Invictus RG lessened its stake in Brady Corp (NYSE:BRC) by 23.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,849 shares of the industrial products company’s stock after selling 2,958 shares during the quarter. Invictus RG’s holdings in Brady were worth $373,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Hartford Investment Management Co. purchased a new position in Brady in the third quarter valued at approximately $204,000. Bowling Portfolio Management LLC acquired a new stake in shares of Brady during the fourth quarter worth approximately $276,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Brady during the third quarter worth approximately $349,000. Quadrature Capital Ltd acquired a new stake in shares of Brady during the fourth quarter worth approximately $416,000. Finally, Trexquant Investment LP boosted its holdings in Brady by 31.8% in the third quarter. Trexquant Investment LP now owns 11,600 shares of the industrial products company’s stock worth $440,000 after purchasing an additional 2,800 shares during the period. 79.24% of the stock is currently owned by hedge funds and other institutional investors.
Brady Corp (NYSE BRC) traded up $0.10 on Wednesday, reaching $38.15. The company had a trading volume of 167,560 shares, compared to its average volume of 177,971. Brady Corp has a 12-month low of $31.70 and a 12-month high of $40.25. The firm has a market cap of $1,970.08, a price-to-earnings ratio of 25.78, a P/E/G ratio of 2.57 and a beta of 1.12. The company has a current ratio of 2.41, a quick ratio of 1.75 and a debt-to-equity ratio of 0.10.
Brady (NYSE:BRC) last issued its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. Brady had a return on equity of 14.10% and a net margin of 6.82%. The company had revenue of $287.78 million during the quarter, compared to analyst estimates of $277.17 million. During the same period in the previous year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. research analysts expect that Brady Corp will post 1.98 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Monday, April 9th will be issued a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, April 6th. Brady’s payout ratio is presently 56.08%.
Several brokerages have recently issued reports on BRC. Zacks Investment Research raised shares of Brady from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Tuesday, February 27th. Bank of America upgraded shares of Brady from an “underperform” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Tuesday, January 2nd. Finally, SunTrust Banks reiterated a “hold” rating and issued a $39.00 price target on shares of Brady in a research report on Friday, November 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $40.00.
In other news, VP Bentley Curran sold 21,784 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $39.01, for a total transaction of $849,793.84. Following the transaction, the vice president now owns 52,597 shares of the company’s stock, valued at $2,051,808.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.60% of the stock is currently owned by corporate insiders.
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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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