Brunswick (NYSE:BC) Sets New 52-Week Low – Time to Sell?

Brunswick Co. (NYSE:BC) reached a new 52-week low during trading on Monday . The stock traded as low as $63.08 and last traded at $63.74, with a volume of 88142 shares traded. The stock had previously closed at $64.70.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Benchmark reissued a “buy” rating and set a $100.00 target price on shares of Brunswick in a research report on Friday, October 25th. B. Riley lowered Brunswick from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $95.00 to $88.00 in a report on Tuesday, November 26th. Finally, Citigroup boosted their target price on Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Brunswick presently has an average rating of “Moderate Buy” and an average price target of $88.54.

Brunswick Trading Down 0.9 %

The stock has a 50-day simple moving average of $77.63 and a 200 day simple moving average of $77.72. The company has a current ratio of 1.97, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 15.95 and a beta of 1.50.

Brunswick Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 20th were given a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.68 dividend on an annualized basis and a yield of 2.62%. Brunswick’s dividend payout ratio is currently 41.79%.

Insider Buying and Selling

In other Brunswick news, CEO David M. Foulkes sold 23,829 shares of the business’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 transaction, the chief executive officer now directly owns 251,094 shares of the company’s stock, valued at approximately $20,142,760.68. The trade was a 8.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $380,264.30. Following the sale, the director now directly owns 19,218 shares in the company, valued at $1,540,130.52. The trade was a 19.80 % 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. 0.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Brunswick

Large investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Brunswick by 3.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,631 shares of the company’s stock valued at $1,065,000 after purchasing an additional 494 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in shares of Brunswick during the 2nd quarter worth approximately $283,000. Van ECK Associates Corp lifted its position in shares of Brunswick by 18.7% during the 2nd quarter. Van ECK Associates Corp now owns 87,218 shares of the company’s stock valued at $6,347,000 after buying an additional 13,748 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Brunswick by 108.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,979 shares of the company’s stock valued at $282,000 after acquiring an additional 2,067 shares during the period. Finally, Hodges Capital Management Inc. increased its holdings in Brunswick by 0.3% in the 2nd quarter. Hodges Capital Management Inc. now owns 117,427 shares of the company’s stock worth $8,545,000 after acquiring an additional 329 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

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.