Public Sector Pension Investment Board Lowers Stock Holdings in Brady Co. (NYSE:BRC)

Public Sector Pension Investment Board cut its holdings in Brady Co. (NYSE:BRC) by 5.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,189 shares of the industrial products company’s stock after selling 5,400 shares during the quarter. Public Sector Pension Investment Board owned 0.20% of Brady worth $7,141,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. raised its position in Brady by 65.3% during the second quarter. Blue Trust Inc. now owns 663 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 262 shares during the period. GAMMA Investing LLC lifted its stake in Brady by 337.1% in the 2nd quarter. GAMMA Investing LLC now owns 918 shares of the industrial products company’s stock valued at $61,000 after buying an additional 708 shares in the last quarter. Quarry LP boosted its holdings in Brady by 36.1% in the 2nd quarter. Quarry LP now owns 962 shares of the industrial products company’s stock worth $64,000 after buying an additional 255 shares during the last quarter. Quest Partners LLC purchased a new stake in Brady during the 2nd quarter worth approximately $119,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Brady by 10,983.3% during the third quarter. Farther Finance Advisors LLC now owns 1,995 shares of the industrial products company’s stock valued at $153,000 after acquiring an additional 1,977 shares during the last quarter. 76.28% of the stock is owned by institutional investors and hedge funds.

Brady Price Performance

Shares of NYSE BRC opened at $74.89 on Friday. The firm has a 50-day simple moving average of $74.23 and a 200-day simple moving average of $70.71. The company has a quick ratio of 1.25, a current ratio of 1.84 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 18.40 and a beta of 0.76. Brady Co. has a 52 week low of $54.97 and a 52 week high of $77.68.

Brady (NYSE:BRC) last released its quarterly earnings data on Monday, November 18th. The industrial products company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. The company had revenue of $377.10 million during the quarter, compared to the consensus estimate of $365.88 million. Brady had a net margin of 14.19% and a return on equity of 19.79%. Brady’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 EPS. On average, equities analysts predict that Brady Co. will post 4.55 earnings per share for the current fiscal year.

Brady Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.28%. This is a positive change from Brady’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, October 10th. Brady’s payout ratio is presently 23.59%.

Insider Buying and Selling

In other news, CEO Russell Shaller sold 12,547 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.08, for a total transaction of $916,934.76. Following the sale, the chief executive officer now owns 102,905 shares of the company’s stock, valued at approximately $7,520,297.40. This represents a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas F. Debruine sold 2,851 shares of Brady stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $75.77, for a total value of $216,020.27. Following the completion of the transaction, the chief operating officer now owns 9,727 shares of the company’s stock, valued at approximately $737,014.79. This trade represents a 22.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,262 shares of company stock worth $3,371,231. Company insiders own 15.60% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Brady from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 11th.

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 company offers materials, printing systems, RFID, and bar code scanners for product identification, brand protection labeling, work in process labeling, finished product identification, and industrial track and trace applications; safety signs, floor-marking tapes, pipe markers, labeling systems, spill control products, lockout/tagout device, and software and services for safety compliance auditing, procedure writing, and training; and hand-held printers, wire markers, sleeves, and tags for wire identification.