Texas Permanent School Fund Corp Buys 779 Shares of Brunswick Co. (NYSE:BC)

Texas Permanent School Fund Corp increased its stake in Brunswick Co. (NYSE:BC) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,224 shares of the company’s stock after buying an additional 779 shares during the quarter. Texas Permanent School Fund Corp owned about 0.09% of Brunswick worth $5,813,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Brunswick by 5.5% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 28,216 shares of the company’s stock worth $2,723,000 after purchasing an additional 1,473 shares during the last quarter. Whittier Trust Co. lifted its position in shares of Brunswick by 5.3% during the first quarter. Whittier Trust Co. now owns 51,686 shares of the company’s stock worth $4,989,000 after purchasing an additional 2,584 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Brunswick by 5.2% during the first quarter. Jennison Associates LLC now owns 848,728 shares of the company’s stock worth $81,919,000 after purchasing an additional 42,332 shares during the last quarter. FinTrust Capital Advisors LLC lifted its position in shares of Brunswick by 56.8% during the first quarter. FinTrust Capital Advisors LLC now owns 1,728 shares of the company’s stock worth $167,000 after purchasing an additional 626 shares during the last quarter. Finally, Hunter Associates Investment Management LLC lifted its position in shares of Brunswick by 69.6% during the first quarter. Hunter Associates Investment Management LLC now owns 15,445 shares of the company’s stock worth $1,489,000 after purchasing an additional 6,339 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

Brunswick Stock Performance

NYSE BC traded up $1.06 during trading hours on Friday, reaching $77.14. The stock had a trading volume of 93,730 shares, compared to its average volume of 728,301. The stock has a fifty day moving average of $76.95 and a 200 day moving average of $84.36. The stock has a market cap of $5.21 billion, a P/E ratio of 14.15 and a beta of 1.52. Brunswick Co. has a 52-week low of $66.47 and a 52-week high of $99.68. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.75 and a current ratio of 1.68.

Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the firm posted $2.57 earnings per share. The company’s revenue was down 21.7% compared to the same quarter last year. Sell-side analysts predict that Brunswick Co. will post 7.26 earnings per share for the current year.

Brunswick Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, May 13th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Friday, May 10th. Brunswick’s payout ratio is presently 31.23%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Truist Financial decreased their price objective on Brunswick from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday. B. Riley decreased their price objective on Brunswick from $108.00 to $97.00 and set a “buy” rating for the company in a report on Wednesday. Stifel Nicolaus reduced their target price on shares of Brunswick from $97.00 to $95.00 and set a “buy” rating for the company in a report on Friday. Benchmark started coverage on shares of Brunswick in a report on Wednesday, May 22nd. They issued a “buy” rating and a $100.00 target price for the company. Finally, Citigroup reduced their target price on shares of Brunswick from $100.00 to $88.00 and set a “buy” rating for the company in a report on Monday. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $90.31.

Insider Buying and Selling at Brunswick

In other news, Director Nancy E. Cooper sold 357 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total transaction of $28,681.38. Following the completion of the transaction, the director now directly owns 23,211 shares of the company’s stock, valued at approximately $1,864,771.74. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Nancy E. Cooper sold 357 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total transaction of $28,681.38. Following the completion of the transaction, the director now directly owns 23,211 shares of the company’s stock, valued at approximately $1,864,771.74. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Brenna Preisser sold 1,225 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total value of $100,560.25. Following the transaction, the vice president now directly owns 58,076 shares of the company’s stock, valued at $4,767,458.84. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate 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.