New York State Teachers Retirement System held its stake in shares of Brady Corp. (NYSE:BRC) during the second quarter, Holdings Channel reports. The institutional investor owned 115,525 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in Brady Corp. were worth $3,530,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. LS Investment Advisors LLC boosted its stake in shares of Brady Corp. by 1.0% in the second quarter. LS Investment Advisors LLC now owns 7,741 shares of the company’s stock worth $237,000 after buying an additional 73 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Brady Corp. by 65.5% in the second quarter. Acadian Asset Management LLC now owns 394,976 shares of the company’s stock worth $12,070,000 after buying an additional 156,327 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of 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. Capstone Asset Management Co. boosted its stake in shares of Brady Corp. by 2.8% in the second quarter. Capstone Asset Management Co. now owns 13,929 shares of the company’s stock worth $426,000 after buying an additional 380 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Brady Corp. by 93.5% in the second quarter. BNP Paribas Arbitrage SA now owns 15,802 shares of the company’s stock worth $483,000 after buying an additional 7,635 shares in the last quarter. 75.37% of the stock is owned by institutional investors.
Brady Corp. (NYSE:BRC) traded up 0.90% during trading on Monday, hitting $34.81. The company had a trading volume of 160,016 shares. The stock has a 50-day moving average of $34.21 and a 200-day moving average of $30.89. Brady Corp. has a one year low of $20.35 and a one year high of $36.12. The stock has a market capitalization of $1.76 billion, a PE ratio of 22.06 and a beta of 1.17.
Brady Corp. (NYSE:BRC) last released its earnings results on Friday, September 9th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.12. The firm earned $282.10 million during the quarter. Brady Corp. had a return on equity of 13.73% and a net margin of 7.15%. Brady Corp.’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the company posted $0.28 EPS. On average, equities analysts anticipate that Brady Corp. will post $1.70 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Tuesday, October 11th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Thursday, October 6th. This is a boost from Brady Corp.’s previous quarterly dividend of $0.20. Brady Corp.’s dividend payout ratio is 51.90%.
A number of brokerages have weighed in on BRC. Zacks Investment Research raised Brady Corp. from a “hold” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research report on Tuesday, September 27th. SunTrust Banks Inc. raised Brady Corp. from a “reduce” rating to a “neutral” rating and boosted their price objective for the stock from $24.00 to $34.00 in a research report on Tuesday, September 13th. Finally, Robert W. Baird boosted 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. One investment 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 company’s stock. Brady Corp. presently has an average rating of “Hold” and an average price target of $48.60.
In other Brady Corp. news, VP Thomas J. Felmer sold 13,431 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $35.21, for a total transaction of $472,905.51. Following the completion of the transaction, the vice president now owns 74,927 shares in the company, valued at approximately $2,638,179.67. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Bentley Curran sold 6,378 shares of the stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $34.71, for a total value of $221,380.38. Following the transaction, the vice president now owns 36,459 shares of the company’s stock, valued at approximately $1,265,491.89. The disclosure for this sale can be found here. Company insiders own 15.60% of the company’s stock.
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.
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