Brunswick (NYSE:BC) Reaches New 1-Year Low – Here’s Why

Brunswick Co. (NYSE:BC)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $41.17 and last traded at $41.94, with a volume of 1733141 shares changing hands. The stock had previously closed at $45.27.

Analysts Set New Price Targets

A number of analysts have issued reports on BC shares. Truist Financial decreased their price target on Brunswick from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Roth Mkm lowered their target price on shares of Brunswick from $91.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 24th. Baird R W downgraded shares of Brunswick from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Citigroup lowered their price objective on shares of Brunswick from $92.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, DA Davidson cut their target price on Brunswick from $80.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 22nd. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.00.

Brunswick Stock Performance

The company’s fifty day simple moving average is $57.88 and its two-hundred day simple moving average is $69.39. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 23.25 and a beta of 1.42. 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 return on equity of 15.41% and a net margin of 2.48%. During the same quarter in the previous year, the company earned $1.45 EPS. Equities research analysts predict that Brunswick Co. will post 4.19 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were paid a $0.43 dividend. This is an increase from Brunswick’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Monday, February 24th. Brunswick’s payout ratio is presently 90.53%.

Insider Activity at Brunswick

In other news, SVP Randall S. Altman sold 3,417 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 26,683 shares in the company, valued at approximately $1,686,632.43. The trade was a 11.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Nancy E. Cooper sold 433 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $65.65, for a total value of $28,426.45. Following the completion of the sale, the director now owns 25,361 shares in the company, valued at approximately $1,664,949.65. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

Institutional Trading of Brunswick

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oak Thistle LLC bought a new position in shares of Brunswick during the 4th quarter valued at about $368,000. American Century Companies Inc. boosted its holdings in Brunswick by 2.9% during the fourth quarter. American Century Companies Inc. now owns 1,462,558 shares of the company’s stock worth $94,599,000 after buying an additional 41,583 shares in the last quarter. Bank of New York Mellon Corp grew its position in Brunswick by 16.7% in the fourth quarter. Bank of New York Mellon Corp now owns 766,509 shares of the company’s stock worth $49,578,000 after buying an additional 109,728 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Brunswick in the fourth quarter valued at $2,827,000. Finally, Channing Capital Management LLC lifted its position in shares of Brunswick by 10.9% during the 4th quarter. Channing Capital Management LLC now owns 1,025,123 shares of the company’s stock valued at $66,305,000 after acquiring an additional 100,412 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

Brunswick Company 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.