Brunswick (NYSE:BC) Sets New 52-Week Low – Here’s Why

Shares of Brunswick Co. (NYSE:BC) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $62.91 and last traded at $63.04, with a volume of 292277 shares traded. The stock had previously closed at $65.14.

Wall Street Analysts Forecast Growth

BC has been the subject of several research reports. Benchmark restated a “buy” rating and set a $100.00 price objective on shares of Brunswick in a research note on Friday, October 25th. Citigroup boosted their target price on shares of Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, September 27th. B. Riley downgraded Brunswick from a “buy” rating to a “neutral” rating and cut their price target for the stock from $95.00 to $88.00 in a research report on Tuesday, November 26th. Finally, Truist Financial decreased their price objective on Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $88.15.

Brunswick Stock Performance

The stock has a 50-day moving average of $74.49 and a 200 day moving average of $77.04. The stock has a market cap of $4.18 billion, a PE ratio of 15.76 and a beta of 1.54. The company has a quick ratio of 0.74, a current ratio of 1.97 and a debt-to-equity ratio of 1.17.

Brunswick Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th were paid a $0.42 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $1.68 annualized dividend and a dividend yield of 2.65%. Brunswick’s dividend payout ratio (DPR) is 41.79%.

Insider Activity at Brunswick

In other Brunswick news, CEO David M. Foulkes sold 23,829 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $80.22, for a total value of $1,911,562.38. Following the sale, the chief executive officer now owns 251,094 shares of the company’s stock, valued at $20,142,760.68. The trade was a 8.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nancy E. Cooper sold 366 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.19, for a total value of $29,349.54. Following the transaction, the director now owns 24,557 shares in the company, valued at $1,969,225.83. This trade represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,940 shares of company stock worth $2,321,176. Insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. boosted its holdings in Brunswick by 4.1% in the second quarter. American Century Companies Inc. now owns 1,461,268 shares of the company’s stock valued at $106,337,000 after purchasing an additional 57,605 shares during the period. Federated Hermes Inc. boosted its stake in shares of Brunswick by 1.7% in the 2nd quarter. Federated Hermes Inc. now owns 838,996 shares of the company’s stock valued at $61,054,000 after buying an additional 14,144 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Brunswick by 4.3% during the second quarter. Envestnet Asset Management Inc. now owns 167,160 shares of the company’s stock worth $12,164,000 after buying an additional 6,853 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Brunswick by 2.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,637,962 shares of the company’s stock worth $191,964,000 after buying an additional 58,583 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Brunswick by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,096,808 shares of the company’s stock worth $152,577,000 after acquiring an additional 144,416 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

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.