Royal Bank of Canada Buys 8,628 Shares of Brady Corporation $BRC

Royal Bank of Canada raised its stake in shares of Brady Corporation (NYSE:BRC) by 346.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,120 shares of the industrial products company’s stock after acquiring an additional 8,628 shares during the quarter. Royal Bank of Canada’s holdings in Brady were worth $904,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in BRC. Advisory Services Network LLC acquired a new position in Brady in the third quarter valued at about $31,000. Global Retirement Partners LLC increased its holdings in Brady by 42.4% during the 4th quarter. Global Retirement Partners LLC now owns 450 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 134 shares in the last quarter. Leonteq Securities AG bought a new position in Brady in the 1st quarter valued at $40,000. EverSource Wealth Advisors LLC boosted its stake in Brady by 89.0% in the second quarter. EverSource Wealth Advisors LLC now owns 684 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 322 shares in the last quarter. Finally, Danske Bank A S bought a new stake in shares of Brady during the third quarter worth $70,000. Institutional investors own 76.28% of the company’s stock.

Brady Trading Up 0.3%

NYSE BRC opened at $90.98 on Friday. Brady Corporation has a one year low of $70.57 and a one year high of $99.29. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.01 and a quick ratio of 1.36. The firm has a market cap of $4.29 billion, a P/E ratio of 20.72 and a beta of 0.61. The stock’s 50-day moving average is $92.04 and its 200-day moving average is $87.68.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BRC. Weiss Ratings reiterated a “buy (b)” rating on shares of Brady in a research report on Friday, August 7th. Sidoti upgraded shares of Brady from a “neutral” rating to a “buy” rating and set a $103.00 target price on the stock in a research report on Tuesday, June 9th. Finally, Wall Street Zen raised shares of Brady from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $103.00.

Insider Activity at Brady

In related news, CEO Vineet A. Nargolwala acquired 13,011 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were acquired at an average cost of $76.86 per share, with a total value of $1,000,025.46. Following the transaction, the chief executive officer owned 52,709 shares of the company’s stock, valued at $4,051,213.74. The trade was a 32.77% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.60% of the stock is currently owned by insiders.

About Brady

Brady Corporation is a global provider of identification and safety solutions, specializing in the design, manufacture and sale of products that help businesses improve safety, security and efficiency. The company offers an array of durable labels, signs, safety devices, printing systems and software platforms tailored to a wide range of industrial and commercial environments.

Founded in 1914 by William H. Brady, Brady Corporation has grown from a regional marker manufacturer into a diversified global enterprise.