Principal Financial Group Inc. increased its position in Brady Corp. (NYSE:BRC) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 339,753 shares of the company’s stock after buying an additional 9,757 shares during the period. Principal Financial Group Inc. owned 0.68% of Brady Corp. worth $10,382,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the company. SECOR Capital Advisors LP boosted its stake in Brady Corp. by 68.9% in the second quarter. SECOR Capital Advisors LP now owns 38,983 shares of the company’s stock worth $1,192,000 after buying an additional 15,904 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Brady Corp. by 1.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,184,826 shares of the company’s stock worth $31,801,000 after buying an additional 21,377 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Brady Corp. by 0.8% in the second quarter. Nisa Investment Advisors LLC now owns 38,700 shares of the company’s stock worth $1,183,000 after buying an additional 300 shares in the last quarter. UBS Group AG boosted its stake in Brady Corp. by 139.4% in the first quarter. UBS Group AG now owns 22,580 shares of the company’s stock worth $606,000 after buying an additional 13,150 shares in the last quarter. Finally, Springbok Capital Management LLC boosted its stake in Brady Corp. by 37.1% in the first quarter. Springbok Capital Management LLC now owns 8,364 shares of the company’s stock worth $224,000 after buying an additional 2,264 shares in the last quarter. Hedge funds and other institutional investors own 75.37% of the company’s stock.
Shares of Brady Corp. (NYSE:BRC) opened at 34.13 on Friday. The stock has a market cap of $1.72 billion, a PE ratio of 21.63 and a beta of 1.17. The firm has a 50-day moving average price of $34.40 and a 200 day moving average price of $31.13. Brady Corp. has a 12-month low of $20.35 and a 12-month high of $36.12.
Brady Corp. (NYSE:BRC) last announced its quarterly earnings data on Friday, September 9th. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.12. The business earned $282.10 million during the quarter. Brady Corp. had a return on equity of 13.73% and a net margin of 7.15%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 EPS. Equities research analysts predict that Brady Corp. will post $1.70 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Tuesday, October 11th will be issued a $0.205 dividend. This is a positive change from Brady Corp.’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $0.82 annualized dividend and a dividend yield of 2.40%. Brady Corp.’s dividend payout ratio is 51.90%.
A number of analysts recently commented on BRC shares. SunTrust Banks Inc. upgraded Brady Corp. from a “reduce” rating to a “neutral” rating and lifted their price objective for the stock from $24.00 to $34.00 in a research report on Tuesday, September 13th. Robert W. Baird lifted their price objective on Brady Corp. from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, September 12th. Finally, Zacks Investment Research upgraded Brady Corp. from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a research report on Tuesday, September 27th. One analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Brady Corp. currently has an average rating of “Hold” and a consensus price target of $48.60.
In other news, VP Bentley Curran sold 6,378 shares of the company’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $34.71, for a total value of $221,380.38. Following the completion of the sale, the vice president now owns 36,459 shares in the company, valued at $1,265,491.89. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Thomas J. Felmer sold 3,395 shares of the company’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $35.01, for a total value of $118,858.95. Following the completion of the sale, the vice president now owns 76,753 shares of the company’s stock, valued at approximately $2,687,122.53. The disclosure for this sale can be found here. 15.60% of the stock is owned by 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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