Great West Life Assurance Co. Can lessened its holdings in shares of Brady Corporation (NYSE:BRC) by 7.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,298 shares of the industrial products company’s stock after selling 5,062 shares during the quarter. Great West Life Assurance Co. Can owned 0.13% of Brady worth $2,481,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Brady by 10.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,629,633 shares of the industrial products company’s stock valued at $123,045,000 after purchasing an additional 345,775 shares during the period. Wells Fargo & Company MN raised its stake in shares of Brady by 35.5% in the 2nd quarter. Wells Fargo & Company MN now owns 956,471 shares of the industrial products company’s stock valued at $32,425,000 after purchasing an additional 250,713 shares during the period. Renaissance Technologies LLC raised its stake in shares of Brady by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,649,100 shares of the industrial products company’s stock valued at $55,904,000 after purchasing an additional 192,000 shares during the period. Vanguard Group Inc. raised its stake in shares of Brady by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 5,480,546 shares of the industrial products company’s stock valued at $185,791,000 after purchasing an additional 159,933 shares during the period. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Brady in the 2nd quarter valued at about $5,218,000. 76.88% of the stock is currently owned by institutional investors and hedge funds.
Brady Corporation (BRC) traded down $0.50 during trading on Friday, reaching $38.80. The company had a trading volume of 173,000 shares, compared to its average volume of 202,708. Brady Corporation has a fifty-two week low of $31.70 and a fifty-two week 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 capitalization of $2,026.23, a PE ratio of 21.83, a P/E/G ratio of 2.72 and a beta of 1.19.
Brady (NYSE:BRC) last posted its quarterly earnings results on Thursday, November 16th. The industrial products company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Brady had a return on equity of 13.90% and a net margin of 8.81%. The business had revenue of $290.15 million during the quarter, compared to analysts’ expectations of $286.75 million. During the same quarter last year, the company posted $0.44 earnings per share. Brady’s quarterly revenue was up 3.6% on a year-over-year basis. sell-side analysts anticipate that Brady Corporation will post 1.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th will be issued a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Tuesday, January 9th. Brady’s dividend payout ratio is presently 43.92%.
In other news, Director Bradley C. Richardson sold 1,400 shares of Brady stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $39.15, for a total value of $54,810.00. Following the completion of the sale, the director now directly owns 2,511 shares in the company, valued at $98,305.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Thomas J. Felmer sold 10,000 shares of Brady stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $39.00, for a total transaction of $390,000.00. Following the completion of the sale, the vice president now owns 78,474 shares of the company’s stock, valued at $3,060,486. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,029 shares of company stock valued at $1,588,748. Corporate insiders own 15.60% of the company’s stock.
A number of research firms recently issued reports on BRC. Zacks Investment Research raised Brady from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Wednesday, November 8th. Robert W. Baird set a $36.00 target price on Brady and gave the company a “hold” rating in a research report on Thursday, August 24th. SunTrust Banks reaffirmed a “hold” rating and issued a $39.00 target price on shares of Brady in a research report on Friday, November 17th. Finally, Bank of America lifted their price target on Brady from $33.00 to $34.00 and gave the stock an “underperform” rating in a report on Friday, September 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Brady currently has a consensus rating of “Hold” and a consensus price target of $39.60.
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Brady Company Profile
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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