Royce & Associates LP lifted its stake in Brady Co. (NYSE:BRC – Free Report) by 27.1% in the 3rd quarter, Holdings Channel reports. The firm owned 555,792 shares of the industrial products company’s stock after purchasing an additional 118,557 shares during the quarter. Royce & Associates LP’s holdings in Brady were worth $42,590,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Brady during the first quarter worth about $313,000. State Board of Administration of Florida Retirement System lifted its position in shares of Brady by 225.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 20,012 shares of the industrial products company’s stock worth $1,186,000 after purchasing an additional 13,869 shares in the last quarter. Jupiter Asset Management Ltd. lifted its position in shares of Brady by 15.5% during the first quarter. Jupiter Asset Management Ltd. now owns 287,585 shares of the industrial products company’s stock worth $17,048,000 after purchasing an additional 38,626 shares in the last quarter. Vanguard Group Inc. raised its holdings in Brady by 0.6% in the first quarter. Vanguard Group Inc. now owns 5,307,191 shares of the industrial products company’s stock valued at $314,610,000 after acquiring an additional 32,437 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in Brady by 31.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 18,075 shares of the industrial products company’s stock valued at $1,072,000 after acquiring an additional 4,347 shares in the last quarter. Institutional investors and hedge funds own 76.28% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered shares of Brady from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 11th.
Brady Stock Down 2.1 %
Brady stock opened at $74.67 on Friday. The company has a 50-day simple moving average of $74.32 and a 200-day simple moving average of $69.72. The firm has a market capitalization of $3.55 billion, a P/E ratio of 18.35, a P/E/G ratio of 3.53 and a beta of 0.76. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.69 and a current ratio of 2.27. Brady Co. has a one year low of $52.68 and a one year high of $77.68.
Brady (NYSE:BRC – Get Free Report) last announced its earnings results on Friday, September 6th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The firm had revenue of $343.40 million during the quarter, compared to analyst estimates of $351.74 million. Brady had a net margin of 14.70% and a return on equity of 19.84%. Brady’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 EPS. As a group, equities analysts expect that Brady Co. will post 4.55 earnings per share for the current year.
Brady Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were given a dividend of $0.24 per share. This is a positive change from Brady’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.96 annualized dividend and a dividend yield of 1.29%. Brady’s dividend payout ratio (DPR) is 23.59%.
Insider Activity
In other Brady news, General Counsel Andrew Gorman sold 8,736 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $74.10, for a total value of $647,337.60. Following the completion of the transaction, the general counsel now directly owns 10,140 shares in the company, valued at $751,374. This trade represents a 46.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Thomas F. Debruine sold 2,851 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $75.77, for a total transaction of $216,020.27. Following the sale, the chief operating officer now owns 9,727 shares of the company’s stock, valued at approximately $737,014.79. This represents a 22.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,262 shares of company stock worth $3,371,231. Corporate insiders own 15.60% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Brady
- Energy and Oil Stocks Explained
- Rivian’s Wild Ride: Is the Dip a Buying Opportunity?
- Stock Splits, Do They Really Impact Investors?
- Freshworks Stock Soars 50% – Is This the Perfect Entry Point?
- Russell 2000 Index, How Investors Use it For Profitable Trading
- Why Meta Should Rally All The Way Into 2025
Want to see what other hedge funds are holding BRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brady Co. (NYSE:BRC – Free Report).
Receive News & Ratings for Brady Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brady and related companies with MarketBeat.com's FREE daily email newsletter.