Citigroup Inc. lessened its position in shares of Brady Corp (NYSE:BRC) by 8.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 30,895 shares of the industrial products company’s stock after selling 2,867 shares during the quarter. Citigroup Inc. owned approximately 0.06% of Brady worth $1,343,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC purchased a new stake in shares of Brady during the 4th quarter valued at $878,000. State of Tennessee Treasury Department increased its position in shares of Brady by 15.3% during the 4th quarter. State of Tennessee Treasury Department now owns 44,754 shares of the industrial products company’s stock valued at $1,945,000 after purchasing an additional 5,939 shares during the last quarter. WBI Investments Inc. increased its position in shares of Brady by 2.0% during the 4th quarter. WBI Investments Inc. now owns 38,403 shares of the industrial products company’s stock valued at $1,669,000 after purchasing an additional 761 shares during the last quarter. Advisor Group Inc. increased its position in shares of Brady by 45.1% during the 4th quarter. Advisor Group Inc. now owns 2,717 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 845 shares during the last quarter. Finally, Texas Permanent School Fund increased its position in shares of Brady by 5.6% during the 4th quarter. Texas Permanent School Fund now owns 32,024 shares of the industrial products company’s stock valued at $1,392,000 after purchasing an additional 1,696 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.
In related news, Director Frank W. Harris sold 2,000 shares of Brady stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $48.04, for a total value of $96,080.00. Following the completion of the sale, the director now owns 27,379 shares of the company’s stock, valued at approximately $1,315,287.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Elizabeth P. Bruno sold 8,400 shares of Brady stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $47.65, for a total value of $400,260.00. Following the completion of the sale, the director now directly owns 370,532 shares of the company’s stock, valued at approximately $17,655,849.80. The disclosure for this sale can be found here. In the last three months, insiders sold 112,287 shares of company stock valued at $5,283,808. 15.60% of the stock is currently owned by insiders.
Several brokerages have recently issued reports on BRC. Zacks Investment Research raised Brady from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Monday, December 10th. SunTrust Banks reaffirmed a “hold” rating and set a $43.00 target price on shares of Brady in a research report on Monday, November 19th. Finally, Northcoast Research reaffirmed a “buy” rating on shares of Brady in a research report on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Brady currently has a consensus rating of “Hold” and an average price target of $46.00.
Shares of Brady stock opened at $46.12 on Friday. Brady Corp has a 1 year low of $35.95 and a 1 year high of $48.62. The firm has a market cap of $2.43 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 2.66 and a beta of 0.98. The company has a quick ratio of 2.34, a current ratio of 3.06 and a debt-to-equity ratio of 0.06.
Brady (NYSE:BRC) last announced its earnings results on Thursday, February 21st. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. Brady had a return on equity of 15.17% and a net margin of 10.31%. The firm had revenue of $282.40 million during the quarter, compared to analyst estimates of $285.50 million. During the same period last year, the firm posted $0.48 EPS. The business’s revenue was down 1.9% compared to the same quarter last year. Equities analysts expect that Brady Corp will post 2.31 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 9th will be given a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Monday, April 8th. Brady’s dividend payout ratio is presently 41.67%.
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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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