Eaton Vance Management continued to hold its stake in shares of Brady Corp. (NYSE:BRC) during the second quarter, Holdings Channel reports. The firm owned 11,481 shares of the company’s stock at the end of the second quarter. Eaton Vance Management’s holdings in Brady Corp. were worth $351,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Bayesian Capital Management LP purchased a new stake in shares of Brady Corp. during the first quarter valued at about $224,000. Springbok Capital Management LLC raised its position in Brady Corp. by 37.1% in the first quarter. Springbok Capital Management LLC now owns 8,364 shares of the company’s stock valued at $224,000 after buying an additional 2,264 shares during the period. LS Investment Advisors LLC raised its position in Brady Corp. by 1.0% in the second quarter. LS Investment Advisors LLC now owns 7,741 shares of the company’s stock valued at $237,000 after buying an additional 73 shares during the period. Acrospire Investment Management LLC bought a new position in Brady Corp. during the first quarter valued at $253,000. Finally, Boothbay Fund Management LLC bought a new position in Brady Corp. during the first quarter valued at $277,000. Institutional investors and hedge funds own 75.73% of the company’s stock.
Shares of Brady Corp. (NYSE:BRC) traded up 0.35% during midday trading on Friday, hitting $34.61. The stock had a trading volume of 365,951 shares. The company’s 50 day moving average price is $33.82 and its 200-day moving average price is $30.61. The firm has a market capitalization of $1.75 billion, a PE ratio of 21.93 and a beta of 1.12. Brady Corp. has a 1-year low of $20.35 and a 1-year high of $36.12.
Brady Corp. (NYSE:BRC) last announced its quarterly earnings results on Friday, September 9th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.12. Brady Corp. had a net margin of 7.15% and a return on equity of 13.73%. The company earned $282.10 million during the quarter. During the same period last year, the firm earned $0.28 EPS. Brady Corp.’s quarterly revenue was down 2.3% on a year-over-year basis. Equities analysts predict that Brady Corp. will post $1.70 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Tuesday, October 11th will be paid a $0.205 dividend. The ex-dividend date is Thursday, October 6th. This is a positive change from Brady Corp.’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a yield of 2.37%. Brady Corp.’s dividend payout ratio is presently 51.27%.
Several research firms have weighed in on BRC. Zacks Investment Research upgraded Brady Corp. from a “hold” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a report on Tuesday, September 27th. SunTrust Banks Inc. upgraded Brady Corp. from a “reduce” rating to a “neutral” rating and raised their target price for the company from $24.00 to $34.00 in a report on Tuesday, September 13th. Finally, Robert W. Baird raised their target price on Brady Corp. from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, September 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Brady Corp. currently has a consensus rating of “Hold” and a consensus target price of $48.60.
In related news, VP Thomas J. Felmer sold 13,431 shares of the company’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $35.21, for a total value of $472,905.51. Following the completion of the transaction, the vice president now directly owns 74,927 shares of the company’s stock, valued at approximately $2,638,179.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Bentley Curran sold 6,378 shares of the business’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $34.71, for a total transaction of $221,380.38. Following the sale, the vice president now directly owns 36,459 shares in the company, valued at $1,265,491.89. The disclosure for this sale can be found here. 15.60% of the stock is currently owned by corporate insiders.
Brady Corp. Company Profile
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 that are manufactured under various brands, including the Brady brand, and are primarily sold through distribution to a range of maintenance, repair and operations (MRO) and original equipment manufacturing (OEM) customers, and through other channels, including direct sales, catalog marketing and digital.
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