Capital One National Association boosted its stake in Briggs & Stratton Corporation (NYSE:BGG) by 3.8% during the third quarter, Holdings Channel reports. The fund owned 23,270 shares of the company’s stock after buying an additional 844 shares during the period. Capital One National Association owned about 0.05% of Briggs & Stratton Corporation worth $434,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its stake in shares of Briggs & Stratton Corporation by 19.7% in the third quarter. Nisa Investment Advisors LLC now owns 66,900 shares of the company’s stock valued at $1,248,000 after buying an additional 11,000 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Briggs & Stratton Corporation during the third quarter valued at $237,000. Salem Capital Management Inc. raised its stake in shares of Briggs & Stratton Corporation by 12.5% in the third quarter. Salem Capital Management Inc. now owns 197,475 shares of the company’s stock valued at $3,683,000 after buying an additional 21,900 shares during the last quarter. Mason Street Advisors LLC purchased a new stake in shares of Briggs & Stratton Corporation during the second quarter valued at $179,000. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Briggs & Stratton Corporation by 10.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 311,053 shares of the company’s stock valued at $6,589,000 after buying an additional 29,953 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.
Shares of Briggs & Stratton Corporation (NYSE:BGG) traded up 1.33% during mid-day trading on Wednesday, reaching $22.15. The company had a trading volume of 187,128 shares. The firm’s 50 day moving average is $22.10 and its 200-day moving average is $20.62. Briggs & Stratton Corporation has a 12-month low of $17.02 and a 12-month high of $24.48. The stock has a market capitalization of $948.20 million, a P/E ratio of 32.01 and a beta of 0.81.
Briggs & Stratton Corporation (NYSE:BGG) last released its quarterly earnings data on Wednesday, October 26th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.06. The firm had revenue of $286.80 million for the quarter, compared to analyst estimates of $276.96 million. Briggs & Stratton Corporation had a return on equity of 10.94% and a net margin of 1.69%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.35) earnings per share. On average, analysts expect that Briggs & Stratton Corporation will post $1.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th were paid a dividend of $0.14 per share. The ex-dividend date was Wednesday, December 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.53%. Briggs & Stratton Corporation’s dividend payout ratio (DPR) is currently 83.58%.
Separately, Zacks Investment Research lowered Briggs & Stratton Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Briggs & Stratton Corporation presently has an average rating of “Hold” and an average price target of $24.00.
In other news, SVP William H. Reitman sold 15,300 shares of the stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $19.84, for a total transaction of $303,552.00. Following the transaction, the senior vice president now owns 82,505 shares in the company, valued at $1,636,899.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Todd J. Teske sold 75,000 shares of the stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $20.52, for a total value of $1,539,000.00. Following the transaction, the chairman now owns 399,382 shares in the company, valued at approximately $8,195,318.64. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.
About Briggs & Stratton Corporation
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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