Brady Corporation $BRC Stock: Royce & Associates LP Trims Stake

Royce & Associates LP trimmed its holdings in shares of Brady Corporation (NYSE:BRC) by 18.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 383,514 shares of the industrial products company’s stock after selling 84,110 shares during the quarter. Royce & Associates LP owned 0.82% of Brady worth $32,020,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Nykredit A S bought a new position in shares of Brady in the 2nd quarter valued at about $34,000. Integrated Wealth Concepts LLC bought a new stake in Brady during the second quarter worth approximately $47,000. Parkside Financial Bank & Trust increased its stake in Brady by 3,072.2% during the second quarter. Parkside Financial Bank & Trust now owns 571 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 553 shares during the last quarter. Signaturefd LLC increased its stake in Brady by 133.7% during the third quarter. Signaturefd LLC now owns 652 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 373 shares during the last quarter. Finally, Brown Lisle Cummings Inc. raised its position in Brady by 2,205.9% during the third quarter. Brown Lisle Cummings Inc. now owns 784 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 750 shares during the period. 76.28% of the stock is currently owned by hedge funds and other institutional investors.

Brady Trading Up 0.2%

Shares of BRC traded up $0.13 during midday trading on Friday, hitting $82.75. The stock had a trading volume of 432,712 shares, compared to its average volume of 277,303. Brady Corporation has a 1 year low of $70.57 and a 1 year high of $99.29. The firm has a market cap of $3.88 billion, a PE ratio of 19.20 and a beta of 0.62. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.94 and a quick ratio of 1.30. The stock’s 50 day moving average is $83.76 and its 200 day moving average is $86.86.

Brady (NYSE:BRC) last released its earnings results on Thursday, September 3rd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.01. The firm had revenue of $436.90 million during the quarter, compared to analyst estimates of $427.91 million. Brady had a net margin of 12.36% and a return on equity of 19.21%. The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business earned $1.04 EPS. Brady has set its FY 2027 guidance at 6.250-6.750 EPS. As a group, analysts forecast that Brady Corporation will post 6.50 EPS for the current fiscal year.

Brady Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Friday, October 9th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, October 9th. This is an increase from Brady’s previous quarterly dividend of $0.2450. This represents a $1.00 annualized dividend and a yield of 1.2%. Brady’s payout ratio is 23.20%.

Insider Activity

In other Brady news, COO Thomas DeBruine sold 5,739 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $84.00, for a total transaction of $482,076.00. Following the completion of the transaction, the chief operating officer owned 7,523 shares in the company, valued at $631,932. The trade was a 43.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 15.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Weiss Ratings lowered Brady from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. Wall Street Zen upgraded Brady from a “hold” rating to a “buy” rating in a report on Sunday, October 4th. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $103.00.

About Brady

Brady Corporation develops and manufactures identification and workplace safety products for businesses and organizations. Its offerings include labels, signs, safety devices, identification materials, and printing systems used to identify products, equipment, facilities, and people. The company also provides software and related solutions for creating and managing identification materials, as well as products for applications such as wire and cable marking, asset tracking, and workplace safety.