BlackRock Group LTD increased its stake in shares of Brady Corporation (NYSE:BRC) by 3.5% during the third quarter, Holdings Channel reports. The fund owned 68,794 shares of the company’s stock after buying an additional 2,324 shares during the period. BlackRock Group LTD owned about 0.14% of Brady Corporation worth $2,381,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in Brady Corporation during the third quarter worth $207,000. O Shaughnessy Asset Management LLC acquired a new stake in Brady Corporation during the second quarter worth $190,000. Teacher Retirement System of Texas boosted its stake in Brady Corporation by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 6,576 shares of the company’s stock worth $201,000 after buying an additional 790 shares during the period. First Quadrant L P CA acquired a new stake in Brady Corporation during the third quarter worth $258,000. Finally, BlackRock Inc. boosted its stake in Brady Corporation by 105.8% in the second quarter. BlackRock Inc. now owns 7,497 shares of the company’s stock worth $229,000 after buying an additional 3,855 shares during the period. 75.01% of the stock is owned by institutional investors.
Brady Corporation (NYSE:BRC) traded down 0.55% on Friday, reaching $36.05. The company’s stock had a trading volume of 101,792 shares. The firm has a 50 day moving average of $37.22 and a 200 day moving average of $34.86. Brady Corporation has a 12 month low of $20.73 and a 12 month high of $39.60. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 21.85 and a beta of 1.12.
Brady Corporation (NYSE:BRC) last posted its quarterly earnings data on Wednesday, November 16th. The company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Brady Corporation had a return on equity of 14.14% and a net margin of 7.51%. The business had revenue of $280.20 million for the quarter, compared to analysts’ expectations of $277.87 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The business’s revenue was down 1.0% on a year-over-year basis. Analysts anticipate that Brady Corporation will post $1.68 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Tuesday, January 10th will be given a $0.205 dividend. The ex-dividend date is Friday, January 6th. This represents a $0.82 annualized dividend and a yield of 2.27%. Brady Corporation’s dividend payout ratio is currently 49.70%.
Separately, Zacks Investment Research cut Brady Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, December 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $48.60.
In other Brady Corporation news, Director Frank W. Harris sold 5,000 shares of the business’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $36.91, for a total value of $184,550.00. Following the sale, the director now directly owns 28,008 shares in the company, valued at $1,033,775.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Thomas J. Felmer sold 5,729 shares of the business’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $37.51, for a total value of $214,894.79. Following the completion of the sale, the vice president now owns 69,247 shares in the company, valued at $2,597,454.97. The disclosure for this sale can be found here. In the last three months, insiders sold 22,729 shares of company stock worth $855,983. Insiders own 15.60% of the company’s stock.
Brady Corporation 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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