Comerica Bank lessened its stake in shares of Brady Corporation (NYSE:BRC) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,061 shares of the industrial products company’s stock after selling 2,651 shares during the quarter. Comerica Bank owned about 0.10% of Brady Corporation worth $1,682,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in shares of Brady Corporation by 0.4% during the second quarter. Arizona State Retirement System now owns 24,915 shares of the industrial products company’s stock worth $845,000 after purchasing an additional 100 shares during the last quarter. Suntrust Banks Inc. grew its holdings in Brady Corporation by 1.6% during the first quarter. Suntrust Banks Inc. now owns 7,933 shares of the industrial products company’s stock worth $306,000 after acquiring an additional 128 shares during the period. Municipal Employees Retirement System of Michigan grew its holdings in Brady Corporation by 1.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 13,400 shares of the industrial products company’s stock worth $518,000 after acquiring an additional 210 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Brady Corporation by 2.7% during the first quarter. BNP Paribas Arbitrage SA now owns 10,798 shares of the industrial products company’s stock worth $417,000 after acquiring an additional 281 shares during the period. Finally, Texas Permanent School Fund grew its holdings in Brady Corporation by 1.1% during the second quarter. Texas Permanent School Fund now owns 34,868 shares of the industrial products company’s stock worth $1,182,000 after acquiring an additional 393 shares during the period. Institutional investors and hedge funds own 76.57% of the company’s stock.
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Shares of Brady Corporation (NYSE BRC) opened at 36.40 on Wednesday. Brady Corporation has a 12-month low of $31.70 and a 12-month high of $40.50. The firm has a 50-day moving average price of $33.16 and a 200 day moving average price of $36.11. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 19.68 and a beta of 1.11.
Brady Corporation (NYSE:BRC) last posted its quarterly earnings data on Thursday, September 7th. The industrial products company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. Brady Corporation had a return on equity of 13.93% and a net margin of 8.59%. The company had revenue of $289.20 million for the quarter, compared to the consensus estimate of $280.47 million. During the same quarter in the previous year, the business earned $0.49 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that Brady Corporation will post $1.91 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Tuesday, October 10th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 9.12%. This is a boost from Brady Corporation’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, October 6th. Brady Corporation’s payout ratio is presently 44.57%.
BRC has been the topic of a number of recent analyst reports. BidaskClub lowered Brady Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Zacks Investment Research lowered Brady Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. Robert W. Baird set a $36.00 price objective on Brady Corporation and gave the stock a “hold” rating in a report on Thursday, August 24th. Finally, Bank of America Corporation upped their price objective on Brady Corporation from $33.00 to $34.00 and gave the stock an “underperform” rating in a report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $38.20.
Brady Corporation 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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