Oregon Public Employees Retirement Fund acquired a new position in shares of Briggs & Stratton Co. (NYSE:BGG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,121 shares of the industrial products company’s stock, valued at approximately $211,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Briggs & Stratton by 1.3% during the third quarter. Vanguard Group Inc. now owns 4,281,700 shares of the industrial products company’s stock worth $82,337,000 after acquiring an additional 55,070 shares in the last quarter. Vanguard Group Inc increased its stake in shares of Briggs & Stratton by 1.3% in the third quarter. Vanguard Group Inc now owns 4,281,700 shares of the industrial products company’s stock valued at $82,337,000 after buying an additional 55,070 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Briggs & Stratton by 0.7% in the third quarter. Dimensional Fund Advisors LP now owns 3,606,931 shares of the industrial products company’s stock valued at $69,362,000 after buying an additional 26,237 shares in the last quarter. Brandes Investment Partners LP increased its stake in shares of Briggs & Stratton by 0.8% in the third quarter. Brandes Investment Partners LP now owns 2,550,049 shares of the industrial products company’s stock valued at $49,037,000 after buying an additional 20,708 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of Briggs & Stratton by 1.3% in the fourth quarter. LSV Asset Management now owns 2,356,917 shares of the industrial products company’s stock valued at $30,828,000 after buying an additional 31,300 shares in the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.
A number of analysts have recently weighed in on the company. Sidoti lowered their target price on Briggs & Stratton from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, December 6th. Zacks Investment Research lowered Briggs & Stratton from a “buy” rating to a “hold” rating in a research note on Monday, December 31st. Robert W. Baird set a $14.00 target price on Briggs & Stratton and gave the company a “hold” rating in a research note on Friday, January 25th. Finally, ValuEngine lowered Briggs & Stratton from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 24th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Briggs & Stratton currently has an average rating of “Hold” and an average target price of $17.50.
In other news, Director Frank M. Jaehnert purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 28th. The shares were acquired at an average price of $12.04 per share, for a total transaction of $120,400.00. Following the completion of the acquisition, the director now directly owns 25,000 shares in the company, valued at $301,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.30% of the stock is owned by company insiders.
Shares of NYSE:BGG opened at $12.62 on Friday. Briggs & Stratton Co. has a twelve month low of $11.34 and a twelve month high of $22.69. The firm has a market capitalization of $531.37 million, a PE ratio of 9.78 and a beta of 0.90. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.31 and a quick ratio of 0.47.
Briggs & Stratton (NYSE:BGG) last posted its quarterly earnings results on Wednesday, January 23rd. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.05). The firm had revenue of $505.50 million during the quarter, compared to the consensus estimate of $461.71 million. Briggs & Stratton had a negative net margin of 1.24% and a positive return on equity of 8.12%. Briggs & Stratton’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 EPS. Equities analysts anticipate that Briggs & Stratton Co. will post 1.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Tuesday, March 19th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.44%. The ex-dividend date is Monday, March 18th. Briggs & Stratton’s dividend payout ratio is 43.41%.
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About Briggs & Stratton
Briggs & Stratton Corporation designs, manufactures, markets, sells, and services gasoline engines for outdoor power equipment to the original equipment manufacturers in the United States. It operates in two segments, Engines and Products. The Engines segment offers four-cycle aluminum alloy gasoline engines that are used primarily by the lawn and garden equipment industry.
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