Oregon Public Employees Retirement Fund acquired a new stake in shares of Briggs & Stratton Co. (NYSE:BGG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 16,121 shares of the industrial products company’s stock, valued at approximately $211,000.
Several other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in Briggs & Stratton by 2.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 60,955 shares of the industrial products company’s stock valued at $797,000 after buying an additional 1,400 shares during the last quarter. Arizona State Retirement System raised its position in Briggs & Stratton by 6.2% in the 4th quarter. Arizona State Retirement System now owns 65,279 shares of the industrial products company’s stock valued at $854,000 after buying an additional 3,790 shares during the last quarter. Teachers Advisors LLC raised its position in Briggs & Stratton by 5.3% in the 3rd quarter. Teachers Advisors LLC now owns 84,104 shares of the industrial products company’s stock valued at $1,617,000 after buying an additional 4,254 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in Briggs & Stratton by 38.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 17,409 shares of the industrial products company’s stock valued at $228,000 after buying an additional 4,820 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Briggs & Stratton by 6.6% in the 3rd quarter. Legal & General Group Plc now owns 100,521 shares of the industrial products company’s stock valued at $1,937,000 after buying an additional 6,264 shares during the last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Sidoti dropped their target price on Briggs & Stratton from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, December 6th. Zacks Investment Research lowered Briggs & Stratton from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 29th. ValuEngine lowered Briggs & Stratton from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 24th. Finally, Robert W. Baird set a $14.00 target price on Briggs & Stratton and gave the company a “hold” rating in a research report on Friday, January 25th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Briggs & Stratton has a consensus rating of “Hold” and a consensus price target of $17.50.
In related news, Director Frank M. Jaehnert purchased 10,000 shares of the stock in a transaction on Monday, January 28th. The shares were purchased at an average price of $12.04 per share, with a total value of $120,400.00. Following the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at $301,000. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 6.30% of the stock is owned by insiders.
NYSE:BGG opened at $12.62 on Friday. The company has a market cap of $531.37 million, a price-to-earnings ratio of 9.78 and a beta of 0.90. Briggs & Stratton Co. has a twelve month low of $11.34 and a twelve month high of $22.69. The company has a current ratio of 1.31, a quick ratio of 0.47 and a debt-to-equity ratio of 0.39.
Briggs & Stratton (NYSE:BGG) last posted its quarterly earnings results on Wednesday, January 23rd. The industrial products company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.05). The company had revenue of $505.50 million for the quarter, compared to analyst estimates of $461.71 million. Briggs & Stratton had a positive return on equity of 8.12% and a negative net margin of 1.24%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS. Research analysts forecast that Briggs & Stratton Co. will post 1.15 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Tuesday, March 19th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Monday, March 18th. Briggs & Stratton’s dividend payout ratio (DPR) is 43.41%.
Briggs & Stratton Profile
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.
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