Brunswick (NYSE:BC) Sets New 52-Week Low – Here’s Why

Brunswick Co. (NYSE:BC)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $55.40 and last traded at $55.54, with a volume of 1257379 shares changing hands. The stock had previously closed at $59.01.

Analyst Ratings Changes

Several research firms have recently issued reports on BC. Citigroup lowered their price objective on Brunswick from $92.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. DA Davidson lowered their price objective on Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Stifel Nicolaus decreased their target price on shares of Brunswick from $95.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Truist Financial decreased their target price on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, B. Riley raised shares of Brunswick to a “hold” rating in a research report on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.62.

Brunswick Price Performance

The stock has a market capitalization of $3.66 billion, a P/E ratio of 29.23 and a beta of 1.54. The business has a fifty day simple moving average of $65.53 and a 200-day simple moving average of $74.57. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65.

Brunswick (NYSE:BC) last issued its earnings results on Thursday, January 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. Brunswick had a return on equity of 15.41% and a net margin of 2.48%. During the same period in the previous year, the company posted $1.45 EPS. Sell-side analysts expect that Brunswick Co. will post 4.19 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 24th will be issued a $0.43 dividend. This is a boost from Brunswick’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Monday, February 24th. Brunswick’s dividend payout ratio (DPR) is currently 90.53%.

Insider Buying and Selling

In other Brunswick news, SVP Randall S. Altman sold 3,417 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total transaction of $215,988.57. Following the transaction, the senior vice president now directly owns 26,683 shares in the company, valued at approximately $1,686,632.43. This trade represents a 11.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nancy E. Cooper sold 433 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $65.65, for a total value of $28,426.45. Following the transaction, the director now owns 25,361 shares in the company, valued at approximately $1,664,949.65. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BC. Armstrong Advisory Group Inc. bought a new position in Brunswick in the 4th quarter worth about $39,000. Financial Perspectives Inc bought a new stake in shares of Brunswick during the 4th quarter valued at about $42,000. Quarry LP bought a new stake in shares of Brunswick during the 4th quarter valued at about $45,000. Avior Wealth Management LLC boosted its position in shares of Brunswick by 1,073.7% during the 3rd quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock valued at $56,000 after acquiring an additional 612 shares during the last quarter. Finally, Covestor Ltd boosted its position in shares of Brunswick by 669.0% during the 3rd quarter. Covestor Ltd now owns 969 shares of the company’s stock valued at $81,000 after acquiring an additional 843 shares during the last quarter. Institutional investors own 99.34% 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.