Alliancebernstein L.P. Has $1.50 Million Stake in Briggs & Stratton Corporation (BGG)

Alliancebernstein L.P. cut its position in Briggs & Stratton Corporation (NYSE:BGG) by 54.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 66,665 shares of the industrial products company’s stock after selling 79,280 shares during the period. Alliancebernstein L.P. owned approximately 0.16% of Briggs & Stratton Corporation worth $1,497,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its position in Briggs & Stratton Corporation by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 4,750 shares of the industrial products company’s stock worth $106,000 after buying an additional 80 shares during the last quarter. Mason Street Advisors LLC boosted its position in Briggs & Stratton Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 10,010 shares of the industrial products company’s stock worth $225,000 after buying an additional 655 shares during the last quarter. Karp Capital Management Corp purchased a new position in Briggs & Stratton Corporation during the first quarter worth about $257,000. TD Asset Management Inc. boosted its position in Briggs & Stratton Corporation by 7.2% in the first quarter. TD Asset Management Inc. now owns 12,825 shares of the industrial products company’s stock worth $288,000 after buying an additional 856 shares during the last quarter. Finally, Nine Chapters Capital Management LLC purchased a new position in Briggs & Stratton Corporation during the first quarter worth about $330,000. Hedge funds and other institutional investors own 85.24% of the company’s stock.

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

Briggs & Stratton Corporation (NYSE:BGG) last issued its earnings results on Wednesday, August 16th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.06. Briggs & Stratton Corporation had a return on equity of 11.24% and a net margin of 3.17%. The firm had revenue of $474 million during the quarter, compared to the consensus estimate of $537.82 million. During the same period last year, the firm posted $0.46 earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, analysts anticipate that Briggs & Stratton Corporation will post $1.49 earnings per share for the current year.

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

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A number of equities analysts have recently issued reports on the company. Zacks Investment Research cut Briggs & Stratton Corporation from a “buy” rating to a “hold” rating in a report on Thursday. BidaskClub upgraded Briggs & Stratton Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th.

Briggs & Stratton Corporation Company Profile

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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