Shell Asset Management Co. held its stake in Brady Corp. (NYSE:BRC) during the second quarter, Holdings Channel reports. The fund owned 17,526 shares of the company’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Brady Corp. were worth $536,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Nisa Investment Advisors L.L.C. raised its stake in Brady Corp. by 36.7% in the first quarter. Nisa Investment Advisors L.L.C. now owns 38,400 shares of the company’s stock valued at $1,031,000 after buying an additional 10,300 shares during the last quarter. Pacad Investment Ltd. acquired a new stake in Brady Corp. during the first quarter valued at $306,000. Teachers Advisors Inc. raised its stake in Brady Corp. by 2.4% in the first quarter. Teachers Advisors Inc. now owns 74,390 shares of the company’s stock valued at $1,997,000 after buying an additional 1,751 shares during the last quarter. Prudential Financial Inc. raised its stake in Brady Corp. by 3.1% in the first quarter. Prudential Financial Inc. now owns 112,042 shares of the company’s stock valued at $3,007,000 after buying an additional 3,400 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in Brady Corp. by 9.1% in the first quarter. BlackRock Group LTD now owns 63,194 shares of the company’s stock valued at $1,696,000 after buying an additional 5,283 shares during the last quarter. Hedge funds and other institutional investors own 75.37% of the company’s stock.
Brady Corp. (NYSE:BRC) traded down 2.40% during midday trading on Friday, reaching $34.50. 282,135 shares of the company traded hands. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 21.86 and a beta of 1.17. Brady Corp. has a 12-month low of $20.35 and a 12-month high of $36.12. The company has a 50-day moving average price of $34.21 and a 200-day moving average price of $30.89.
Brady Corp. (NYSE:BRC) last posted its quarterly earnings data on Friday, September 9th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. Brady Corp. had a return on equity of 13.73% and a net margin of 7.15%. The company earned $282.10 million during the quarter. During the same period in the prior year, the company posted $0.28 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. On average, analysts predict that Brady Corp. will post $1.70 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Tuesday, October 11th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 2.38%. This is a boost from Brady Corp.’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, October 6th. Brady Corp.’s dividend payout ratio is currently 51.90%.
BRC has been the subject of several recent research reports. Zacks Investment Research lowered shares of Brady Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Robert W. Baird upped their price target on shares of Brady Corp. from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, September 12th. Finally, SunTrust Banks Inc. upgraded shares of Brady Corp. from a “reduce” rating to a “neutral” rating and upped their price target for the stock from $24.00 to $34.00 in a research report on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Brady Corp. has a consensus rating of “Hold” and an average price target of $48.60.
In other news, VP Thomas J. Felmer sold 13,431 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $35.21, for a total value of $472,905.51. Following the completion of the sale, the vice president now directly owns 74,927 shares of the company’s stock, valued at $2,638,179.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas J. Felmer sold 3,395 shares of the stock in a transaction that occurred 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 directly owns 76,753 shares of the company’s stock, valued at $2,687,122.53. The disclosure for this sale can be found here. 15.60% of the stock is owned by insiders.
About Brady Corp.
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.
Want to see what other hedge funds are holding BRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brady Corp. (NYSE:BRC).
Receive News & Ratings for Brady Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brady Corp. and related companies with MarketBeat.com's FREE daily email newsletter.