Prudential Financial Inc. lowered its position in shares of Brady Corporation (NYSE:BRC) by 10.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,352 shares of the industrial products company’s stock after selling 9,790 shares during the quarter. Prudential Financial Inc. owned approximately 0.16% of Brady Corporation worth $2,860,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of Brady Corporation by 8.1% during the second quarter. Victory Capital Management Inc. now owns 18,739 shares of the industrial products company’s stock worth $635,000 after acquiring an additional 1,401 shares during the last quarter. Virginia Retirement Systems ET AL raised its position in shares of Brady Corporation by 15.0% during the second quarter. Virginia Retirement Systems ET AL now owns 23,800 shares of the industrial products company’s stock worth $807,000 after acquiring an additional 3,100 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Brady Corporation by 0.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 43,814 shares of the industrial products company’s stock worth $1,485,000 after acquiring an additional 138 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Brady Corporation by 9.1% during the second quarter. William Blair Investment Management LLC now owns 642,442 shares of the industrial products company’s stock worth $21,779,000 after acquiring an additional 53,378 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in shares of Brady Corporation during the second quarter worth $5,218,000. Institutional investors own 75.99% of the company’s stock.

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A number of brokerages recently commented on BRC. Zacks Investment Research cut Brady Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Robert W. Baird set a $36.00 price objective on Brady Corporation and gave the stock a “hold” rating in a research note on Thursday, August 24th. BidaskClub cut Brady Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Finally, Bank of America Corporation lifted their price objective on Brady Corporation from $33.00 to $34.00 and gave the stock an “underperform” rating in a research note on Friday, September 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $39.25.

Shares of Brady Corporation (NYSE:BRC) opened at 36.80 on Monday. The firm has a market capitalization of $1.89 billion, a PE ratio of 20.16 and a beta of 1.11. The company’s 50 day moving average price is $33.67 and its 200-day moving average price is $36.00. Brady Corporation has a 52 week low of $31.70 and a 52 week high of $40.50.

Brady Corporation (NYSE:BRC) last announced its earnings results on Thursday, September 7th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The business had revenue of $289.20 million during the quarter, compared to analyst estimates of $280.47 million. Brady Corporation had a return on equity of 13.93% and a net margin of 8.59%. Brady Corporation’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.49 EPS. On average, equities research analysts expect that Brady Corporation will post $1.93 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Tuesday, October 10th will be given a dividend of $0.83 per share. This is a positive change from Brady Corporation’s previous quarterly dividend of $0.21. This represents a $3.32 annualized dividend and a yield of 9.02%. The ex-dividend date of this dividend is Friday, October 6th. Brady Corporation’s dividend payout ratio (DPR) is currently 44.57%.

Brady Corporation Company Profile

Brady Corporation is a manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people. The Company has two segments: Identification Solutions (IDS) and Workplace Safety (WPS). The IDS segment includes identification and healthcare products, and the WPS segment includes workplace safety and compliance products.

Institutional Ownership by Quarter for Brady Corporation (NYSE:BRC)

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