Magnetar Financial LLC Makes New $3.90 Million Investment in Brunswick Co. (NYSE:BC)

Magnetar Financial LLC acquired a new position in Brunswick Co. (NYSE:BC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 60,343 shares of the company’s stock, valued at approximately $3,903,000. Magnetar Financial LLC owned approximately 0.09% of Brunswick as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Armstrong Advisory Group Inc. bought a new stake in shares of Brunswick in the 4th quarter worth about $39,000. Financial Perspectives Inc bought a new stake in shares of Brunswick in the 4th quarter worth about $42,000. Avior Wealth Management LLC lifted its holdings in shares of Brunswick by 1,073.7% in the 3rd quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock worth $56,000 after acquiring an additional 612 shares during the last quarter. KBC Group NV lifted its holdings in shares of Brunswick by 21.7% in the 3rd quarter. KBC Group NV now owns 2,025 shares of the company’s stock worth $170,000 after acquiring an additional 361 shares during the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of Brunswick in the 3rd quarter worth about $313,000. 99.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. DA Davidson lowered their target price on shares of Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. Stifel Nicolaus decreased their price objective on shares of Brunswick from $95.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. B. Riley upgraded shares of Brunswick to a “hold” rating in a report on Wednesday, February 12th. Truist Financial decreased their price objective on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Benchmark decreased their price objective on shares of Brunswick from $100.00 to $90.00 and set a “buy” rating for the company in a report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Brunswick presently has an average rating of “Moderate Buy” and a consensus price target of $81.62.

Insider Transactions at Brunswick

In other news, Director Nancy E. Cooper sold 433 shares of Brunswick stock in a transaction that occurred 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 of the company’s stock, valued at $1,664,949.65. The trade was a 1.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Randall S. Altman sold 3,417 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 26,683 shares in the company, valued at approximately $1,686,632.43. This represents a 11.35 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

Brunswick Trading Down 0.7 %

NYSE BC opened at $56.38 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 29.68 and a beta of 1.54. The company’s 50-day simple moving average is $63.54 and its two-hundred day simple moving average is $72.73. Brunswick Co. has a one year low of $54.97 and a one year high of $96.65.

Brunswick (NYSE:BC) last posted its earnings results on Thursday, January 30th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. During the same quarter in the prior year, the business posted $1.45 EPS. Equities analysts forecast that Brunswick Co. will post 4.19 EPS for the current fiscal year.

Brunswick Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were given a $0.43 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.05%. This is an increase from Brunswick’s previous quarterly dividend of $0.42. Brunswick’s payout ratio is presently 90.53%.

Brunswick Company 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.