Teachers Retirement System of The State of Kentucky cut its stake in Brady Corp (NYSE:BRC) by 5.4% during the fourth quarter, Holdings Channel reports. The firm owned 15,800 shares of the company’s stock after selling 900 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Brady Corp were worth $593,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of BRC. AQR Capital Management LLC boosted its position in shares of Brady Corp by 3.1% in the fourth quarter. AQR Capital Management LLC now owns 258,526 shares of the company’s stock valued at $9,708,000 after buying an additional 7,696 shares during the period. A.R.T. Advisors LLC boosted its position in shares of Brady Corp by 42.5% in the fourth quarter. A.R.T. Advisors LLC now owns 10,400 shares of the company’s stock valued at $390,000 after buying an additional 3,100 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Brady Corp by 2.1% in the fourth quarter. Public Sector Pension Investment Board now owns 33,696 shares of the company’s stock valued at $1,265,000 after buying an additional 700 shares during the period. Capstone Investment Advisors LLC purchased a new position in shares of Brady Corp during the fourth quarter valued at about $385,000. Finally, New York State Teachers Retirement System boosted its position in shares of Brady Corp by 16.4% in the fourth quarter. New York State Teachers Retirement System now owns 134,425 shares of the company’s stock valued at $5,048,000 after buying an additional 18,900 shares during the period. 77.08% of the stock is owned by institutional investors and hedge funds.
Shares of Brady Corp (NYSE:BRC) opened at 38.05 on Tuesday. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 20.74 and a beta of 1.12. Brady Corp has a 52 week low of $25.98 and a 52 week high of $40.50. The stock has a 50 day moving average of $38.49 and a 200-day moving average of $36.49.
Brady Corp (NYSE:BRC) last posted its quarterly earnings results on Thursday, February 23rd. The company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.05. The firm had revenue of $268 million for the quarter, compared to analysts’ expectations of $262.59 million. Brady Corp had a net margin of 7.51% and a return on equity of 14.14%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 earnings per share. On average, analysts anticipate that Brady Corp will post $1.81 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 7th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Wednesday, April 5th. Brady Corp’s payout ratio is presently 49.70%.
Several brokerages have issued reports on BRC. Zacks Investment Research raised shares of Brady Corp from a “sell” rating to a “hold” rating and set a $44.00 target price for the company in a report on Thursday, February 16th. Northcoast Research raised shares of Brady Corp from a “neutral” rating to a “buy” rating and set a $45.00 target price for the company in a report on Wednesday, February 15th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Brady Corp presently has an average rating of “Hold” and an average target price of $53.80.
In other news, VP Bentley Curran sold 20,803 shares of the company’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $39.69, for a total value of $825,671.07. Following the transaction, the vice president now directly owns 29,865 shares in the company, valued at $1,185,341.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 15.60% of the company’s stock.
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, and the WPS segment includes workplace safety and compliance products.
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