Nordea Investment Management AB Trims Stock Position in Brunswick Co. (NYSE:BC)

Posted by Defense World Staff on May 11th, 2023

Nordea Investment Management AB cut its holdings in shares of Brunswick Co. (NYSE:BC – Get Rating) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,106 shares of the company’s stock after selling 808 shares during the quarter. Nordea Investment Management AB owned about 0.11% of Brunswick worth $5,763,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in BC. Dakota Wealth Management increased its stake in Brunswick by 10.8% during the fourth quarter. Dakota Wealth Management now owns 3,772 shares of the company’s stock worth $272,000 after acquiring an additional 369 shares during the last quarter. Arizona State Retirement System increased its stake in Brunswick by 2.0% during the fourth quarter. Arizona State Retirement System now owns 20,985 shares of the company’s stock worth $1,513,000 after acquiring an additional 406 shares during the last quarter. Toronto Dominion Bank acquired a new stake in Brunswick during the fourth quarter worth about $5,763,000. MTM Investment Management LLC acquired a new stake in Brunswick during the fourth quarter worth about $216,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Brunswick by 1.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 96,096 shares of the company’s stock valued at $6,927,000 after buying an additional 1,817 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Brunswick Trading Down 3.5 %

NYSE:BC opened at $78.17 on Thursday. The company has a quick ratio of 0.81, a current ratio of 1.86 and a debt-to-equity ratio of 1.17. The business’s 50 day moving average is $82.03 and its two-hundred day moving average is $78.83. Brunswick Co. has a 52 week low of $61.89 and a 52 week high of $93.15. The company has a market cap of $5.53 billion, a PE ratio of 9.42 and a beta of 1.53.

Brunswick (NYSE:BC – Get Rating) last released its earnings results on Thursday, April 27th. The company reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. Brunswick had a return on equity of 36.65% and a net margin of 8.97%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the business posted $2.53 EPS. Brunswick’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts predict that Brunswick Co. will post 10.37 EPS for the current year.

Brunswick Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Monday, May 15th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Friday, May 12th. Brunswick’s dividend payout ratio is presently 19.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. DA Davidson increased their target price on Brunswick from $82.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, February 7th. StockNews.com assumed coverage on Brunswick in a research note on Thursday, March 16th. They issued a “buy” rating for the company. Jefferies Financial Group lowered their target price on Brunswick from $105.00 to $94.00 and set a “buy” rating for the company in a research note on Friday, March 17th. Citigroup increased their target price on Brunswick from $104.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Finally, Roth Capital reiterated a “buy” rating on shares of Brunswick in a research note on Thursday, February 2nd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Brunswick currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.25.

Insiders Place Their Bets

In related news, VP Christopher F. Dekker sold 7,353 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $88.29, for a total value of $649,196.37. Following the sale, the vice president now owns 41,455 shares of the company’s stock, valued at approximately $3,660,061.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Christopher F. Dekker sold 7,353 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $88.29, for a total value of $649,196.37. Following the sale, the vice president now owns 41,455 shares of the company’s stock, valued at approximately $3,660,061.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Ryan M. Gwillim sold 5,710 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $88.28, for a total value of $504,078.80. Following the completion of the sale, the chief financial officer now directly owns 28,522 shares in the company, valued at approximately $2,517,922.16. The disclosure for this sale can be found here. Insiders have sold a total of 26,390 shares of company stock valued at $2,239,672 in the last quarter. Insiders own 0.74% of the company’s stock.

About Brunswick

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Brunswick Corp. engages in the design, manufacture, and marketing of recreational marine products, including marine engines, boats, and parts and accessories for those products. It operates through the following segments: Propulsion, Parts and Accessories, Boat, and Corporate/Other. The Propulsion segment manufactures a full range of outboard, sterndrive, and inboard engines, as well as propulsion-related controls, propellers, and rigging parts and accessories.