LSV Asset Management decreased its position in shares of Briggs & Stratton Co. (NYSE:BGG) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,317,317 shares of the industrial products company’s stock after selling 39,600 shares during the period. LSV Asset Management owned 5.50% of Briggs & Stratton worth $27,413,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Briggs & Stratton by 1.3% during the third quarter. Vanguard Group Inc. now owns 4,281,700 shares of the industrial products company’s stock worth $82,337,000 after buying an additional 55,070 shares during the period. Brandes Investment Partners LP boosted its stake in Briggs & Stratton by 44.0% during the fourth quarter. Brandes Investment Partners LP now owns 3,672,694 shares of the industrial products company’s stock worth $48,039,000 after buying an additional 1,122,645 shares during the period. Bank of New York Mellon Corp boosted its stake in Briggs & Stratton by 11.2% during the fourth quarter. Bank of New York Mellon Corp now owns 781,776 shares of the industrial products company’s stock worth $10,225,000 after buying an additional 78,981 shares during the period. Peregrine Capital Management LLC boosted its stake in Briggs & Stratton by 22.7% during the first quarter. Peregrine Capital Management LLC now owns 720,556 shares of the industrial products company’s stock worth $8,524,000 after buying an additional 133,540 shares during the period. Finally, Norges Bank purchased a new position in Briggs & Stratton during the fourth quarter worth $8,809,000. Institutional investors own 84.47% of the company’s stock.
BGG has been the subject of several research analyst reports. ValuEngine upgraded Briggs & Stratton from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Zacks Investment Research upgraded Briggs & Stratton from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.50.
Briggs & Stratton stock traded down $0.10 during trading hours on Friday, reaching $10.15. The stock had a trading volume of 342,980 shares, compared to its average volume of 448,423. The company has a market capitalization of $421.00 million, a PE ratio of 7.87 and a beta of 1.07. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.50 and a current ratio of 1.34. Briggs & Stratton Co. has a 52 week low of $9.35 and a 52 week high of $21.40.
Briggs & Stratton (NYSE:BGG) last announced its earnings results on Thursday, April 25th. The industrial products company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.32). Briggs & Stratton had a positive return on equity of 4.22% and a negative net margin of 2.54%. The firm had revenue of $580.20 million during the quarter, compared to the consensus estimate of $575.35 million. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, equities analysts predict that Briggs & Stratton Co. will post 0.49 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 19th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.52%. Briggs & Stratton’s payout ratio 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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