Polar Asset Management Partners Inc. Makes New $1.89 Million Investment in Brunswick Co. (NYSE:BC)

Polar Asset Management Partners Inc. acquired a new stake in shares of Brunswick Co. (NYSE:BC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,200 shares of the company’s stock, valued at approximately $1,889,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Perspectives Inc bought a new stake in shares of Brunswick in the fourth quarter worth about $42,000. Quarry LP purchased a new stake in Brunswick in the 4th quarter worth approximately $45,000. KBC Group NV grew its position in shares of Brunswick by 42.8% in the 4th quarter. KBC Group NV now owns 2,892 shares of the company’s stock worth $187,000 after buying an additional 867 shares during the last quarter. Stevens Capital Management LP purchased a new position in shares of Brunswick during the fourth quarter valued at approximately $203,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Brunswick by 121.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,295 shares of the company’s stock valued at $213,000 after acquiring an additional 1,809 shares in the last quarter. 99.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Truist Financial cut their price target on shares of Brunswick from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Baird R W cut shares of Brunswick from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. DA Davidson reissued a “neutral” rating and issued a $43.00 price target (down from $64.00) on shares of Brunswick in a research note on Monday, April 28th. Morgan Stanley lifted 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. Finally, B. Riley upgraded Brunswick to a “hold” rating in a report on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.31.

Insider Activity at Brunswick

In related news, SVP Randall S. Altman sold 3,417 shares of the business’s stock in a transaction that occurred on 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 directly owns 26,683 shares in the company, valued at $1,686,632.43. The trade was a 11.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.81% of the stock is currently owned by insiders.

Brunswick Price Performance

BC stock opened at $49.72 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65. The firm has a 50 day moving average price of $48.95 and a 200-day moving average price of $61.63. Brunswick Co. has a 52-week low of $41.00 and a 52-week high of $87.65. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 26.17 and a beta of 1.28.

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.31. Brunswick had a return on equity of 15.41% and a net margin of 2.48%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the business earned $1.35 earnings per share. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities research analysts forecast that Brunswick Co. will post 4.19 EPS for the current fiscal year.

Brunswick Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, May 19th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Monday, May 19th. Brunswick’s payout ratio is 142.15%.

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.