UBS Asset Management Americas Inc. Has $492,000 Stake in Briggs & Stratton Corporation (NYSE:BGG)

UBS Asset Management Americas Inc. increased its stake in shares of Briggs & Stratton Corporation (NYSE:BGG) by 87.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,907 shares of the industrial products company’s stock after buying an additional 10,209 shares during the period. UBS Asset Management Americas Inc. owned about 0.05% of Briggs & Stratton Corporation worth $492,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Comerica Bank raised its stake in Briggs & Stratton Corporation by 4.9% in the fourth quarter. Comerica Bank now owns 45,584 shares of the industrial products company’s stock valued at $997,000 after buying an additional 2,115 shares in the last quarter. State Street Corp raised its stake in Briggs & Stratton Corporation by 21.2% in the fourth quarter. State Street Corp now owns 1,061,080 shares of the industrial products company’s stock valued at $23,621,000 after buying an additional 185,887 shares in the last quarter. Guggenheim Capital LLC raised its stake in Briggs & Stratton Corporation by 30.8% in the fourth quarter. Guggenheim Capital LLC now owns 100,886 shares of the industrial products company’s stock valued at $2,245,000 after buying an additional 23,769 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Briggs & Stratton Corporation by 4.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 23,040 shares of the industrial products company’s stock valued at $513,000 after buying an additional 1,060 shares in the last quarter. Finally, Norges Bank acquired a new stake in Briggs & Stratton Corporation during the fourth quarter valued at about $14,664,000. 85.24% of the stock is owned by institutional investors.

Briggs & Stratton Corporation (NYSE BGG) traded down 1.97% on Friday, hitting $20.35. The stock had a trading volume of 565,079 shares. Briggs & Stratton Corporation has a 52-week low of $17.90 and a 52-week high of $25.92. The firm has a market cap of $855.96 million, a price-to-earnings ratio of 15.53 and a beta of 0.69. The company’s 50 day moving average price is $23.60 and its 200 day moving average price is $23.03.

Briggs & Stratton Corporation (NYSE:BGG) last announced its quarterly earnings results on Wednesday, August 16th. The industrial products company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.06. Briggs & Stratton Corporation had a net margin of 3.17% and a return on equity of 11.24%. The business had revenue of $474 million during the quarter, compared to the consensus estimate of $537.82 million. During the same period in the previous year, the business posted $0.46 EPS. The firm’s revenue was down 5.6% on a year-over-year basis. Analysts expect that Briggs & Stratton Corporation will post $1.49 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Thursday, September 14th. Briggs & Stratton Corporation’s payout ratio is 43.08%.

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BGG has been the subject of several research analyst reports. Zacks Investment Research raised Briggs & Stratton Corporation from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Tuesday, April 25th. BidaskClub lowered Briggs & Stratton Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th.

About Briggs & Stratton Corporation

Briggs & Stratton Corporation is a producer of gasoline engines for outdoor power equipment. The Company designs, manufactures, markets, sells and services the various products for original equipment manufacturers (OEMs) around the world. It also markets and sells related service parts and accessories for its engines.

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

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