Briggs & Stratton (NYSE:BGG) Shares Down 4.9%

Briggs & Stratton Co. (NYSE:BGG) traded down 4.9% during trading on Wednesday . The stock traded as low as $5.45 and last traded at $5.21, 11,179 shares traded hands during trading. A decline of 99% from the average session volume of 943,638 shares. The stock had previously closed at $5.48.

Several research analysts have recently commented on the company. TheStreet lowered Briggs & Stratton from a “c-” rating to a “d” rating in a report on Thursday, August 15th. ValuEngine raised Briggs & Stratton from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 5th. Finally, Zacks Investment Research lowered Briggs & Stratton from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.00.

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.45. The company has a market cap of $229.22 million, a PE ratio of -17.31 and a beta of 1.26. The company has a fifty day moving average price of $5.35 and a 200 day moving average price of $9.47.

Briggs & Stratton (NYSE:BGG) last released its earnings results on Thursday, August 15th. The industrial products company reported ($0.36) earnings per share for the quarter, missing the Zacks’ 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 business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 EPS. As a group, sell-side analysts predict that Briggs & Stratton Co. will post 0.2 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, September 18th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.20 dividend on an annualized basis and a yield of 3.63%. Briggs & Stratton’s payout ratio is -62.50%.

In other news, VP Rachele Marie Lehr bought 6,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was bought at an average price of $4.35 per share, for a total transaction of $26,100.00. Following the transaction, the vice president now directly owns 45,570 shares of the company’s stock, valued at approximately $198,229.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeffrey Michael Zeiler bought 15,112 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average price of $6.31 per share, with a total value of $95,356.72. Following the transaction, the vice president now directly owns 90,195 shares in the company, valued at $569,130.45. The disclosure for this purchase can be found here. Insiders purchased a total of 109,112 shares of company stock valued at $500,707 in the last 90 days. 7.60% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its position in Briggs & Stratton by 408.6% in the second quarter. Morgan Stanley now owns 554,986 shares of the industrial products company’s stock valued at $5,683,000 after purchasing an additional 445,861 shares during the last quarter. Vanguard Group Inc. lifted its position in Briggs & Stratton by 8.7% in the second quarter. Vanguard Group Inc. now owns 4,396,640 shares of the industrial products company’s stock valued at $45,021,000 after purchasing an additional 352,274 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in Briggs & Stratton in the second quarter valued at approximately $2,586,000. Silvercrest Asset Management Group LLC lifted its position in Briggs & Stratton by 1,479.6% in the second quarter. Silvercrest Asset Management Group LLC now owns 173,754 shares of the industrial products company’s stock valued at $7,582,000 after purchasing an additional 162,754 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Briggs & Stratton by 1.3% in the second quarter. BlackRock Inc. now owns 6,527,781 shares of the industrial products company’s stock valued at $66,844,000 after purchasing an additional 85,670 shares during the last quarter. Institutional investors own 90.43% of the company’s stock.

Briggs & Stratton Company Profile (NYSE:BGG)

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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