Brunswick (NYSE:BC) Cut to Neutral at B. Riley

B. Riley cut shares of Brunswick (NYSE:BC) from a buy rating to a neutral rating in a report issued on Tuesday, Marketbeat reports. The firm currently has $88.00 price objective on the stock, down from their previous price objective of $95.00.

A number of other equities analysts also recently commented on BC. Northcoast Research upgraded Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Monday, July 29th. Citigroup increased their price target on shares of Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Benchmark reissued a “buy” rating and issued a $100.00 price objective on shares of Brunswick in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Brunswick currently has an average rating of “Moderate Buy” and an average target price of $88.54.

Brunswick Price Performance

Shares of BC opened at $80.62 on Tuesday. The business’s 50-day moving average is $81.87 and its 200-day moving average is $78.77. Brunswick has a fifty-two week low of $69.05 and a fifty-two week high of $99.68. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 20.05 and a beta of 1.51. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.97 and a quick ratio of 0.74.

Brunswick Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 20th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, November 20th. Brunswick’s dividend payout ratio is 41.79%.

Insider Buying and Selling at Brunswick

In other news, Director Joseph W. Mcclanathan sold 4,745 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $80.14, for a total value of $380,264.30. Following the completion of the sale, the director now directly owns 19,218 shares of the company’s stock, valued at $1,540,130.52. This trade represents a 19.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO David M. Foulkes sold 23,829 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $80.22, for a total value of $1,911,562.38. Following the sale, the chief executive officer now directly owns 251,094 shares of the company’s stock, valued at $20,142,760.68. This represents a 8.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,940 shares of company stock worth $2,321,176. Corporate insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new stake in shares of Brunswick in the third quarter valued at approximately $26,000. Avior Wealth Management LLC raised its position in Brunswick by 1,073.7% in the third quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock valued at $56,000 after purchasing an additional 612 shares during the last quarter. Covestor Ltd boosted its position in Brunswick by 669.0% during the 3rd quarter. Covestor Ltd now owns 969 shares of the company’s stock worth $81,000 after buying an additional 843 shares during the period. GAMMA Investing LLC grew its stake in shares of Brunswick by 92.5% in the third quarter. GAMMA Investing LLC now owns 1,155 shares of the company’s stock worth $97,000 after purchasing an additional 555 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Brunswick by 47.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,511 shares of the company’s stock valued at $110,000 after buying an additional 483 shares during the last quarter. Institutional investors and hedge funds 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.