113,901 Shares in Brunswick Co. (NYSE:BC) Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new stake in shares of Brunswick Co. (NYSE:BC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 113,901 shares of the company’s stock, valued at approximately $8,289,000. Brunswick comprises approximately 0.4% of Edgestream Partners L.P.’s portfolio, making the stock its 28th largest holding. Edgestream Partners L.P. owned 0.17% of Brunswick as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Principal Securities Inc. purchased a new stake in shares of Brunswick during the 4th quarter valued at $28,000. Johnson Financial Group Inc. acquired a new position in Brunswick during the 4th quarter valued at about $30,000. Rise Advisors LLC raised its stake in Brunswick by 249.5% in the first quarter. Rise Advisors LLC now owns 325 shares of the company’s stock valued at $31,000 after buying an additional 232 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Brunswick by 43,700.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock worth $42,000 after acquiring an additional 437 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its stake in shares of Brunswick by 77.1% during the first quarter. J.Safra Asset Management Corp now owns 602 shares of the company’s stock worth $58,000 after acquiring an additional 262 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Brunswick Stock Up 1.3 %

Shares of BC stock opened at $80.18 on Tuesday. Brunswick Co. has a twelve month low of $66.47 and a twelve month high of $99.68. The stock has a market cap of $5.42 billion, a P/E ratio of 14.90 and a beta of 1.51. The stock has a 50 day moving average of $77.22 and a 200 day moving average of $80.98. The company has a current ratio of 1.70, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18.

Brunswick (NYSE:BC) last posted its earnings results on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). Brunswick had a net margin of 5.92% and a return on equity of 23.46%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the firm earned $2.35 earnings per share. Brunswick’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, sell-side analysts expect that Brunswick Co. will post 5.26 EPS for the current year.

Brunswick Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently commented on the stock. B. Riley decreased their price objective on shares of Brunswick from $108.00 to $97.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Citigroup lowered their price objective on shares of Brunswick from $100.00 to $88.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Northcoast Research raised Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Monday, July 29th. Benchmark reaffirmed a “buy” rating and set a $100.00 price target on shares of Brunswick in a research report on Friday, July 26th. Finally, Robert W. Baird cut their price objective on Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $88.21.

Insider Activity

In related news, Director Nancy E. Cooper sold 358 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.34, for a total value of $29,119.72. Following the completion of the transaction, the director now owns 23,877 shares of the company’s stock, valued at approximately $1,942,155.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.81% 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.