TimesSquare Capital Management LLC Trims Stake in Brunswick Co. (NYSE:BC)

TimesSquare Capital Management LLC reduced its stake in shares of Brunswick Co. (NYSE:BC) by 40.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 394,326 shares of the company’s stock after selling 265,857 shares during the quarter. TimesSquare Capital Management LLC owned 0.60% of Brunswick worth $25,505,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. New York State Common Retirement Fund grew its holdings in Brunswick by 7.7% in the fourth quarter. New York State Common Retirement Fund now owns 292,552 shares of the company’s stock valued at $18,922,000 after purchasing an additional 20,871 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Brunswick in the fourth quarter valued at approximately $2,211,000. State of New Jersey Common Pension Fund D grew its holdings in Brunswick by 9.1% in the fourth 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 purchasing an additional 2,205 shares during the period. Van ECK Associates Corp grew its holdings in Brunswick by 21.7% in the fourth quarter. Van ECK Associates Corp now owns 125,017 shares of the company’s stock valued at $8,086,000 after purchasing an additional 22,324 shares during the period. Finally, Peterson Wealth Services grew its holdings in Brunswick by 6.8% in the fourth quarter. Peterson Wealth Services now owns 13,268 shares of the company’s stock valued at $858,000 after purchasing an additional 847 shares during the period. 99.34% of the stock is owned by institutional investors and hedge funds.

Brunswick Price Performance

NYSE:BC opened at $64.64 on Thursday. Brunswick Co. has a 52 week low of $62.64 and a 52 week 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. The company has a market capitalization of $4.27 billion, a P/E ratio of 34.02 and a beta of 1.54. The stock’s fifty day moving average is $66.80 and its two-hundred day moving average is $75.31.

Brunswick (NYSE:BC) last posted its earnings results on Thursday, January 30th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company earned $1.45 EPS. Equities analysts expect that Brunswick Co. will post 4.19 EPS for the current year.

Brunswick Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 24th will be given a $0.43 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.72 dividend on an annualized basis and a yield of 2.66%. This is an increase from Brunswick’s previous quarterly dividend of $0.42. Brunswick’s payout ratio is currently 88.42%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Roth Mkm lowered their price target on Brunswick from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Citigroup lowered their price target on Brunswick from $92.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Morgan Stanley lifted their price target on Brunswick from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Truist Financial lowered their price target on Brunswick from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Finally, B. Riley raised Brunswick to a “hold” rating in a research note on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.85.

Insider Buying and Selling at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 433 shares of Brunswick stock in a transaction 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 sale, the director now owns 25,361 shares in the company, valued at $1,664,949.65. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company 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.