Brunswick Co. (NYSE:BC) Shares Acquired by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. grew its stake in shares of Brunswick Co. (NYSE:BC) by 16.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,316 shares of the company’s stock after purchasing an additional 4,930 shares during the period. Summit Investment Advisors Inc. owned about 0.05% of Brunswick worth $2,220,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oak Thistle LLC acquired a new position in shares of Brunswick in the fourth quarter worth about $368,000. American Century Companies Inc. lifted its position in shares of Brunswick by 2.9% in the 4th quarter. American Century Companies Inc. now owns 1,462,558 shares of the company’s stock valued at $94,599,000 after acquiring an additional 41,583 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Brunswick by 16.7% in the 4th quarter. Bank of New York Mellon Corp now owns 766,509 shares of the company’s stock worth $49,578,000 after purchasing an additional 109,728 shares during the period. Proficio Capital Partners LLC purchased a new position in Brunswick during the 4th quarter worth approximately $2,827,000. Finally, Channing Capital Management LLC raised its stake in 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 purchasing an additional 100,412 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Brunswick Stock Up 1.0 %

BC opened at $44.70 on Tuesday. The firm has a market cap of $2.95 billion, a P/E ratio of 23.53 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. The business has a 50 day moving average price of $56.98 and a 200 day moving average price of $68.76. Brunswick Co. has a twelve month low of $41.00 and a twelve month high of $87.81.

Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates 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 previous year, the business earned $1.45 earnings per share. Research analysts forecast that Brunswick Co. will post 4.19 EPS for the current year.

Brunswick Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 24th were paid a dividend of $0.43 per share. This is a boost from Brunswick’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 3.85%. The ex-dividend date was Monday, February 24th. Brunswick’s dividend payout ratio is presently 90.53%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BC. Stifel Nicolaus lowered their price target on Brunswick from $95.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Baird R W downgraded Brunswick from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Truist Financial reduced their price target on shares of Brunswick from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Monday. DA Davidson dropped their price objective 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, Citigroup decreased their target price 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. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $77.08.

Insider Buying and Selling at Brunswick

In other Brunswick news, SVP Randall S. Altman sold 3,417 shares of the firm’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 transaction, the senior vice president now owns 26,683 shares in the company, valued at $1,686,632.43. This trade represents a 11.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Nancy E. Cooper sold 433 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $65.65, for a total value of $28,426.45. Following the completion of the transaction, the director now directly owns 25,361 shares of the company’s stock, valued at approximately $1,664,949.65. The trade was 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.

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.