Alambic Investment Management L.P. boosted its holdings in Brady Corp (NYSE:BRC) by 33.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,800 shares of the industrial products company’s stock after acquiring an additional 20,654 shares during the period. Brady accounts for 0.9% of Alambic Investment Management L.P.’s holdings, making the stock its 16th biggest position. Alambic Investment Management L.P. owned about 0.16% of Brady worth $3,153,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of BRC. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Brady by 95.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,941 shares of the industrial products company’s stock worth $146,000 after purchasing an additional 1,921 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of Brady during the 2nd quarter worth $212,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Brady during the 1st quarter worth $237,000. Verition Fund Management LLC bought a new stake in shares of Brady during the 1st quarter worth $243,000. Finally, Raymond James & Associates bought a new stake in shares of Brady during the 2nd quarter worth $253,000. Institutional investors and hedge funds own 75.99% of the company’s stock.
Several equities analysts have commented on the company. Zacks Investment Research upgraded Brady from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Monday, May 28th. Bank of America downgraded Brady from a “buy” rating to an “underperform” rating and set a $40.00 target price for the company. in a research report on Monday, July 16th. Finally, ValuEngine upgraded Brady from a “hold” rating to a “buy” rating in a research report on Thursday, September 6th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $39.75.
In related news, VP Bentley Curran sold 13,790 shares of Brady stock in a transaction that occurred on Tuesday, June 26th. The stock was sold at an average price of $39.61, for a total transaction of $546,221.90. Following the transaction, the vice president now owns 41,189 shares of the company’s stock, valued at $1,631,496.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas J. Felmer sold 11,667 shares of Brady stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $41.55, for a total value of $484,763.85. Following the transaction, the vice president now directly owns 69,782 shares in the company, valued at approximately $2,899,442.10. The disclosure for this sale can be found here. Insiders have sold 38,124 shares of company stock valued at $1,544,109 in the last ninety days. 15.60% of the stock is currently owned by insiders.
Shares of BRC opened at $45.15 on Friday. Brady Corp has a 1 year low of $35.00 and a 1 year high of $45.28. The company has a quick ratio of 1.71, a current ratio of 2.34 and a debt-to-equity ratio of 0.08. The stock has a market cap of $2.15 billion, a PE ratio of 25.80, a P/E/G ratio of 2.56 and a beta of 1.13.
Brady (NYSE:BRC) last issued its quarterly earnings data on Thursday, September 13th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.14. Brady had a return on equity of 14.23% and a net margin of 6.98%. The company had revenue of $297.50 million during the quarter, compared to the consensus estimate of $297.04 million. During the same period last year, the company earned $0.48 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. research analysts anticipate that Brady Corp will post 1.99 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Wednesday, October 10th will be paid a dividend of $0.85 per share. The ex-dividend date is Tuesday, October 9th. This represents a $3.40 annualized dividend and a yield of 7.53%. This is a boost from Brady’s previous quarterly dividend of $0.21. Brady’s dividend payout ratio (DPR) is currently 47.43%.
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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