SG Americas Securities LLC Increases Holdings in Briggs & Stratton Co. (BGG)

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SG Americas Securities LLC increased its stake in shares of Briggs & Stratton Co. (NYSE:BGG) by 59.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,272 shares of the industrial products company’s stock after purchasing an additional 4,212 shares during the period. SG Americas Securities LLC’s holdings in Briggs & Stratton were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Two Sigma Investments LP increased its stake in shares of Briggs & Stratton by 149.7% in the fourth quarter. Two Sigma Investments LP now owns 218,677 shares of the industrial products company’s stock worth $5,548,000 after purchasing an additional 131,118 shares in the last quarter. Two Sigma Advisers LP increased its stake in shares of Briggs & Stratton by 76.6% in the fourth quarter. Two Sigma Advisers LP now owns 246,320 shares of the industrial products company’s stock worth $6,249,000 after purchasing an additional 106,862 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Briggs & Stratton by 128.0% during the fourth quarter. Alliancebernstein L.P. now owns 130,575 shares of the industrial products company’s stock worth $3,313,000 after acquiring an additional 73,310 shares during the last quarter. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Briggs & Stratton during the fourth quarter worth $1,719,000. Finally, American Century Companies Inc. bought a new position in shares of Briggs & Stratton during the fourth quarter worth $1,642,000. 81.90% of the stock is owned by hedge funds and other institutional investors.

Briggs & Stratton opened at $18.23 on Friday, Marketbeat Ratings reports. The company has a current ratio of 1.61, a quick ratio of 0.71 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $780.35 million, a P/E ratio of 13.92 and a beta of 0.71. Briggs & Stratton Co. has a 12 month low of $17.11 and a 12 month high of $27.34.

Briggs & Stratton (NYSE:BGG) last posted its earnings results on Wednesday, April 25th. The industrial products company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Briggs & Stratton had a net margin of 1.09% and a return on equity of 10.11%. The business had revenue of $604.00 million for the quarter, compared to the consensus estimate of $616.19 million. During the same quarter last year, the firm posted $0.83 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. equities research analysts expect that Briggs & Stratton Co. will post 1.31 EPS for the current fiscal year.

Briggs & Stratton announced that its Board of Directors has approved a stock repurchase plan on Wednesday, April 25th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the industrial products company to purchase up to 5.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Thursday, June 14th. Briggs & Stratton’s dividend payout ratio is currently 42.75%.

In other news, Director Frank M. Jaehnert purchased 5,000 shares of the stock in a transaction dated Tuesday, May 1st. The shares were acquired at an average cost of $17.50 per share, for a total transaction of $87,500.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $175,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.20% of the stock is currently owned by company insiders.

A number of brokerages recently weighed in on BGG. Zacks Investment Research lowered shares of Briggs & Stratton from a “hold” rating to a “sell” rating in a research report on Thursday, April 26th. ValuEngine lowered shares of Briggs & Stratton from a “hold” rating to a “sell” rating in a report on Friday, April 27th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Briggs & Stratton presently has an average rating of “Hold” and an average price target of $28.50.

About Briggs & Stratton

Briggs & Stratton Corporation designs, manufactures, markets, sells, and services gasoline engines for outdoor power equipment to the original equipment manufacturers in the United States. It operates in two segments, Engines and Products. The Engines segment offers four-cycle aluminum alloy gasoline engines that are used primarily by the lawn and garden equipment industry.

Institutional Ownership by Quarter for Briggs & Stratton (NYSE:BGG)

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