BGGSQ Briggs & Stratton

Briggs & Stratton Corp. engages in the design, manufacture, and distribution of gasoline engines and outdoor powered equipment. It operates through Engines and Products segments. The Engines segment produces four-cycle aluminum alloy gasoline engines which are used in the production of walk-behind and riding lawn mowers, garden tillers, and snow throwers. The Products segment comprises lawn and garden power equipment, turf care products, portable and standby generators, pressure washers, snow throwers, and job site products. The company was founded by Stephen F. Briggs and Harold M. Stratton in 1908 and is headquartered in Wauwatosa, WI.
Company profile
Ticker
BGGSQ, BGGSQ
Exchange
Website
CEO
Todd Teske
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
IRS number
390182330
BGGSQ stock data
()
Calendar
14 Sep 20
13 Apr 21
28 Jun 21
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
24 Dec 20 | Walker Brian C | Common Stock | Sell | Dispose S | No | No | 0 | 2,400 | 0 | 0 |
22 Dec 20 | Henrik C Slipsager | Common Stock | Sell | Dispose S | No | No | 0 | 20,000 | 0 | 0 |
5 Nov 20 | Walker Brian C | Common Stock | Sell | Dispose S | No | No | 0 | 5,479 | 0 | 2,400 |
23 Oct 20 | Teske Todd J | Common Stock | Discretionary | Dispose I | Yes | No | 0 | 2,505 | 0 | 0 |
22 Oct 20 | Teske Todd J | Common Stock | Sell | Dispose S | No | No | 0 | 4,155 | 0 | 227,200 |
30 Sep 20 | Teske Todd J | Common Stock | Sell | Dispose S | No | No | 0 | 27,907 | 0 | 231,355 |
28 Sep 20 | Teske Todd J | Common Stock | Sell | Dispose S | No | No | 0 | 270,259 | 0 | 259,262 |
Institutional ownership Q3 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
1.2% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 13 |
Opened positions | 3 |
Closed positions | 108 |
Increased positions | 0 |
Reduced positions | 4 |
13F shares |
Current |
---|---|
Total value | 137K |
Total shares | 527.82K |
Total puts | 0 |
Total calls | 112.2K |
Total put/call ratio | – |
Largest owners |
Shares | Value |
---|---|---|
HRT Financial | 243.25K | $63K |
KBCSF KBC | 155.45K | $41K |
California Public Employees Retirement System | 83.9K | $22K |
Parametric Portfolio Associates | 34.06K | $9K |
Founders Financial Alliance | 7K | $1K |
BCS Barclays | 3.52K | $1K |
JNBA Financial Advisors | 275 | $0 |
West Oak Capital | 200 | $0 |
Rockefeller Capital Management | 133 | $0 |
Meeder Asset Management | 36 | $0 |
Financial report summary
?Competition
Honda MotorRisks
- Demand for products fluctuates significantly due to seasonality. In addition, changes in the weather and consumer confidence impact demand.
- We have only a limited ability to pass through cost increases in our raw materials to our customers during the year.
- A significant portion of our net sales comes from major customers and the loss of any of these customers would negatively impact our financial results.
- A significant change or disruption in the U.S. retail market for lawn and garden products could have an adverse impact on our business.
- Changes in environmental, tax, health care or other laws and regulations could require extensive changes in our operations or to our products.
- Our international operations are subject to risks and uncertainties, which could adversely affect our business or financial results.
- Actions of our competitors could reduce our sales or profits.
- We are restricted by the terms of the outstanding Senior Notes and our other debt, which could adversely affect us.
- Our level of debt and our ability to obtain debt financing could adversely affect our operating flexibility and put us at a competitive disadvantage.
- Disruptions caused by labor disputes or organized labor activities or an inability to acquire and retain skill sets needed could harm our business and reputation.
- Worldwide economic conditions may adversely affect our industry, business and results of operations.
- We have goodwill and intangible assets, which were written down in fiscal 2016 and in prior years. If we determine that goodwill and other intangible assets have become further impaired in the future, net income in such years would be adversely affected.
- We are subject to litigation, including product liability, patent infringement, and warranty claims, that may adversely affect our business and results of operations.
