Brunswick (NYSE:BC) Reaches New 52-Week Low – Here’s What Happened

Shares of Brunswick Co. (NYSE:BC) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $55.40 and last traded at $55.54, with a volume of 1257379 shares trading hands. The stock had previously closed at $59.01.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BC shares. Truist Financial lowered their price objective on Brunswick from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Roth Mkm lowered their price objective on Brunswick from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Morgan Stanley upped their price objective on Brunswick from $64.00 to $65.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. B. Riley raised Brunswick to a “hold” rating in a report on Wednesday, February 12th. Finally, Robert W. Baird set a $90.00 price target on Brunswick in a report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.62.

Brunswick Price Performance

The company has a current ratio of 1.65, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $3.86 billion, a PE ratio of 30.82 and a beta of 1.54. The firm has a 50 day moving average price of $65.16 and a 200 day moving average price of $74.30.

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

Brunswick Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 24th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Monday, February 24th. This is a positive change from Brunswick’s previous quarterly dividend of $0.42. Brunswick’s dividend payout ratio is presently 90.53%.

Insiders Place Their Bets

In other Brunswick news, SVP Randall S. Altman sold 3,417 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total value of $215,988.57. Following the completion of the sale, the senior vice president now owns 26,683 shares in the company, valued at approximately $1,686,632.43. This represents a 11.35 % decrease in their position. 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 dated Monday, February 3rd. The shares were sold at an average price of $65.65, for a total value of $28,426.45. Following the transaction, the director now 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 position. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BC. Armstrong Advisory Group Inc. purchased a new position in shares of Brunswick during the fourth quarter valued at about $39,000. Financial Perspectives Inc purchased a new position in shares of Brunswick during the fourth quarter valued at about $42,000. Quarry LP purchased a new position in shares of Brunswick during the fourth quarter valued at about $45,000. Avior Wealth Management LLC grew its position in shares of Brunswick by 1,073.7% during the third quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock valued at $56,000 after purchasing an additional 612 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of Brunswick by 669.0% during the third quarter. Covestor Ltd now owns 969 shares of the company’s stock valued at $81,000 after purchasing an additional 843 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

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.