Verdence Capital Advisors LLC Makes New Investment in Brunswick Co. (NYSE:BC)

Verdence Capital Advisors LLC acquired a new stake in shares of Brunswick Co. (NYSE:BC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,216 shares of the company’s stock, valued at approximately $273,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Armstrong Advisory Group Inc. bought a new position in Brunswick in the 4th quarter valued at about $39,000. Financial Perspectives Inc bought a new position in shares of Brunswick in the fourth quarter valued at approximately $42,000. Avior Wealth Management LLC boosted 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 buying an additional 612 shares during the last quarter. Covestor Ltd boosted 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 buying an additional 843 shares during the last quarter. Finally, KBC Group NV grew its holdings in Brunswick by 21.7% during the third quarter. KBC Group NV now owns 2,025 shares of the company’s stock worth $170,000 after buying an additional 361 shares in the last quarter. 99.34% of the stock is owned by institutional investors.

Brunswick Stock Performance

NYSE:BC opened at $59.18 on Friday. The company has a market capitalization of $3.90 billion, a P/E ratio of 31.15 and a beta of 1.54. The business has a fifty day simple moving average of $65.01 and a two-hundred day simple moving average of $74.19. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 0.63. Brunswick Co. has a 1 year low of $55.40 and a 1 year high of $96.65.

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.24 earnings per share 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 company posted $1.45 earnings per share. On average, analysts expect 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. Stockholders of record on Monday, February 24th will be given a $0.43 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.72 annualized dividend and a dividend yield of 2.91%. This is a positive change from Brunswick’s previous quarterly dividend of $0.42. Brunswick’s payout ratio is 90.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BC shares. Stifel Nicolaus cut their price objective on shares of Brunswick from $95.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Citigroup cut their price target on shares of Brunswick from $92.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Roth Mkm dropped their target price on shares of Brunswick from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Benchmark cut their target price on Brunswick from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Truist Financial decreased their price target on Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Brunswick has a consensus rating of “Moderate Buy” and a consensus target price of $81.62.

Insider Activity at Brunswick

In related news, Director Nancy E. Cooper sold 433 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $65.65, for a total transaction of $28,426.45. Following the sale, the director now directly owns 25,361 shares in the company, valued at approximately $1,664,949.65. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Randall S. Altman sold 3,417 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 26,683 shares of the company’s stock, valued at approximately $1,686,632.43. This represents a 11.35 % decrease in their position. 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.