Edgestream Partners L.P. Purchases New Holdings in Brunswick Co. (NYSE:BC)

Edgestream Partners L.P. acquired a new position in shares of Brunswick Co. (NYSE:BC) in the 2nd quarter, HoldingsChannel reports. The firm acquired 113,901 shares of the company’s stock, valued at approximately $8,289,000. Brunswick makes up approximately 0.4% of Edgestream Partners L.P.’s holdings, making the stock its 28th largest position.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Brunswick by 2.3% in the first quarter. Vanguard Group Inc. now owns 7,266,170 shares of the company’s stock worth $701,331,000 after acquiring an additional 160,531 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Brunswick by 2.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,637,962 shares of the company’s stock valued at $191,964,000 after purchasing an additional 58,583 shares in the last quarter. Baillie Gifford & Co. boosted its stake in Brunswick by 88.0% during the 2nd quarter. Baillie Gifford & Co. now owns 2,430,983 shares of the company’s stock worth $176,903,000 after purchasing an additional 1,137,568 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Brunswick by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,096,808 shares of the company’s stock worth $152,577,000 after purchasing an additional 144,416 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Brunswick by 4.1% during the second quarter. American Century Companies Inc. now owns 1,461,268 shares of the company’s stock worth $106,337,000 after buying an additional 57,605 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Insider Transactions at Brunswick

In related news, Director Nancy E. Cooper sold 358 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $81.34, for a total value of $29,119.72. Following the sale, the director now owns 23,877 shares in the company, valued at approximately $1,942,155.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BC. Northcoast Research raised shares of Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Monday, July 29th. Roth Mkm reissued a “buy” rating and issued a $94.00 target price on shares of Brunswick in a research note on Thursday, July 25th. Truist Financial dropped their price target on Brunswick from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Benchmark reiterated a “buy” rating and set a $100.00 price objective on shares of Brunswick in a research report on Friday, July 26th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $70.00 price objective (down previously from $115.00) on shares of Brunswick in a research note on Friday, July 26th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.21.

Brunswick Stock Up 1.3 %

Shares of NYSE:BC opened at $80.18 on Tuesday. The business has a 50-day moving average price of $77.22 and a 200 day moving average price of $80.98. Brunswick Co. has a 12-month low of $66.47 and a 12-month high of $99.68. The company has a current ratio of 1.70, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 14.90 and a beta of 1.51.

Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Brunswick had a net margin of 5.92% and a return on equity of 23.46%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the business earned $2.35 earnings per share. Brunswick’s revenue was down 15.2% on a year-over-year basis. Sell-side analysts expect that Brunswick Co. will post 5.26 EPS for the current year.

Brunswick Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Wednesday, August 21st. Brunswick’s dividend payout ratio (DPR) is 31.23%.

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.