Public Sector Pension Investment Board Increases Holdings in Brady Corporation $BRC

Public Sector Pension Investment Board boosted its position in shares of Brady Corporation (NYSE:BRC) by 14.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 170,714 shares of the industrial products company’s stock after buying an additional 21,458 shares during the period. Public Sector Pension Investment Board’s holdings in Brady were worth $13,321,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Prentiss Smith & Co. Inc. increased its holdings in Brady by 22.4% during the third quarter. Prentiss Smith & Co. Inc. now owns 70,984 shares of the industrial products company’s stock valued at $5,539,000 after buying an additional 12,987 shares during the period. Vise Technologies Inc. bought a new stake in Brady during the 2nd quarter valued at $457,000. Quantbot Technologies LP increased its holdings in shares of Brady by 245.8% in the 2nd quarter. Quantbot Technologies LP now owns 19,556 shares of the industrial products company’s stock valued at $1,329,000 after acquiring an additional 13,901 shares during the period. BTS Asset Management Inc. bought a new position in shares of Brady in the 2nd quarter worth $450,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Brady during the 2nd quarter worth $423,000. 76.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on BRC. Wall Street Zen lowered shares of Brady from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reissued a “buy (b)” rating on shares of Brady in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat.com, Brady presently has a consensus rating of “Strong Buy”.

Insider Activity

In other Brady news, CEO Russell Shaller sold 17,130 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $81.25, for a total transaction of $1,391,812.50. Following the completion of the transaction, the chief executive officer directly owned 141,421 shares of the company’s stock, valued at approximately $11,490,456.25. This trade represents a 10.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brett Wilms sold 3,791 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $78.13, for a total transaction of $296,190.83. Following the completion of the sale, the insider directly owned 7,672 shares in the company, valued at $599,413.36. This trade represents a 33.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 73,586 shares of company stock valued at $5,720,907. 15.60% of the stock is owned by insiders.

Brady Trading Up 0.4%

NYSE BRC opened at $96.56 on Monday. Brady Corporation has a 12-month low of $62.70 and a 12-month high of $97.58. The company has a fifty day simple moving average of $83.87 and a two-hundred day simple moving average of $79.02. The company has a current ratio of 2.07, a quick ratio of 1.39 and a debt-to-equity ratio of 0.09. The stock has a market cap of $4.56 billion, a P/E ratio of 23.61 and a beta of 0.63.

Brady (NYSE:BRC) last released its earnings results on Monday, November 17th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.03. Brady had a return on equity of 19.06% and a net margin of 12.74%.The firm had revenue of $405.29 million for the quarter, compared to the consensus estimate of $393.65 million. During the same period in the prior year, the firm earned $1.12 EPS. The firm’s revenue was up 7.5% on a year-over-year basis. On average, analysts forecast that Brady Corporation will post 4.55 earnings per share for the current year.

Brady Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 9th were paid a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, January 9th. Brady’s dividend payout ratio (DPR) is presently 23.96%.

Brady Profile

Brady Corporation is a global provider of identification and safety solutions, specializing in the design, manufacture and sale of products that help businesses improve safety, security and efficiency. The company offers an array of durable labels, signs, safety devices, printing systems and software platforms tailored to a wide range of industrial and commercial environments.

Founded in 1914 by William H. Brady, Brady Corporation has grown from a regional marker manufacturer into a diversified global enterprise.