuesday, November 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Brunswick has a consensus rating of “Moderate Buy” and an average price target of $88.54.

Insiders Place Their Bets

In other Brunswick news, Director Joseph W. Mcclanathan sold 4,745 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 19,218 shares in the company, valued at approximately $1,540,130.52. This represents a 19.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nancy E. Cooper sold 366 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.19, for a total transaction of $29,349.54. Following the transaction, the director now owns 24,557 shares in the company, valued at $1,969,225.83. The trade was a 1.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,940 shares of company stock worth $2,321,176. 0.81% of the stock is currently owned by insiders.

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.