New York State Common Retirement Fund Boosts Holdings in Brunswick Co. (NYSE:BC)

New York State Common Retirement Fund lifted its stake in Brunswick Co. (NYSE:BC) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 292,552 shares of the company’s stock after purchasing an additional 20,871 shares during the period. New York State Common Retirement Fund’s holdings in Brunswick were worth $18,922,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BC. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Brunswick during the fourth quarter valued at $2,211,000. State of New Jersey Common Pension Fund D lifted its position in Brunswick by 9.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 26,395 shares of the company’s stock valued at $1,707,000 after acquiring an additional 2,205 shares during the period. Van ECK Associates Corp lifted its position in Brunswick by 21.7% during the 4th quarter. Van ECK Associates Corp now owns 125,017 shares of the company’s stock valued at $8,086,000 after acquiring an additional 22,324 shares during the period. Peterson Wealth Services lifted its position in Brunswick by 6.8% during the 4th quarter. Peterson Wealth Services now owns 13,268 shares of the company’s stock valued at $858,000 after acquiring an additional 847 shares during the period. Finally, Lightrock Netherlands B.V. purchased a new position in Brunswick during the 4th quarter valued at about $16,400,000. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Brunswick Stock Down 1.9 %

BC opened at $62.81 on Friday. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 33.06 and a beta of 1.54. The firm has a 50 day moving average price of $66.37 and a 200-day moving average price of $75.14. Brunswick Co. has a twelve month low of $62.33 and a twelve month high of $96.65. 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 announced its earnings results on Thursday, January 30th. The company reported $0.24 earnings per share for the quarter, beating 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 quarter last year, the firm posted $1.45 earnings per share. Equities research analysts forecast that Brunswick Co. will post 4.19 earnings per share for the current year.

Brunswick Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 24th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Monday, February 24th. This is a boost from Brunswick’s previous quarterly dividend of $0.42. Brunswick’s dividend payout ratio is 88.42%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. 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. Truist Financial lowered their price objective on Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Benchmark lowered their price objective on Brunswick from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Citigroup lowered their price target on Brunswick from $92.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Stifel Nicolaus lowered their price target on Brunswick from $95.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.62.

Insider Activity at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 433 shares of the company’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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.81% of the stock is owned by company insiders.

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.