- Our pension and postretirement benefit plan obligations are currently underfunded, and we may have to make significant cash payments to some or all of these plans, which would reduce the cash available for our businesses.
- Our dependence on, and the price of, raw materials may adversely affect our profits.
- We may be adversely affected by health and safety laws and regulations.
- The operations and success of our Company can be impacted by natural disasters, terrorism, acts of war, international conflict and political and governmental actions, which could harm our business.
- We are subject to tax laws and regulations in many jurisdictions, and the inability to successfully defend claims from taxing authorities could adversely affect our operating results and financial position.
- If we fail to remain current with changes in gasoline engine technology or if the technology becomes less important to customers in our markets due to the impact of alternative fuels or power sources, our results may be negatively affected. In addition, if we are unable to continue to enhance existing products, as well as develop and market new products, that respond to customer needs and preferences and achieve market acceptance, our results may be negatively impacted.
- Through our Products segment, we compete with certain customers of our Engines segment, thereby creating inherent channel conflict that may impact the actions of engine manufacturers and OEMs with whom we compete.
- The financial stability of our suppliers and the ability of our suppliers to produce quality materials could adversely affect our ability to obtain timely and cost-effective raw materials.
- An inability to successfully manage information systems, or to adequately maintain these systems and their security, as well as to protect data and other confidential information, could adversely affect our business and reputation.
- We have implemented, and Wisconsin law contains, anti-takeover provisions that may adversely affect the rights of holders of our common stock.
- Our common stock is subject to substantial price and volume fluctuations.
Management Discussion
- (1) For the third quarter of fiscal 2020, engine manufacturing consolidation charges include $4.0 million ($1.0 million after tax) of cash charges and $2.2 million ($0.6 million after tax) of non-cash charges related to the closure of the engine plant in Murray, Kentucky. Business optimization expenses include $2.8 million ($0.7 million after tax) of cash charges and $0.9 million ($0.2 million after tax) to the warehouse optimization program and the plan to onshore Commercial engine production. Goodwill Impairment charges include $67.5 million ($67.5 million after tax) of non-cash impairment charges related to the impairment of Job Site and Engines goodwill. Gross profit includes $1.7 million ($0.4 million after tax) related to the settlement of a product liability matter. ESG&A includes $1.3 million ($0.3 million after tax) related to business realignment. Tax expense includes a $70.3. million charge to record a valuation allowance against deferred tax assets and a $7.5 million benefit as a result of the Coronavirus Aid and Relief and Economic Security Act (CARES Act).
Content analysis
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Removed:
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Financial reports
NT 10-K
Notice of late annual filing
14 Sep 20
10-Q
2020 Q3
Quarterly report
8 May 20
10-Q
2020 Q2
Quarterly report
4 Feb 20
10-Q
2020 Q1
Quarterly report
5 Nov 19
10-K
2019 FY
Annual report
27 Aug 19
10-Q
2019 Q3
Quarterly report
7 May 19
10-Q
2019 Q2
Quarterly report
5 Feb 19
10-Q
2019 Q1
Quarterly report
6 Nov 18
10-K
2018 FY
Annual report
27 Aug 18
10-Q
2018 Q3
Quarterly report
8 May 18
Current reports
8-K
Other Events
6 Jan 21
8-K
Regulation FD Disclosure
21 Dec 20
8-K
Regulation FD Disclosure
7 Dec 20
8-K
Regulation FD Disclosure
23 Nov 20
8-K
Regulation FD Disclosure
9 Nov 20
8-K
Regulation FD Disclosure
21 Oct 20
8-K
Regulation FD Disclosure
13 Oct 20
8-K
Completion of Acquisition or Disposition of Assets
21 Sep 20
8-K
Regulation FD Disclosure
