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The Case for Adding Briggs & Stratton Corporation (BGG) to Your Portfolio

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We at Insider Monkey have gone over 700 13F filings that hedge funds and prominent investors are required to file by the government. The 13F filings show the funds’ and investors’ portfolio positions as of September 30. In this article we look at what those investors think of Briggs & Stratton Corporation (NYSE:BGG).

Is Briggs & Stratton Corporation (NYSE:BGG) worth your attention right now? The smart money is becoming hopeful. The number of bullish hedge fund positions rose by 5 in recent months. At the end of this article we will also compare BGG to other stocks including Orion Engineered Carbons SA (NYSE:OEC), Ebix Inc (NASDAQ:EBIX), and EnPro Industries, Inc. (NYSE:NPO) to get a better sense of its popularity.

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To most traders, hedge funds are perceived as unimportant, old financial tools of years past. While there are over 8,000 funds trading today, we look at the masters of this club, around 700 funds. Most estimates calculate that this group of people preside over bulk of the smart money’s total capital, and by shadowing their finest equity investments, Insider Monkey has identified many investment strategies that have historically outstripped the S&P 500 index. Insider Monkey’s small-cap hedge fund strategy exceeded the S&P 500 index by 12 percentage points annually for a decade in their back tests.

Now, we’re going to take a gander at the fresh action encompassing Briggs & Stratton Corporation (NYSE:BGG).

What does the smart money think about Briggs & Stratton Corporation (NYSE:BGG)?

At Q3’s end, a total of 20 of the hedge funds tracked by Insider Monkey held long positions in this stock, a 33% gain from the previous quarter. With the smart money’s sentiment swirling, there exists a few noteworthy hedge fund managers who were boosting their stakes meaningfully (or had already accumulated large positions).

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Daruma Asset Management, managed by Mariko Gordon, holds the largest position in Briggs & Stratton Corporation (NYSE:BGG). Daruma Asset Management has a $53.5 million position in the stock, comprising 3.3% of its 13F portfolio. Coming in second is Peter Schliemann of Rutabaga Capital Management, with a $23.9 million position; 2.9% of its 13F portfolio is allocated to the company. Other members of the smart money that are bullish consist of Chuck Royce’s Royce & Associates, Israel Englander’s Millennium Management, and Joel Greenblatt’s Gotham Asset Management.

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