Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Brady Corporation (NYSE:BRC) by 15.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 229,367 shares of the industrial products company’s stock after purchasing an additional 31,300 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned about 0.45% of Brady worth $8,704,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Brady by 1.3% in the 2nd quarter. BlackRock Inc. now owns 5,730,661 shares of the industrial products company’s stock worth $194,270,000 after acquiring an additional 71,895 shares during the period. Vanguard Group Inc. raised its holdings in Brady by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 5,480,546 shares of the industrial products company’s stock worth $185,791,000 after acquiring an additional 159,933 shares during the period. JPMorgan Chase & Co. raised its holdings in Brady by 10.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,629,633 shares of the industrial products company’s stock worth $123,045,000 after acquiring an additional 345,775 shares during the period. Dimensional Fund Advisors LP raised its holdings in Brady by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,714,694 shares of the industrial products company’s stock worth $58,128,000 after acquiring an additional 16,270 shares during the period. Finally, Renaissance Technologies LLC grew its position in Brady by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,649,100 shares of the industrial products company’s stock worth $55,904,000 after purchasing an additional 192,000 shares during the last quarter. Institutional investors and hedge funds own 76.88% of the company’s stock.
In other news, VP Thomas J. Felmer sold 10,000 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $39.00, for a total value of $390,000.00. Following the transaction, the vice president now directly owns 78,474 shares of the company’s stock, valued at $3,060,486. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elizabeth P. Bruno sold 24,000 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $36.75, for a total transaction of $882,000.00. Following the completion of the transaction, the director now directly owns 371,509 shares in the company, valued at $13,652,955.75. The disclosure for this sale can be found here. Insiders have sold 39,380 shares of company stock valued at $1,484,060 in the last 90 days. 15.60% of the stock is currently owned by corporate insiders.
Several research firms have issued reports on BRC. Bank of America raised their price target on shares of Brady from $34.00 to $35.00 and gave the stock an “underperform” rating in a research report on Friday, November 17th. Zacks Investment Research lowered shares of Brady from a “buy” rating to a “hold” rating in a research report on Tuesday, November 21st. SunTrust Banks reiterated a “hold” rating and set a $39.00 target price on shares of Brady in a research report on Friday, November 17th. Finally, Robert W. Baird reiterated a “hold” rating and set a $36.00 target price on shares of Brady in a research report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $39.60.
Brady Corporation (NYSE:BRC) traded up $0.30 on Monday, hitting $39.00. 374,498 shares of the company were exchanged, compared to its average volume of 203,303. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.62 and a current ratio of 2.19. The company has a market capitalization of $1,995.30, a P/E ratio of 21.50, a price-to-earnings-growth ratio of 2.67 and a beta of 1.19. Brady Corporation has a twelve month low of $31.70 and a twelve month high of $40.50.
Brady (NYSE:BRC) last issued its earnings results on Thursday, November 16th. The industrial products company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Brady had a net margin of 8.81% and a return on equity of 13.90%. The firm had revenue of $290.15 million during the quarter, compared to the consensus estimate of $286.75 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was up 3.6% on a year-over-year basis. equities analysts anticipate that Brady Corporation will post 1.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 10th will be issued a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 2.13%. The ex-dividend date is Tuesday, January 9th. Brady’s payout ratio is 43.92%.
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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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