16 Sep 20
8-K
Departure of Directors or Certain Officers
18 Aug 20
Registration and prospectus
15-12B
Securities registration termination
22 Jan 21
S-8 POS
Registration of securities for employees (post-effective amendment)
5 Jan 21
S-8 POS
Registration of securities for employees (post-effective amendment)
5 Jan 21
S-8 POS
Registration of securities for employees (post-effective amendment)
5 Jan 21
S-8 POS
Registration of securities for employees (post-effective amendment)
5 Jan 21
25-NSE
Exchange delisting
4 Aug 20
S-8 POS
Registration of securities for employees (post-effective amendment)
2 Nov 17
S-8 POS
Registration of securities for employees (post-effective amendment)
2 Nov 17
S-8 POS
Registration of securities for employees (post-effective amendment)
2 Nov 17
S-8
Registration of securities for employees
2 Nov 17
Proxies
DEFA14A
Additional proxy soliciting materials
9 Sep 19
DEF 14A
Definitive proxy
9 Sep 19
DEFA14A
Additional proxy soliciting materials
6 Sep 18
DEF 14A
Definitive proxy
6 Sep 18
DEF 14A
Definitive proxy
7 Sep 17
DEFA14A
Additional proxy soliciting materials
7 Sep 17
DEFA14A
Additional proxy soliciting materials
8 Sep 16
DEF 14A
Definitive proxy
8 Sep 16
DEFA14A
Additional proxy soliciting materials
8 Sep 15
DEF 14A
Definitive proxy
8 Sep 15
Other
SD
Conflict minerals disclosure
28 May 20
UPLOAD
Letter from SEC
29 Mar 20
CORRESP
Correspondence with SEC
23 Mar 20
UPLOAD
Letter from SEC
25 Feb 20
SD
Conflict minerals disclosure
29 May 19
SD
Conflict minerals disclosure
29 May 18
SD
Conflict minerals disclosure
24 May 17
SD
Conflict minerals disclosure
26 May 16
UPLOAD
Letter from SEC
4 Jan 16
CORRESP
Correspondence with SEC
14 Dec 15
Ownership
4
BRIGGS & STRATTON / BRIAN C WALKER ownership change
28 Dec 20
4
BRIGGS & STRATTON / HENRIK C SLIPSAGER ownership change
28 Dec 20
4
BRIGGS & STRATTON / TODD J TESKE ownership change
27 Oct 20
4
BRIGGS & STRATTON / TODD J TESKE ownership change
22 Oct 20
4
BRIGGS & STRATTON / TODD J TESKE ownership change
30 Sep 20
4
BRIGGS & STRATTON / Kathryn Mary Buono ownership change
24 Aug 20
4
BRIGGS & STRATTON / Jeffrey Michael Zeiler ownership change
24 Aug 20
4
BRIGGS & STRATTON / WILLIAM H REITMAN ownership change
24 Aug 20
4
BRIGGS & STRATTON / Rachele Marie Lehr ownership change
24 Aug 20
4
BRIGGS & STRATTON / TODD J TESKE ownership change
24 Aug 20
Patents
APP
Utility
Engine Oil Recirculation System for Extended Maintenance Interval
8 Apr 21
An oil recirculation system includes an engine lubricated by a flow of oil through the engine, a supplemental oil tank arranged to contain a quantity of oil, an oil inlet conduit arranged to fluidly connect the supplemental oil tank and the engine, an oil outlet conduit arranged to fluidly connect the supplemental oil tank and the engine, a first pump operable to pump oil from the supplemental oil tank to the engine through the oil outlet conduit; and a second pump operable to pump oil from the engine to the supplemental oil tank through the oil inlet conduit. wherein the oil inlet conduit is coupled to the supplemental oil tank at a location above where the oil outlet conduit is coupled to the supplemental oil tank.
GRANT
Utility
Outdoor power equipment suspension system
30 Mar 21
An outdoor power equipment unit includes a front wheel independent suspension system.
APP
Utility
Engine with Control Unit for Lean Burn Operation
25 Mar 21
An internal combustion engine includes an engine block including a cylinder, a piston positioned within the cylinder and configured to reciprocate in the cylinder, an electronic throttle control system including a motor and a throttle plate, an air flow sensor configured to detect an air mass flow rate, a fuel system for supplying a controlled amount of fuel to the cylinder including a fuel injector, and an engine control unit coupled to the fuel system and the electronic throttle control system.
GRANT
Utility
Fuel delivery system
16 Mar 21
A fuel delivery system includes a fuel pump assembly, an extension tube, and an injection nozzle assembly.
APP
Utility
Mower Deck
4 Mar 21
A mower includes a pair of drive wheels, a pairs of non-drive wheels, and a mower deck.