Brady Corp (BRC) Stake Increased by Stone Ridge Asset Management LLC
Stone Ridge Asset Management LLC lifted its position in shares of Brady Corp (NYSE:BRC) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 40,638 shares of the industrial products company’s stock after buying an additional 278 shares during the period. Stone Ridge Asset Management LLC’s holdings in Brady were worth $1,766,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of BRC. Bank of New York Mellon Corp raised its holdings in shares of Brady by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 772,353 shares of the industrial products company’s stock worth $29,774,000 after acquiring an additional 19,475 shares in the last quarter. First Trust Advisors LP increased its position in Brady by 40.6% during the third quarter. First Trust Advisors LP now owns 44,818 shares of the industrial products company’s stock worth $1,961,000 after buying an additional 12,951 shares during the last quarter. Victory Capital Management Inc. increased its position in Brady by 17.4% during the third quarter. Victory Capital Management Inc. now owns 35,555 shares of the industrial products company’s stock worth $1,556,000 after buying an additional 5,272 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Brady during the third quarter worth $257,000. Finally, American Century Companies Inc. increased its position in Brady by 3.2% during the third quarter. American Century Companies Inc. now owns 207,215 shares of the industrial products company’s stock worth $9,066,000 after buying an additional 6,424 shares during the last quarter. 77.81% of the stock is owned by institutional investors.
Several equities analysts have commented on the stock. Zacks Investment Research raised shares of Brady from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Thursday, February 14th. Northcoast Research reissued a “buy” rating on shares of Brady in a research report on Wednesday, February 13th. Finally, SunTrust Banks reissued a “hold” rating and set a $43.00 target price on shares of Brady in a research report on Monday, November 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Brady presently has an average rating of “Hold” and a consensus price target of $46.00.
Brady (NYSE:BRC) last issued its quarterly earnings results on Thursday, February 21st. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. Brady had a return on equity of 15.17% and a net margin of 10.31%. The company had revenue of $282.40 million for the quarter, compared to the consensus estimate of $285.50 million. During the same period last year, the business posted $0.48 earnings per share. The firm’s revenue was down 1.9% compared to the same quarter last year. As a group, equities analysts predict that Brady Corp will post 2.31 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 9th will be given a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Monday, April 8th. Brady’s dividend payout ratio (DPR) is presently 41.67%.
In other Brady news, VP Thomas J. Felmer sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $47.00, for a total transaction of $940,000.00. Following the completion of the transaction, the vice president now owns 60,705 shares in the company, valued at $2,853,135. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Bentley Curran sold 7,000 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $47.40, for a total transaction of $331,800.00. Following the transaction, the vice president now owns 37,711 shares of the company’s stock, valued at approximately $1,787,501.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,287 shares of company stock worth $5,283,808. 15.60% of the stock is owned by company insiders.
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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 IDS segment offers safety signs, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials and printing systems for product identification, brand protection labeling, work in process labeling, and finished product identification; and hand-held printers, wire markers, sleeves, and tags for wire identification, as well as software and services for safety compliance auditing, procedure writing, and training.
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