Lazard Asset Management LLC Cuts Stock Position in Brunswick Co. (NYSE:BC)

Lazard Asset Management LLC lowered its position in Brunswick Co. (NYSE:BC) by 17.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 106,774 shares of the company’s stock after selling 22,957 shares during the period. Lazard Asset Management LLC owned approximately 0.16% of Brunswick worth $10,305,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Brunswick by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 7,266,170 shares of the company’s stock worth $701,331,000 after purchasing an additional 160,531 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Brunswick by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,917,051 shares of the company’s stock worth $185,483,000 after purchasing an additional 47,053 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in Brunswick in the 1st quarter worth approximately $124,840,000. Victory Capital Management Inc. boosted its stake in Brunswick by 32.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,144,308 shares of the company’s stock worth $110,712,000 after purchasing an additional 278,082 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Brunswick by 5.2% in the 1st quarter. Jennison Associates LLC now owns 848,728 shares of the company’s stock worth $81,919,000 after purchasing an additional 42,332 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Brunswick Trading Up 1.2 %

Shares of BC stock traded up $0.96 on Friday, hitting $79.98. 1,573,593 shares of the stock traded hands, compared to its average volume of 977,837. The firm’s 50-day moving average price is $76.11 and its two-hundred day moving average price is $83.08. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.70. The stock has a market capitalization of $5.40 billion, a PE ratio of 14.87 and a beta of 1.52. Brunswick Co. has a twelve month low of $66.47 and a twelve month high of $99.68.

Brunswick (NYSE:BC) last posted its earnings results on Thursday, July 25th. The company reported $1.80 EPS 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 during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the company earned $2.35 EPS. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. As a group, analysts anticipate that Brunswick Co. will post 6.13 EPS for the current year.

Brunswick Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st will be given a $0.42 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $1.68 dividend on an annualized basis and a yield of 2.10%. Brunswick’s payout ratio is currently 31.23%.

Insider Buying and Selling at Brunswick

In other news, VP Brenna Preisser sold 1,225 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $82.09, for a total transaction of $100,560.25. Following the sale, the vice president now owns 58,076 shares of the company’s stock, valued at $4,767,458.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Brenna Preisser sold 1,225 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $82.09, for a total transaction of $100,560.25. Following the sale, the vice president now directly owns 58,076 shares in the company, valued at $4,767,458.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nancy E. Cooper sold 357 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total transaction of $28,681.38. Following the sale, the director now owns 23,211 shares in the company, valued at $1,864,771.74. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Morgan Stanley lowered their target price on shares of Brunswick from $91.00 to $86.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Roth Mkm restated a “buy” rating and set a $94.00 price objective on shares of Brunswick in a research note on Thursday. Jefferies Financial Group restated a “hold” rating and set a $70.00 price objective (down from $115.00) on shares of Brunswick in a research note on Friday. Robert W. Baird decreased their price objective on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday. Finally, BNP Paribas restated a “neutral” rating and set a $82.00 price objective (down from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Six research 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $88.57.

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.