VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Position in Brady Corporation $BRC

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Brady Corporation (NYSE:BRC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 35,586 shares of the industrial products company’s stock, valued at approximately $3,259,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Franklin Resources Inc. increased its position in shares of Brady by 267.8% during the 4th quarter. Franklin Resources Inc. now owns 1,188,189 shares of the industrial products company’s stock valued at $93,118,000 after purchasing an additional 865,131 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Brady by 502,257.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 452,122 shares of the industrial products company’s stock worth $35,433,000 after purchasing an additional 452,032 shares during the period. First Trust Advisors LP grew its holdings in Brady by 22.2% during the 4th quarter. First Trust Advisors LP now owns 1,620,931 shares of the industrial products company’s stock valued at $127,032,000 after purchasing an additional 294,818 shares during the last quarter. Millennium Management LLC raised its position in Brady by 1,256.9% in the 1st quarter. Millennium Management LLC now owns 185,182 shares of the industrial products company’s stock worth $13,081,000 after purchasing an additional 171,535 shares during the period. Finally, Qube Research & Technologies Ltd boosted its position in shares of Brady by 37.2% during the second quarter. Qube Research & Technologies Ltd now owns 322,873 shares of the industrial products company’s stock valued at $21,946,000 after buying an additional 87,606 shares during the period. 76.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BRC shares. Sidoti upgraded Brady from a “neutral” rating to a “buy” rating and set a $103.00 price target on the stock in a report on Tuesday, June 9th. Wall Street Zen upgraded shares of Brady from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Finally, Weiss Ratings raised shares of Brady from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, August 31st. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Brady presently has an average rating of “Buy” and an average price target of $103.00.

Brady Price Performance

BRC opened at $87.44 on Thursday. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 20.29 and a beta of 0.61. The company has a current ratio of 1.94, a quick ratio of 1.30 and a debt-to-equity ratio of 0.01. Brady Corporation has a 12-month low of $70.57 and a 12-month high of $99.29. The business’s fifty day simple moving average is $93.10 and its 200-day simple moving average is $87.47.

Brady (NYSE:BRC) last released its quarterly earnings data on Thursday, September 3rd. The industrial products company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.01. Brady had a return on equity of 19.21% and a net margin of 12.36%.The firm had revenue of $436.90 million during the quarter, compared to the consensus estimate of $427.91 million. During the same period in the previous year, the company posted $1.04 earnings per share. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. Brady has set its FY 2027 guidance at 6.250-6.750 EPS. On average, equities research analysts anticipate that Brady Corporation will post 6.5 earnings per share for the current fiscal year.

Brady Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 9th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, October 9th. This is a boost from Brady’s previous quarterly dividend of $0.24. Brady’s dividend payout ratio is currently 22.74%.

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.