Spark Investment Management LLC purchased a new position in Briggs & Stratton Corporation (NYSE:BGG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 57,100 shares of the industrial products company’s stock, valued at approximately $1,376,000. Spark Investment Management LLC owned approximately 0.13% of Briggs & Stratton Corporation at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Briggs & Stratton Corporation by 26,045.7% in the first quarter. BlackRock Inc. now owns 5,666,301 shares of the industrial products company’s stock worth $127,209,000 after buying an additional 5,644,629 shares during the last quarter. Norges Bank bought a new stake in Briggs & Stratton Corporation during the fourth quarter worth $14,664,000. Bank of America Corp DE increased its stake in Briggs & Stratton Corporation by 79.6% in the first quarter. Bank of America Corp DE now owns 368,281 shares of the industrial products company’s stock worth $8,268,000 after buying an additional 163,210 shares during the last quarter. WBI Investments Inc. bought a new stake in Briggs & Stratton Corporation during the first quarter worth $2,932,000. Finally, JPMorgan Chase & Co. increased its stake in Briggs & Stratton Corporation by 13.8% in the first quarter. JPMorgan Chase & Co. now owns 1,017,069 shares of the industrial products company’s stock worth $22,833,000 after buying an additional 123,093 shares during the last quarter. 85.24% of the stock is owned by institutional investors and hedge funds.
Briggs & Stratton Corporation (NYSE:BGG) traded down 1.97% during trading on Friday, reaching $20.35. 565,079 shares of the company’s stock were exchanged. Briggs & Stratton Corporation has a 52-week low of $17.90 and a 52-week high of $25.92. The stock’s 50-day moving average price is $23.60 and its 200-day moving average price is $23.03. The company has a market capitalization of $855.96 million, a price-to-earnings ratio of 15.53 and a beta of 0.69.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a $0.14 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.75%. Briggs & Stratton Corporation’s payout ratio is 43.08%.
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A number of analysts have recently weighed in on BGG shares. Zacks Investment Research raised shares of Briggs & Stratton Corporation from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Tuesday, April 25th. BidaskClub downgraded shares of Briggs & Stratton Corporation from a “hold” rating to a “sell” rating in a report 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.
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