New York State Common Retirement Fund lessened its stake in shares of Brady Corp (NYSE:BRC) by 42.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,100 shares of the industrial products company’s stock after selling 50,135 shares during the period. New York State Common Retirement Fund owned about 0.13% of Brady worth $2,546,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of BRC. Schwab Charles Investment Management Inc. raised its stake in Brady by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 321,156 shares of the industrial products company’s stock worth $10,888,000 after buying an additional 13,013 shares in the last quarter. Arizona State Retirement System grew its holdings in Brady by 0.4% in the second quarter. Arizona State Retirement System now owns 24,915 shares of the industrial products company’s stock worth $845,000 after purchasing an additional 100 shares during the last quarter. SG Americas Securities LLC purchased a new position in Brady in the second quarter worth $118,000. Legal & General Group Plc grew its holdings in Brady by 8.7% in the second quarter. Legal & General Group Plc now owns 93,071 shares of the industrial products company’s stock worth $3,156,000 after purchasing an additional 7,427 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in Brady by 73.4% in the second quarter. BNP Paribas Arbitrage SA now owns 18,727 shares of the industrial products company’s stock worth $635,000 after purchasing an additional 7,929 shares during the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Bradley C. Richardson sold 1,400 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $39.15, for a total transaction of $54,810.00. Following the completion of the transaction, the director now owns 2,511 shares in the company, valued at approximately $98,305.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas J. Felmer sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $39.00, for a total transaction of $390,000.00. Following the transaction, the vice president now owns 78,474 shares of the company’s stock, valued at approximately $3,060,486. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,029 shares of company stock valued at $706,748. Insiders own 15.60% of the company’s stock.
Shares of Brady Corp (BRC) opened at $38.95 on Friday. Brady Corp has a 1-year low of $31.70 and a 1-year high of $40.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.19 and a quick ratio of 1.62. The company has a market cap of $2,010.00, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 2.70 and a beta of 1.19.
Brady (NYSE:BRC) last issued its quarterly earnings data on Thursday, November 16th. The industrial products company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $290.15 million during the quarter, compared to the consensus estimate of $286.75 million. Brady had a net margin of 8.81% and a return on equity of 13.90%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 earnings per share. equities research analysts anticipate that Brady Corp will post 1.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 10th will be given a $0.2075 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 2.13%. Brady’s dividend payout ratio (DPR) is currently 44.15%.
BRC has been the topic of several analyst reports. Zacks Investment Research lowered shares of Brady from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Bank of America boosted their price objective on shares of Brady from $34.00 to $35.00 and gave the company an “underperform” rating in a report on Friday, November 17th. SunTrust Banks reissued a “hold” rating and set a $39.00 price objective on shares of Brady in a report on Friday, November 17th. Finally, Robert W. Baird reissued a “hold” rating and set a $36.00 price objective on shares of Brady in a report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $41.00.
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Brady Corporation is a manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people. The Company has two segments: Identification Solutions (IDS) and Workplace Safety (WPS). The IDS segment includes identification and healthcare products, and the WPS segment includes workplace safety and compliance products.
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