Gamco Investors INC. ET AL Raises Position in Brunswick Corporation $BC

Gamco Investors INC. ET AL raised its position in Brunswick Corporation (NYSE:BC) by 22.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 147,413 shares of the company’s stock after buying an additional 26,552 shares during the period. Gamco Investors INC. ET AL owned about 0.23% of Brunswick worth $9,322,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. First Horizon Corp purchased a new position in shares of Brunswick in the third quarter valued at approximately $26,000. Jones Financial Companies Lllp increased its position in shares of Brunswick by 50.6% during the third quarter. Jones Financial Companies Lllp now owns 494 shares of the company’s stock worth $31,000 after purchasing an additional 166 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Brunswick in the 3rd quarter valued at $37,000. Quent Capital LLC purchased a new position in Brunswick in the 3rd quarter valued at $38,000. Finally, Parkside Financial Bank & Trust lifted its holdings in Brunswick by 103.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 702 shares of the company’s stock valued at $39,000 after purchasing an additional 357 shares in the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO David M. Foulkes sold 38,266 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $86.56, for a total transaction of $3,312,304.96. Following the completion of the sale, the chief executive officer owned 271,169 shares in the company, valued at $23,472,388.64. This trade represents a 12.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher F. Dekker sold 4,981 shares of Brunswick stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $87.38, for a total transaction of $435,239.78. Following the sale, the vice president directly owned 39,740 shares in the company, valued at approximately $3,472,481.20. The trade was a 11.14% decrease in their position. The SEC filing for this sale provides additional information. 0.85% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Loop Capital started coverage on shares of Brunswick in a report on Monday, December 22nd. They set a “hold” rating and a $74.00 target price for the company. Jefferies Financial Group set a $115.00 price target on shares of Brunswick and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Griffin Securities set a $76.00 price target on shares of Brunswick in a research report on Monday, February 2nd. Benchmark increased their price objective on shares of Brunswick from $75.00 to $90.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, B. Riley Financial reissued a “neutral” rating and issued a $80.00 target price (up from $70.00) on shares of Brunswick in a research note on Friday, January 30th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $84.00.

Brunswick Stock Down 4.5%

NYSE BC opened at $70.54 on Monday. Brunswick Corporation has a 52 week low of $41.00 and a 52 week high of $90.25. The company has a quick ratio of 0.61, a current ratio of 1.44 and a debt-to-equity ratio of 1.11. The business’s fifty day simple moving average is $83.58 and its 200-day simple moving average is $72.55. The firm has a market cap of $4.57 billion, a PE ratio of -33.27 and a beta of 1.39.

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. Brunswick had a negative net margin of 2.56% and a positive return on equity of 12.22%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Brunswick’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, equities analysts anticipate that Brunswick Corporation will post 4.19 earnings per share for the current year.

Brunswick Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Monday, February 23rd will be paid a $0.44 dividend. This is a positive change from Brunswick’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. Brunswick’s dividend payout ratio is currently -83.02%.

Brunswick Profile

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.