Chartwell Investment Partners LLC Purchases New Position in Brunswick Co. (NYSE:BC)

Chartwell Investment Partners LLC bought a new stake in shares of Brunswick Co. (NYSE:BC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 20,090 shares of the company’s stock, valued at approximately $1,684,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BC. M&G Plc lifted its holdings in shares of Brunswick by 15.1% in the 2nd quarter. M&G Plc now owns 55,218 shares of the company’s stock valued at $4,031,000 after acquiring an additional 7,261 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Brunswick by 11.4% during the first quarter. Russell Investments Group Ltd. now owns 82,356 shares of the company’s stock worth $7,942,000 after purchasing an additional 8,456 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Brunswick by 2.3% during the first quarter. Vanguard Group Inc. now owns 7,266,170 shares of the company’s stock worth $701,331,000 after purchasing an additional 160,531 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in Brunswick by 292.5% in the second quarter. Harbor Capital Advisors Inc. now owns 9,224 shares of the company’s stock valued at $671,000 after buying an additional 6,874 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of Brunswick during the first quarter worth about $19,304,000. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Brunswick Stock Performance

BC opened at $80.38 on Wednesday. The company has a market cap of $5.30 billion, a PE ratio of 20.00 and a beta of 1.51. The stock has a 50-day moving average of $81.16 and a 200-day moving average of $78.81. Brunswick Co. has a 52-week low of $69.05 and a 52-week high of $99.68. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 1.97.

Brunswick Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.68 annualized dividend and a yield of 2.09%. Brunswick’s payout ratio is 41.79%.

Insider Activity at Brunswick

In related news, Director Joseph W. Mcclanathan sold 4,745 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $80.14, for a total transaction of $380,264.30. Following the completion of the sale, the director now owns 19,218 shares in the company, valued at $1,540,130.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Brunswick 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 owns 19,218 shares in the company, valued at approximately $1,540,130.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David M. Foulkes sold 23,829 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $80.22, for a total value of $1,911,562.38. Following the completion of the sale, the chief executive officer now owns 251,094 shares of the company’s stock, valued at $20,142,760.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,940 shares of company stock worth $2,321,176 in the last 90 days. 0.81% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BC shares. Citigroup boosted their target price on shares of Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, September 27th. Roth Mkm reiterated a “buy” rating and set a $94.00 price target on shares of Brunswick in a research note on Thursday, July 25th. Robert W. Baird reduced their target price on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Jefferies Financial Group restated a “hold” rating and set a $70.00 target price (down from $115.00) on shares of Brunswick in a report on Friday, July 26th. Finally, Northcoast Research upgraded shares of Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Monday, July 29th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Brunswick presently has an average rating of “Moderate Buy” and a consensus price target of $89.23.

Brunswick Profile

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.