11,800 Shares in Brady Corporation (BRC) Acquired by Menta Capital LLC
Menta Capital LLC acquired a new position in Brady Corporation (NYSE:BRC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 11,800 shares of the industrial products company’s stock, valued at approximately $400,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BRC. Riverhead Capital Management LLC grew its position in Brady Corporation by 62.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,095 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 1,195 shares during the period. SG Americas Securities LLC purchased a new stake in Brady Corporation during the 2nd quarter valued at $118,000. Ameritas Investment Partners Inc. purchased a new stake in Brady Corporation during the 1st quarter valued at $153,000. Brighton Jones LLC bought a new position in shares of Brady Corporation during the 1st quarter valued at $232,000. Finally, Amalgamated Bank lifted its holdings in shares of Brady Corporation by 5.0% during the 2nd quarter. Amalgamated Bank now owns 6,403 shares of the industrial products company’s stock valued at $217,000 after buying an additional 305 shares during the period. Institutional investors own 75.95% of the company’s stock.
In related news, Director Elizabeth P. Bruno sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $36.75, for a total value of $882,000.00. Following the sale, the director now owns 371,509 shares in the company, valued at $13,652,955.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 15.60% of the company’s stock.
BRC has been the topic of a number of research reports. Bank of America Corporation raised their price target 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 report on Thursday, August 24th. Zacks Investment Research cut Brady Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, BidaskClub cut Brady Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Brady Corporation presently has a consensus rating of “Hold” and a consensus target price of $39.25.
Brady Corporation (NYSE:BRC) opened at 39.10 on Tuesday. The stock has a 50 day moving average of $34.91 and a 200 day moving average of $35.90. The company has a market cap of $2.01 billion, a PE ratio of 21.42 and a beta of 1.12. 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 quarterly earnings data on Thursday, September 7th. The industrial products company reported $0.48 earnings per share for the quarter, beating 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 business had revenue of $289.20 million for the quarter, compared to analyst estimates of $280.47 million. During the same period in the prior year, the company earned $0.49 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. Equities research analysts predict that Brady Corporation will post $1.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Tuesday, October 10th will be issued a dividend of $0.83 per share. This is an increase from Brady Corporation’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, October 6th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 8.49%. Brady Corporation’s payout ratio is 44.57%.
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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.
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