LSV Asset Management lowered its stake in shares of Briggs & Stratton Co. (NYSE:BGG) by 1.7% in the first quarter, according to its most recent 13F filing with the Securities & 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 about 0.06% of Briggs & Stratton worth $27,413,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of BGG. Piedmont Investment Advisors Inc. bought a new position in shares of Briggs & Stratton during the 4th quarter valued at $132,000. BNP Paribas Arbitrage SA raised its holdings in shares of Briggs & Stratton by 96.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,828 shares of the industrial products company’s stock valued at $128,000 after purchasing an additional 5,329 shares in the last quarter. Prospera Financial Services Inc bought a new position in shares of Briggs & Stratton during the 1st quarter valued at $139,000. Municipal Employees Retirement System of Michigan bought a new position in shares of Briggs & Stratton during the 4th quarter valued at $158,000. Finally, Metropolitan Life Insurance Co. NY raised its holdings in shares of Briggs & Stratton by 336.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 14,426 shares of the industrial products company’s stock valued at $189,000 after purchasing an additional 11,121 shares in the last quarter. 84.01% of the stock is owned by institutional investors.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Briggs & Stratton from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 17th. ValuEngine upgraded shares of Briggs & Stratton from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Finally, Robert W. Baird set a $14.00 price target on shares of Briggs & Stratton and gave the company a “hold” rating in a 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 assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $17.50.
Briggs & Stratton (NYSE:BGG) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). The business had revenue of $580.20 million for the quarter, compared to the consensus estimate of $575.35 million. Briggs & Stratton had a negative net margin of 2.54% and a positive return on equity of 4.22%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 EPS. On average, research analysts expect that Briggs & Stratton Co. will post 0.49 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, June 19th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $0.56 annualized dividend and a yield of 5.54%. Briggs & Stratton’s dividend payout ratio (DPR) is presently 43.41%.
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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.
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