Brady Corp (BRC) Shares Sold by Raymond James & Associates

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Raymond James & Associates reduced its stake in Brady Corp (NYSE:BRC) by 31.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,882 shares of the industrial products company’s stock after selling 2,233 shares during the quarter. Raymond James & Associates’ holdings in Brady were worth $212,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its holdings in Brady by 7.1% in the 3rd quarter. Legal & General Group Plc now owns 111,573 shares of the industrial products company’s stock valued at $4,874,000 after acquiring an additional 7,397 shares during the period. Pacer Advisors Inc. raised its holdings in Brady by 125.1% in the 3rd quarter. Pacer Advisors Inc. now owns 6,049 shares of the industrial products company’s stock valued at $265,000 after acquiring an additional 3,362 shares during the period. MetLife Investment Advisors LLC raised its holdings in Brady by 55.4% in the 3rd quarter. MetLife Investment Advisors LLC now owns 33,758 shares of the industrial products company’s stock valued at $1,477,000 after acquiring an additional 12,035 shares during the period. James Investment Research Inc. bought a new position in Brady in the 4th quarter valued at about $1,108,000. Finally, Prudential Financial Inc. raised its holdings in Brady by 6.2% in the 4th quarter. Prudential Financial Inc. now owns 85,473 shares of the industrial products company’s stock valued at $3,715,000 after acquiring an additional 4,991 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:BRC opened at $49.10 on Wednesday. Brady Corp has a 12-month low of $35.95 and a 12-month high of $49.17. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 2.81 and a beta of 0.98. The company has a current ratio of 3.06, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06.

Brady (NYSE:BRC) last announced its earnings results on Thursday, February 21st. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. Brady had a net margin of 10.31% and a return on equity of 15.17%. The firm had revenue of $282.40 million for the quarter, compared to analyst estimates of $285.50 million. During the same quarter in the prior year, the business posted $0.48 EPS. The business’s revenue was down 1.9% compared to the same quarter last year. Equities analysts expect that Brady Corp will post 2.31 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 9th will be given a dividend of $0.2125 per share. The ex-dividend date is Monday, April 8th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 1.73%. Brady’s payout ratio is presently 41.67%.

BRC has been the topic of a number of analyst reports. Northcoast Research restated a “buy” rating on shares of Brady in a research report on Wednesday, February 13th. Zacks Investment Research upgraded shares of Brady from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Thursday, February 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Brady has a consensus rating of “Hold” and an average price target of $46.00.

In related news, VP Thomas J. Felmer sold 31,667 shares of the stock in a transaction that occurred on Friday, January 18th. The shares were sold at an average price of $46.00, for a total transaction of $1,456,682.00. Following the sale, the vice president now owns 72,040 shares in the company, valued at approximately $3,313,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas J. Felmer sold 20,000 shares of the stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $47.00, for a total transaction of $940,000.00. Following the sale, the vice president now owns 60,705 shares in the company, valued at approximately $2,853,135. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,958 shares of company stock worth $6,164,333. Company insiders own 15.60% of the company’s stock.

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Brady Company Profile

Brady Corporation manufactures and supplies identification solutions (IDS) and workplace safety (WPS) products to identify and protect premises, products, and people in the United States and internationally. The IDS segment offers safety signs, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials and printing systems for product identification, brand protection labeling, work in process labeling, and finished product identification; and hand-held printers, wire markers, sleeves, and tags for wire identification, as well as software and services for safety compliance auditing, procedure writing, and training.

Further Reading: Net Asset Value

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Institutional Ownership by Quarter for Brady (NYSE:BRC)

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