AXQ Capital LP Invests $1.01 Million in Brunswick Co. (NYSE:BC)

AXQ Capital LP acquired a new position in shares of Brunswick Co. (NYSE:BC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,561 shares of the company’s stock, valued at approximately $1,006,000.

Other large investors also recently modified their holdings of the company. Natixis Advisors LLC boosted its stake in Brunswick by 10.9% during the third quarter. Natixis Advisors LLC now owns 16,849 shares of the company’s stock worth $1,412,000 after acquiring an additional 1,652 shares in the last quarter. Pathstone Holdings LLC boosted its stake in Brunswick by 7.5% during the third quarter. Pathstone Holdings LLC now owns 28,984 shares of the company’s stock worth $2,429,000 after acquiring an additional 2,030 shares in the last quarter. Avior Wealth Management LLC boosted its stake in Brunswick by 1,073.7% during the third quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock worth $56,000 after acquiring an additional 612 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in Brunswick during the third quarter worth $330,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in Brunswick by 17.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock worth $259,010,000 after acquiring an additional 452,116 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Brunswick Stock Up 0.5 %

BC opened at $56.62 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 0.63. The company’s 50-day moving average is $63.40 and its 200 day moving average is $72.57. Brunswick Co. has a fifty-two week low of $54.97 and a fifty-two week high of $96.65. The firm has a market capitalization of $3.73 billion, a P/E ratio of 29.80 and a beta of 1.54.

Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.24 earnings per share (EPS) 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 quarter in the prior year, the firm earned $1.45 earnings per share. Research analysts expect that Brunswick Co. will post 4.19 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 24th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Monday, February 24th. This is an increase from Brunswick’s previous quarterly dividend of $0.42. Brunswick’s dividend payout ratio (DPR) is 90.53%.

Insider Buying and Selling

In other news, SVP Randall S. Altman sold 3,417 shares of Brunswick stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $63.21, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nancy E. Cooper sold 433 shares of Brunswick stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $65.65, for a total transaction of $28,426.45. Following the completion of the transaction, the director now owns 25,361 shares of the company’s stock, valued at $1,664,949.65. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BC. Roth Mkm cut their target price on shares of Brunswick from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Truist Financial dropped their price objective on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Stifel Nicolaus dropped their price objective on shares of Brunswick from $95.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. B. Riley raised shares of Brunswick to a “hold” rating in a research note on Wednesday, February 12th. Finally, Benchmark dropped their price objective on shares of Brunswick from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.62.

About Brunswick

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.