Russell Investments Group Ltd. decreased its holdings in Briggs & Stratton Corporation (NYSE:BGG) by 67.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,611 shares of the industrial products company’s stock after selling 98,997 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.11% of Briggs & Stratton worth $1,119,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in BGG. Aperio Group LLC lifted its stake in shares of Briggs & Stratton by 6.2% in the second quarter. Aperio Group LLC now owns 12,143 shares of the industrial products company’s stock worth $293,000 after acquiring an additional 706 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in Briggs & Stratton by 3.4% in the second quarter. Great West Life Assurance Co. Can now owns 61,568 shares of the industrial products company’s stock valued at $1,483,000 after buying an additional 2,000 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Briggs & Stratton by 7.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 383,865 shares of the industrial products company’s stock valued at $9,252,000 after buying an additional 26,004 shares during the last quarter. SG Americas Securities LLC increased its holdings in Briggs & Stratton by 12.3% in the second quarter. SG Americas Securities LLC now owns 8,157 shares of the industrial products company’s stock valued at $197,000 after buying an additional 895 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Briggs & Stratton by 9.7% in the second quarter. Legal & General Group Plc now owns 81,939 shares of the industrial products company’s stock valued at $1,975,000 after buying an additional 7,226 shares during the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.
Briggs & Stratton Corporation (NYSE:BGG) opened at $25.53 on Friday. The company has a market capitalization of $1,070.00, a P/E ratio of 19.95 and a beta of 0.78. Briggs & Stratton Corporation has a fifty-two week low of $20.00 and a fifty-two week high of $25.95. The company has a current ratio of 1.82, a quick ratio of 0.70 and a debt-to-equity ratio of 0.41.
Briggs & Stratton (NYSE:BGG) last posted its earnings results on Wednesday, October 25th. The industrial products company reported ($0.27) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.08. The company had revenue of $329.10 million during the quarter, compared to analyst estimates of $295.84 million. Briggs & Stratton had a return on equity of 11.38% and a net margin of 3.05%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.34) earnings per share. sell-side analysts predict that Briggs & Stratton Corporation will post 1.49 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Friday, December 15th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Thursday, December 14th. Briggs & Stratton’s dividend payout ratio (DPR) is presently 43.75%.
Several brokerages recently weighed in on BGG. Robert W. Baird reissued a “hold” rating and issued a $26.00 price objective on shares of Briggs & Stratton in a report on Tuesday. ValuEngine raised Briggs & Stratton from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research lowered Briggs & Stratton from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Finally, Raymond James Financial reissued an “underperform” rating on shares of Briggs & Stratton in a report on Tuesday, October 17th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $26.33.
In other news, SVP David J. Rodgers sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $24.28, for a total transaction of $437,040.00. Following the completion of the transaction, the senior vice president now directly owns 118,383 shares in the company, valued at $2,874,339.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Andrea L. Golvach sold 19,174 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $25.20, for a total value of $483,184.80. Following the transaction, the vice president now owns 27,197 shares of the company’s stock, valued at $685,364.40. The disclosure for this sale can be found here. Insiders have sold 97,174 shares of company stock valued at $2,360,825 over the last ninety days. Corporate insiders own 4.20% of the company’s stock.
Briggs & Stratton Company Profile
Briggs & Stratton Corporation is a producer of gasoline engines for outdoor power equipment. The Company designs, manufactures, markets, sells and services the various products for original equipment manufacturers (OEMs) around the world. It also markets and sells related service parts and accessories for its engines.
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