Lord Abbett & CO. LLC Has $57.33 Million Stock Holdings in Brunswick Co. (NYSE:BC)

Lord Abbett & CO. LLC grew its holdings in shares of Brunswick Co. (NYSE:BC) by 50.2% in the third quarter, Holdings Channel reports. The institutional investor owned 683,943 shares of the company’s stock after acquiring an additional 228,662 shares during the period. Lord Abbett & CO. LLC’s holdings in Brunswick were worth $57,328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in Brunswick by 0.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 26,731 shares of the company’s stock valued at $2,241,000 after buying an additional 145 shares during the last quarter. Inspire Investing LLC increased its position in shares of Brunswick by 2.8% during the third quarter. Inspire Investing LLC now owns 5,545 shares of the company’s stock valued at $465,000 after acquiring an additional 153 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Brunswick by 3.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,647 shares of the company’s stock worth $390,000 after acquiring an additional 174 shares during the period. CWM LLC boosted its position in Brunswick by 21.6% in the third quarter. CWM LLC now owns 1,323 shares of the company’s stock worth $111,000 after purchasing an additional 235 shares during the last quarter. Finally, US Bancorp DE grew its stake in Brunswick by 3.0% in the 3rd quarter. US Bancorp DE now owns 8,214 shares of the company’s stock valued at $689,000 after purchasing an additional 241 shares during the period. 99.34% of the stock is owned by institutional investors.

Brunswick Price Performance

BC stock opened at $73.59 on Friday. The firm has a 50 day moving average of $80.67 and a 200-day moving average of $78.49. 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 firm has a market capitalization of $4.86 billion, a P/E ratio of 18.31 and a beta of 1.50. Brunswick Co. has a 12 month low of $69.05 and a 12 month high of $99.68.

Brunswick Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.28%. Brunswick’s dividend payout ratio (DPR) is currently 41.79%.

Insider Transactions at Brunswick

In related news, Director Nancy E. Cooper sold 366 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.19, for a total value of $29,349.54. Following the transaction, the director now directly owns 24,557 shares in the company, valued at approximately $1,969,225.83. This represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph W. Mcclanathan sold 4,745 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $80.14, for a total transaction of $380,264.30. Following the completion of the sale, the director now directly owns 19,218 shares in the company, valued at $1,540,130.52. This represents a 19.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,940 shares of company stock valued at $2,321,176. 0.81% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.