Great West Life Assurance Co. Can lessened its stake in Brady Corp (NYSE:BRC) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,658 shares of the industrial products company’s stock after selling 2,046 shares during the period. Great West Life Assurance Co. Can owned approximately 0.12% of Brady worth $2,415,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of BRC. BlackRock Inc. grew its position in shares of Brady by 5.2% during the 1st quarter. BlackRock Inc. now owns 6,397,705 shares of the industrial products company’s stock valued at $237,676,000 after acquiring an additional 315,983 shares during the period. Wells Fargo & Company MN grew its position in shares of Brady by 12.9% during the 2nd quarter. Wells Fargo & Company MN now owns 1,413,776 shares of the industrial products company’s stock valued at $54,501,000 after acquiring an additional 161,439 shares during the period. JPMorgan Chase & Co. grew its position in shares of Brady by 3.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,149,195 shares of the industrial products company’s stock valued at $154,142,000 after acquiring an additional 124,401 shares during the period. Dean Investment Associates LLC grew its position in shares of Brady by 96.1% during the 1st quarter. Dean Investment Associates LLC now owns 188,575 shares of the industrial products company’s stock valued at $7,006,000 after acquiring an additional 92,425 shares during the period. Finally, Old Mutual Global Investors UK Ltd. bought a new stake in shares of Brady during the 1st quarter valued at $3,077,000. 75.99% of the stock is owned by institutional investors and hedge funds.
BRC has been the subject of several recent analyst reports. Bank of America downgraded shares of Brady from a “buy” rating to an “underperform” rating and set a $40.00 target price for the company. in a report on Monday, July 16th. Zacks Investment Research downgraded shares of Brady from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Finally, ValuEngine raised shares of Brady from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $39.75.
In related news, Director Bradley C. Richardson sold 1,000 shares of the company’s stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $40.61, for a total value of $40,610.00. Following the completion of the transaction, the director now owns 5,170 shares of the company’s stock, valued at approximately $209,953.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Bentley Curran sold 13,790 shares of the company’s stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of $39.61, for a total transaction of $546,221.90. Following the completion of the transaction, the vice president now directly owns 41,189 shares of the company’s stock, valued at approximately $1,631,496.29. The disclosure for this sale can be found here. Insiders sold a total of 26,457 shares of company stock valued at $1,071,596 in the last ninety days. 15.60% of the stock is currently owned by insiders.
Shares of Brady stock opened at $46.45 on Monday. The firm has a market capitalization of $2.15 billion, a P/E ratio of 22.77, a PEG ratio of 2.56 and a beta of 1.13. 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 Corp has a fifty-two week low of $35.00 and a fifty-two week high of $47.35.
Brady (NYSE:BRC) last issued its earnings results on Thursday, September 13th. The industrial products company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.14. The company had revenue of $297.50 million during the quarter, compared to the consensus estimate of $297.04 million. Brady had a net margin of 6.98% and a return on equity of 14.23%. Brady’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 EPS. sell-side analysts forecast that Brady Corp will post 2.15 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Wednesday, October 10th will be issued a $0.85 dividend. The ex-dividend date is Tuesday, October 9th. This represents a $3.40 annualized dividend and a yield of 7.32%. This is an increase from Brady’s previous quarterly dividend of $0.21. Brady’s dividend payout ratio is currently 40.69%.
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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