PVG Asset Management Corp Has $762,000 Position in Briggs & Stratton Co. (NYSE:BGG)

PVG Asset Management Corp lifted its position in shares of Briggs & Stratton Co. (NYSE:BGG) by 378.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,510 shares of the industrial products company’s stock after buying an additional 58,930 shares during the period. PVG Asset Management Corp owned about 0.18% of Briggs & Stratton worth $762,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Texas Permanent School Fund raised its position in shares of Briggs & Stratton by 3.1% in the 1st quarter. Texas Permanent School Fund now owns 28,589 shares of the industrial products company’s stock worth $338,000 after acquiring an additional 850 shares in the last quarter. Comerica Bank increased its position in Briggs & Stratton by 2.6% in the 1st quarter. Comerica Bank now owns 41,969 shares of the industrial products company’s stock valued at $530,000 after buying an additional 1,051 shares in the last quarter. Glen Harbor Capital Management LLC increased its position in Briggs & Stratton by 14.4% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 10,268 shares of the industrial products company’s stock valued at $105,000 after buying an additional 1,292 shares in the last quarter. TD Asset Management Inc. increased its position in Briggs & Stratton by 22.8% in the 1st quarter. TD Asset Management Inc. now owns 13,961 shares of the industrial products company’s stock valued at $165,000 after buying an additional 2,593 shares in the last quarter. Finally, Strs Ohio boosted its stake in Briggs & Stratton by 7.5% during the 2nd quarter. Strs Ohio now owns 45,700 shares of the industrial products company’s stock valued at $467,000 after purchasing an additional 3,200 shares during the last quarter. 90.36% of the stock is owned by institutional investors.

Shares of Briggs & Stratton stock traded up $0.03 during trading on Friday, hitting $6.26. The stock had a trading volume of 297,599 shares, compared to its average volume of 964,149. The firm has a market cap of $271.45 million, a price-to-earnings ratio of -19.56 and a beta of 1.23. Briggs & Stratton Co. has a 12 month low of $3.96 and a 12 month high of $20.84. The business’s 50-day moving average is $6.21 and its 200 day moving average is $9.95. The company has a current ratio of 1.32, a quick ratio of 0.45 and a debt-to-equity ratio of 0.44.



Briggs & Stratton (NYSE:BGG) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.82). The firm had revenue of $471.95 million during the quarter, compared to the consensus estimate of $519.87 million. Briggs & Stratton had a negative return on equity of 2.61% and a negative net margin of 2.95%. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 EPS. As a group, equities analysts expect that Briggs & Stratton Co. will post 0.2 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 18th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.20 dividend on an annualized basis and a yield of 3.19%. Briggs & Stratton’s dividend payout ratio is presently -62.50%.

In other Briggs & Stratton news, Director Frank M. Jaehnert purchased 40,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was acquired at an average cost of $4.39 per share, for a total transaction of $175,600.00. Following the completion of the transaction, the director now directly owns 70,479 shares in the company, valued at approximately $309,402.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jeffrey Michael Zeiler purchased 15,112 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were acquired at an average price of $6.31 per share, with a total value of $95,356.72. Following the completion of the transaction, the vice president now owns 90,195 shares of the company’s stock, valued at $569,130.45. The disclosure for this purchase can be found here. In the last three months, insiders purchased 109,112 shares of company stock worth $500,707. 7.60% of the stock is owned by insiders.

A number of equities analysts have issued reports on the company. ValuEngine upgraded Briggs & Stratton from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 5th. TheStreet downgraded Briggs & Stratton from a “c-” rating to a “d” rating in a research note on Thursday, August 15th. Finally, Zacks Investment Research downgraded Briggs & Stratton from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $17.50.

Briggs & Stratton Profile

Briggs & Stratton Corporation designs, manufactures, markets, sells, and services gasoline engines for outdoor power equipment to the original equipment manufacturers in the United States. It operates in two segments, Engines and Products. The Engines segment offers four-cycle aluminum alloy gasoline engines that are used primarily by the lawn and garden equipment industry.

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Institutional Ownership by Quarter for Briggs & Stratton (NYSE:BGG)

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