Chartwell Investment Partners LLC Has $1.56 Million Stock Position in Brunswick Co. (NYSE:BC)

Posted by Defense World Staff on Jun 27th, 2023

Chartwell Investment Partners LLC grew its position in shares of Brunswick Co. (NYSE:BC – Get Rating) by 3.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,059 shares of the company’s stock after buying an additional 589 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Brunswick were worth $1,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Brunswick by 0.7% in the 1st quarter. BlackRock Inc. now owns 6,426,552 shares of the company’s stock valued at $519,843,000 after purchasing an additional 46,519 shares during the last quarter. State Street Corp lifted its holdings in Brunswick by 2.6% in the 1st quarter. State Street Corp now owns 2,121,553 shares of the company’s stock worth $171,612,000 after purchasing an additional 53,083 shares during the last quarter. American Century Companies Inc. boosted its position in Brunswick by 6.9% during the fourth quarter. American Century Companies Inc. now owns 2,040,967 shares of the company’s stock worth $147,113,000 after purchasing an additional 131,557 shares during the period. Dimensional Fund Advisors LP grew its holdings in Brunswick by 10.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,551,938 shares of the company’s stock valued at $111,864,000 after purchasing an additional 143,493 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of Brunswick by 37.1% in the third quarter. UBS Asset Management Americas Inc. now owns 1,058,388 shares of the company’s stock valued at $69,271,000 after purchasing an additional 286,428 shares during the period. Institutional investors own 93.12% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. StockNews.com started coverage on shares of Brunswick in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Citigroup cut their price objective on Brunswick from $106.00 to $100.00 in a research report on Monday. Jefferies Financial Group dropped their price target on Brunswick from $105.00 to $94.00 and set a “buy” rating on the stock in a research report on Friday, March 17th. KeyCorp assumed coverage on shares of Brunswick in a research note on Wednesday, April 19th. They issued an “overweight” rating and a $100.00 price objective on the stock. Finally, Raymond James cut their target price on shares of Brunswick from $100.00 to $94.00 in a research note on Friday, April 28th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.75.

Insider Activity at Brunswick

In other Brunswick news, VP Brenna Preisser sold 1,309 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $76.21, for a total transaction of $99,758.89. Following the transaction, the vice president now owns 52,174 shares of the company’s stock, valued at approximately $3,976,180.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO David M. Foulkes sold 13,000 shares of the stock in a transaction on Friday, May 5th. The stock was sold at an average price of $81.40, for a total value of $1,058,200.00. Following the transaction, the chief executive officer now owns 241,957 shares of the company’s stock, valued at approximately $19,695,299.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Brenna Preisser sold 1,309 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $76.21, for a total value of $99,758.89. Following the completion of the sale, the vice president now owns 52,174 shares of the company’s stock, valued at approximately $3,976,180.54. The disclosure for this sale can be found here. Insiders sold a total of 14,636 shares of company stock valued at $1,186,156 over the last quarter. Corporate insiders own 0.74% of the company’s stock.

Brunswick Trading Up 2.1 %

BC stock opened at $82.44 on Tuesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.86 and a quick ratio of 0.81. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 9.93 and a beta of 1.53. The business has a fifty day moving average price of $81.63 and a 200 day moving average price of $80.84. Brunswick Co. has a fifty-two week low of $63.42 and a fifty-two week high of $93.15.

Brunswick (NYSE:BC – Get Rating) last announced its earnings results on Thursday, April 27th. The company reported $2.57 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company posted $2.53 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Analysts expect that Brunswick Co. will post 10.41 EPS for the current fiscal year.

Brunswick Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Monday, May 15th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 12th. This represents a $1.60 annualized dividend and a dividend yield of 1.94%. Brunswick’s dividend payout ratio (DPR) is currently 19.28%.

Brunswick Company Profile

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Brunswick Corporation designs, manufactures, and markets recreation products worldwide. It operates through three segments: Propulsion, Parts & Accessories, and Boat. The Propulsion segment provides outboard, sterndrive, and inboard engines for independent boat builders and governments through marine dealers and distributors, specialty marine retailers, and marine service centers; and propulsion-related controls, rigging, and propellers to original equipment manufacturers and aftermarket retailers, distributors, and distribution businesses.

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Institutional Ownership by Quarter for Brunswick (NYSE:BC)

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