DekaBank Deutsche Girozentrale boosted its holdings in shares of Brady Corp (NYSE:BRC) by 35.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,472 shares of the industrial products company’s stock after acquiring an additional 8,500 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.06% of Brady worth $1,304,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of BRC. BlackRock Inc. raised its position in Brady by 4.4% during the second quarter. BlackRock Inc. now owns 6,679,085 shares of the industrial products company’s stock valued at $257,479,000 after acquiring an additional 281,380 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Brady by 12.9% during the second quarter. Wells Fargo & Company MN now owns 1,413,776 shares of the industrial products company’s stock valued at $54,501,000 after purchasing an additional 161,439 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Brady by 6.9% during the second quarter. Renaissance Technologies LLC now owns 1,948,600 shares of the industrial products company’s stock valued at $75,119,000 after purchasing an additional 125,600 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in Brady during the third quarter valued at approximately $4,900,000. Finally, TD Asset Management Inc. acquired a new position in Brady during the second quarter valued at approximately $2,624,000. 76.82% of the stock is currently owned by hedge funds and other institutional investors.
BRC has been the topic of several analyst reports. ValuEngine upgraded Brady from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. Bank of America set a $42.00 price target on Brady and gave the company a “sell” rating in a report on Monday, September 17th. Zacks Investment Research upgraded Brady from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Monday, September 17th. Sidoti downgraded Brady from a “buy” rating to a “neutral” rating in a report on Tuesday, September 18th. Finally, SunTrust Banks reiterated a “hold” rating and set a $43.00 price target on shares of Brady in a report on Monday, November 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Brady presently has an average rating of “Hold” and a consensus price target of $44.00.
Shares of BRC stock opened at $41.18 on Thursday. Brady Corp has a 12 month low of $35.00 and a 12 month high of $47.35. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.09 and a current ratio of 2.72. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 2.41 and a beta of 1.21.
Brady (NYSE:BRC) last announced its quarterly earnings results on Thursday, November 15th. The industrial products company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.52 by $0.06. Brady had a return on equity of 15.01% and a net margin of 8.15%. The company had revenue of $293.20 million for the quarter, compared to the consensus estimate of $295.67 million. During the same quarter last year, the company posted $0.49 earnings per share. On average, sell-side analysts anticipate that Brady Corp will post 2.28 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Thursday, January 10th will be issued a dividend of $0.2125 per share. The ex-dividend date is Wednesday, January 9th. This represents a $0.85 annualized dividend and a yield of 2.06%. Brady’s dividend payout ratio (DPR) is presently 41.67%.
In other news, VP Thomas J. Felmer sold 35,000 shares of the firm’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $42.71, for a total value of $1,494,850.00. Following the sale, the vice president now owns 93,115 shares in the company, valued at $3,976,941.65. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Russell Shaller sold 10,000 shares of the firm’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $43.00, for a total transaction of $430,000.00. Following the completion of the sale, the vice president now owns 55,851 shares in the company, valued at approximately $2,401,593. The disclosure for this sale can be found here. In the last quarter, insiders have sold 179,614 shares of company stock worth $7,858,550. Corporate insiders own 15.60% of the company’s stock.
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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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