Brunswick Co. (NYSE:BC) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its holdings in Brunswick Co. (NYSE:BC) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,249 shares of the company’s stock after selling 1,329 shares during the period. MetLife Investment Management LLC’s holdings in Brunswick were worth $2,871,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Brunswick in the third quarter valued at about $26,000. Avior Wealth Management LLC lifted its holdings in shares of Brunswick by 1,073.7% in the third quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock valued at $56,000 after purchasing an additional 612 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Brunswick by 669.0% in the third quarter. Covestor Ltd now owns 969 shares of the company’s stock valued at $81,000 after purchasing an additional 843 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Brunswick by 92.5% in the third quarter. GAMMA Investing LLC now owns 1,155 shares of the company’s stock valued at $97,000 after purchasing an additional 555 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Brunswick by 47.0% in the second quarter. Fifth Third Bancorp now owns 1,511 shares of the company’s stock valued at $110,000 after purchasing an additional 483 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Insiders Place Their Bets

In other news, Director Joseph W. Mcclanathan sold 4,745 shares of the stock in a transaction on Friday, October 25th. The shares were 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 of the company’s stock, valued at $1,540,130.52. This represents a 19.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nancy E. Cooper sold 366 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.19, for a total transaction of $29,349.54. Following the completion of the sale, the director now directly owns 24,557 shares of the company’s stock, valued at $1,969,225.83. The trade was a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,940 shares of company stock valued at $2,321,176 over the last quarter. Company insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on BC shares. B. Riley downgraded shares of Brunswick from a “buy” rating to a “neutral” rating and reduced their price target for the company from $95.00 to $88.00 in a report on Tuesday, November 26th. Benchmark reissued a “buy” rating and set a $100.00 price objective on shares of Brunswick in a research note on Friday, October 25th. Finally, Citigroup upped their price objective on shares of Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $88.54.

Brunswick Stock Performance

NYSE:BC opened at $79.47 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 1.97 and a debt-to-equity ratio of 1.17. The company has a market cap of $5.24 billion, a P/E ratio of 19.77 and a beta of 1.50. Brunswick Co. has a fifty-two week low of $69.05 and a fifty-two week high of $99.68. The firm’s 50 day moving average is $81.71 and its two-hundred day moving average is $78.69.

Brunswick Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, November 20th. Brunswick’s dividend payout ratio is currently 41.79%.

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.