Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in Brady Corp (NYSE:BRC) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 30,200 shares of the industrial products company’s stock, valued at approximately $1,122,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned about 0.06% of Brady as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Verition Fund Management LLC bought a new stake in Brady in the first quarter worth $243,000. Barclays PLC lifted its position in shares of Brady by 135.1% during the first quarter. Barclays PLC now owns 23,684 shares of the industrial products company’s stock worth $879,000 after purchasing an additional 13,609 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of Brady by 6.6% during the first quarter. Allianz Asset Management GmbH now owns 59,326 shares of the industrial products company’s stock worth $2,204,000 after purchasing an additional 3,647 shares during the last quarter. Profund Advisors LLC lifted its position in shares of Brady by 21.4% during the first quarter. Profund Advisors LLC now owns 9,087 shares of the industrial products company’s stock worth $338,000 after purchasing an additional 1,602 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. bought a new stake in shares of Brady during the first quarter worth $3,077,000. Institutional investors own 76.54% of the company’s stock.
Separately, Zacks Investment Research upgraded Brady from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Tuesday, February 27th.
NYSE:BRC opened at $39.45 on Wednesday. Brady Corp has a twelve month low of $31.70 and a twelve month high of $40.90. The firm has a market cap of $2.04 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. The company has a quick ratio of 1.71, a current ratio of 2.34 and a debt-to-equity ratio of 0.08.
Brady (NYSE:BRC) last released its earnings results on Thursday, May 24th. The industrial products company reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. Brady had a return on equity of 14.23% and a net margin of 6.98%. The business had revenue of $298.40 million during the quarter, compared to the consensus estimate of $292.07 million. During the same period last year, the company earned $0.43 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. sell-side analysts anticipate that Brady Corp will post 1.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Tuesday, July 10th will be given a dividend of $0.2075 per share. The ex-dividend date of this dividend is Monday, July 9th. This represents a $0.83 annualized dividend and a dividend yield of 2.10%. Brady’s dividend payout ratio (DPR) is 47.43%.
In other news, Director Bradley C. Richardson sold 1,000 shares of the firm’s stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $40.61, for a total transaction of $40,610.00. Following the transaction, the director now owns 5,170 shares in the company, valued at $209,953.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank W. Harris sold 2,000 shares of the firm’s stock in a transaction on Friday, June 15th. The shares were sold at an average price of $39.94, for a total value of $79,880.00. Following the transaction, the director now owns 26,690 shares in the company, valued at approximately $1,065,998.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,667 shares of company stock valued at $593,004. Corporate insiders own 15.60% of the company’s stock.
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.
Want to see what other hedge funds are holding BRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brady Corp (NYSE:BRC).
Receive News & Ratings for Brady Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brady and related companies with MarketBeat.com's FREE daily email newsletter.