BNP Paribas Arbitrage SA boosted its stake in Brady Corp (NYSE:BRC) by 165.0% in the first quarter, HoldingsChannel.com reports. The firm owned 11,226 shares of the industrial products company’s stock after acquiring an additional 6,989 shares during the period. BNP Paribas Arbitrage SA’s holdings in Brady were worth $521,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently bought and sold shares of the company. Millennium Management LLC grew its position in Brady by 9.2% in the 4th quarter. Millennium Management LLC now owns 432,697 shares of the industrial products company’s stock worth $18,805,000 after purchasing an additional 36,503 shares during the period. Northern Trust Corp grew its position in Brady by 0.4% in the 4th quarter. Northern Trust Corp now owns 621,886 shares of the industrial products company’s stock worth $27,027,000 after purchasing an additional 2,577 shares during the period. Thrivent Financial for Lutherans grew its position in Brady by 48.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 50,064 shares of the industrial products company’s stock worth $2,176,000 after purchasing an additional 16,287 shares during the period. James Investment Research Inc. bought a new stake in Brady in the 4th quarter worth approximately $1,108,000. Finally, Prudential Financial Inc. grew its position in shares of Brady by 6.2% during the 4th quarter. Prudential Financial Inc. now owns 85,473 shares of the industrial products company’s stock valued at $3,715,000 after acquiring an additional 4,991 shares during the period. 78.99% of the stock is owned by institutional investors and hedge funds.
BRC has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Brady from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Thursday, February 14th. Northcoast Research reissued a “buy” rating on shares of Brady in a research report on Wednesday, February 13th. Finally, ValuEngine downgraded shares of Brady from a “buy” rating to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $46.00.
Shares of BRC stock opened at $47.09 on Thursday. Brady Corp has a 1 year low of $36.00 and a 1 year high of $50.12. The company has a quick ratio of 2.34, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. The firm has a market cap of $2.50 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 2.74 and a beta of 0.98.
Brady (NYSE:BRC) last issued its quarterly earnings data on Thursday, February 21st. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Brady had a net margin of 10.31% and a return on equity of 15.17%. The firm had revenue of $282.40 million during the quarter, compared to the consensus estimate of $285.50 million. During the same quarter in the previous year, the firm posted $0.48 EPS. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, sell-side analysts forecast that Brady Corp will post 2.31 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 9th were given a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Monday, April 8th. Brady’s payout ratio is 41.67%.
In related news, Director Frank W. Harris sold 2,000 shares of the company’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $48.04, for a total value of $96,080.00. Following the completion of the transaction, the director now owns 27,379 shares of the company’s stock, valued at approximately $1,315,287.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Louis T. Bolognini sold 11,131 shares of the company’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $47.32, for a total transaction of $526,718.92. Following the completion of the transaction, the senior vice president now directly owns 37,971 shares of the company’s stock, valued at approximately $1,796,787.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 99,779 shares of company stock valued at $4,753,943. Insiders own 15.60% of the company’s stock.
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Brady Corporation manufactures and supplies identification solutions (IDS) and workplace safety (WPS) products to identify and protect premises, products, and people in the United States and internationally. The IDS segment offers safety signs, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials and printing systems for product identification, brand protection labeling, work in process labeling, and finished product identification; and hand-held printers, wire markers, sleeves, and tags for wire identification, as well as software and services for safety compliance auditing, procedure writing, and training.
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