Bank of New York Mellon Corp Has $28.62 Million Holdings in Brady Corporation (BRC)
Bank of New York Mellon Corp raised its stake in shares of Brady Corporation (NYSE:BRC) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 754,197 shares of the industrial products company’s stock after buying an additional 9,325 shares during the quarter. Bank of New York Mellon Corp owned about 1.47% of Brady worth $28,621,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in BRC. Strs Ohio boosted its holdings in shares of Brady by 5.7% during the second quarter. Strs Ohio now owns 29,700 shares of the industrial products company’s stock worth $1,006,000 after purchasing an additional 1,600 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Brady by 1.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 13,640 shares of the industrial products company’s stock worth $462,000 after purchasing an additional 240 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Brady by 4.3% during the second quarter. Great West Life Assurance Co. Can now owns 70,360 shares of the industrial products company’s stock worth $2,382,000 after purchasing an additional 2,900 shares during the last quarter. Texas Permanent School Fund boosted its holdings in shares of Brady by 1.1% during the second quarter. Texas Permanent School Fund now owns 34,868 shares of the industrial products company’s stock worth $1,182,000 after purchasing an additional 393 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Brady during the second quarter worth $298,000. Hedge funds and other institutional investors own 76.88% of the company’s stock.
Shares of Brady Corporation (NYSE:BRC) opened at $39.25 on Tuesday. Brady Corporation has a fifty-two week low of $31.70 and a fifty-two week high of $40.50. The company has a current ratio of 2.19, a quick ratio of 1.62 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2,015.92, a price-to-earnings ratio of 21.72, a PEG ratio of 2.70 and a beta of 1.19.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 10th will be given a $0.2075 dividend. This represents a $0.83 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Tuesday, January 9th. Brady’s dividend payout ratio (DPR) is currently 43.92%.
BRC has been the topic of several analyst reports. Zacks Investment Research upgraded Brady from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Wednesday, November 8th. Robert W. Baird set a $36.00 price objective on Brady and gave the stock a “hold” rating in a report on Thursday, August 24th. SunTrust Banks restated a “hold” rating and set a $39.00 price objective on shares of Brady in a report on Friday, November 17th. Finally, Bank of America raised their price objective on Brady from $33.00 to $34.00 and gave the stock an “underperform” rating in a report on Friday, September 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $39.60.
In related news, Director Bradley C. Richardson sold 1,400 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $39.15, for a total value of $54,810.00. Following the transaction, the director now directly owns 2,511 shares of the company’s stock, valued at approximately $98,305.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth P. Bruno sold 24,000 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 371,509 shares in the company, valued at $13,652,955.75. The disclosure for this sale can be found here. Insiders sold a total of 39,380 shares of company stock worth $1,484,060 over the last ninety days. Corporate insiders own 15.60% of the company’s stock.
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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