Nancy E. Cooper, a director at Brunswick Corp (NYSE:BC), recently executed a series of stock transactions according to a Form 4 filing with the Securities and Exchange Commission. On October 31, Cooper acquired 1,046 shares of Brunswick Corp common stock at a price of $79.74 per share, amounting to a total value of $83,408.
The following day, on November 1, she sold 366 shares at a price of $80.19 per share, resulting in a total transaction value of $29,349. After these transactions, Cooper holds 24,557 shares of Brunswick Corp, maintaining her position as a direct owner of the stock.
These transactions are part of Cooper's ongoing management of her holdings in the company, where she serves as a board director.
In other recent news, Brunswick Corporation announced in its Third Quarter 2024 Earnings Conference Call a 20% year-over-year decrease in net sales, and an adjusted earnings per share (EPS) of $1.17. Despite the challenging marine market, the company achieved market share gains and new product contributions. The company also amended its credit facility and commercial paper program to $1 billion each for improved capital flexibility and executed $190 million in share repurchases year-to-date. Brunswick anticipates a full-year decline of about 10% in new boat retail unit sales.
The company's propulsion segment saw a 32% sales drop, while Navico Group's sales decreased by 14%, and the boat business also experienced declines. However, the aftermarket parts business achieved record margins of 26%. Brunswick remains optimistic about the upcoming Fort Lauderdale Boat Show and new product launches. Looking forward, Brunswick expects steady market conditions for Q4, with guidance for net sales of $5.1 to $5.2 billion and an adjusted EPS of approximately $4.50. These are recent developments that investors should note.
InvestingPro Insights
To provide additional context to Nancy E. Cooper's recent stock transactions, let's examine some key financial metrics and insights for Brunswick Corp (NYSE:BC) from InvestingPro.
Brunswick Corp currently has a market capitalization of $5.35 billion, with a P/E ratio of 6.15. This relatively low P/E ratio could suggest that the stock is undervalued compared to its earnings, which might have influenced Cooper's decision to acquire additional shares.
According to InvestingPro Tips, Brunswick has maintained dividend payments for an impressive 54 consecutive years, demonstrating a strong commitment to shareholder returns. This long-standing dividend history aligns with Cooper's decision to increase her stake in the company. The current dividend yield stands at 2.11%, offering a steady income stream for investors.
However, it's worth noting that 15 analysts have revised their earnings downwards for the upcoming period, and the company's revenue is expected to decline in the current year. This could explain Cooper's decision to sell a portion of her newly acquired shares, possibly as a hedging strategy.
Despite these challenges, Brunswick Corp remains profitable, with a gross profit of $1.51 billion over the last twelve months as of Q3 2023. The company's liquid assets also exceed its short-term obligations, indicating a solid financial position.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights on Brunswick Corp. In fact, there are 8 more InvestingPro Tips available for this stock, providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.