BlackRock Inc. boosted its position in shares of Brady Corp (NYSE:BRC) by 1.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,172,224 shares of the industrial products company’s stock after purchasing an additional 97,954 shares during the period. BlackRock Inc. owned approximately 13.62% of Brady worth $332,862,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC raised its stake in Brady by 107.7% during the first quarter. Quadrant Capital Group LLC now owns 920 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 477 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Brady by 44.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,595 shares of the industrial products company’s stock valued at $113,000 after acquiring an additional 793 shares during the period. Advisor Group Inc. raised its stake in shares of Brady by 45.1% in the 4th quarter. Advisor Group Inc. now owns 2,717 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 845 shares during the period. Magnus Financial Group LLC purchased a new stake in shares of Brady in the 1st quarter valued at approximately $207,000. Finally, Ramsey Quantitative Systems purchased a new stake in shares of Brady in the 4th quarter valued at approximately $289,000. 80.64% of the stock is currently owned by institutional investors.
Brady stock opened at $48.18 on Thursday. The company has a market capitalization of $2.52 billion, a PE ratio of 20.27, a P/E/G ratio of 2.65 and a beta of 0.97. Brady Corp has a 1 year low of $36.00 and a 1 year high of $50.12. The company has a current ratio of 3.03, a quick ratio of 2.36 and a debt-to-equity ratio of 0.06.
Brady (NYSE:BRC) last released its quarterly earnings results on Thursday, May 23rd. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The business had revenue of $289.75 million for the quarter, compared to the consensus estimate of $292.66 million. Brady had a net margin of 11.15% and a return on equity of 15.85%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. On average, research analysts forecast that Brady Corp will post 2.4 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be issued a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Tuesday, July 9th. Brady’s dividend payout ratio (DPR) is currently 41.67%.
A number of research firms have recently issued reports on BRC. ValuEngine downgraded shares of Brady from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Zacks Investment Research downgraded shares of Brady from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Finally, Northcoast Research reissued a “buy” rating on shares of Brady in a research note on Wednesday, February 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Brady currently has a consensus rating of “Hold” and an average price target of $46.00.
In related news, CEO J Michael Nauman sold 20,488 shares of Brady stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $48.14, for a total value of $986,292.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Louis T. Bolognini sold 7,424 shares of Brady stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $47.75, for a total transaction of $354,496.00. Following the completion of the transaction, the senior vice president now owns 34,264 shares of the company’s stock, valued at approximately $1,636,106. The disclosure for this sale can be found here. Insiders sold 47,583 shares of company stock valued at $2,269,813 in the last 90 days. Company insiders own 15.60% of the company’s stock.
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Brady Company Profile
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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