Swiss National Bank Has $2.72 Million Stake in Brady Corporation (BRC)
Swiss National Bank raised its stake in Brady Corporation (NYSE:BRC) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,200 shares of the industrial products company’s stock after purchasing an additional 2,200 shares during the quarter. Swiss National Bank owned 0.16% of Brady Corporation worth $2,719,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Brady Corporation in the second quarter worth approximately $118,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Brady Corporation in the first quarter worth approximately $153,000. Brighton Jones LLC purchased a new stake in shares of Brady Corporation in the first quarter worth approximately $232,000. Suntrust Banks Inc. raised its stake in shares of Brady Corporation by 1.6% in the first quarter. Suntrust Banks Inc. now owns 7,933 shares of the industrial products company’s stock worth $306,000 after purchasing an additional 128 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Brady Corporation in the second quarter worth approximately $298,000. 75.99% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently commented on the company. Zacks Investment Research downgraded Brady Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Bank of America Corporation increased 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. 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. Finally, BidaskClub downgraded Brady Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $39.25.
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Shares of Brady Corporation (BRC) opened at 37.95 on Friday. The stock has a market capitalization of $1.95 billion, a P/E ratio of 20.79 and a beta of 1.11. Brady Corporation has a 52 week low of $31.70 and a 52 week high of $40.50. The stock has a 50 day moving average price of $33.67 and a 200 day moving average price of $36.00.
Brady Corporation (NYSE:BRC) last issued its quarterly earnings results on Thursday, September 7th. The industrial products company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Brady Corporation had a return on equity of 13.93% and a net margin of 8.59%. The firm had revenue of $289.20 million for the quarter, compared to analysts’ expectations of $280.47 million. During the same period in the previous year, the firm posted $0.49 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts expect that Brady Corporation will post $1.93 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 10th will be given a $0.83 dividend. This is a boost from Brady Corporation’s previous quarterly dividend of $0.21. This represents a $3.32 dividend on an annualized basis and a dividend yield of 8.75%. The ex-dividend date is Friday, October 6th. Brady Corporation’s payout ratio is currently 44.57%.
In related news, Director Elizabeth P. Bruno sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $36.75, for a total value of $882,000.00. Following the completion of the transaction, the director now directly owns 371,509 shares in the company, valued at approximately $13,652,955.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 15.60% of the company’s stock.
About Brady Corporation
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.
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