MetLife Investment Advisors LLC bought a new stake in shares of Brady Co. (NYSE:BRC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 21,723 shares of the industrial products company’s stock, valued at approximately $823,000.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Louisiana State Employees Retirement System raised its stake in Brady by 6.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 20,700 shares of the industrial products company’s stock valued at $785,000 after purchasing an additional 1,300 shares during the period. Meadow Creek Investment Management LLC raised its stake in Brady by 25.3% during the 4th quarter. Meadow Creek Investment Management LLC now owns 6,664 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 1,344 shares during the period. Nisa Investment Advisors LLC raised its stake in Brady by 5.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 29,070 shares of the industrial products company’s stock valued at $1,102,000 after purchasing an additional 1,500 shares during the period. Victory Capital Management Inc. raised its stake in Brady by 6.5% during the 4th quarter. Victory Capital Management Inc. now owns 27,628 shares of the industrial products company’s stock valued at $1,047,000 after purchasing an additional 1,676 shares during the period. Finally, American International Group Inc. raised its stake in Brady by 5.7% during the 3rd quarter. American International Group Inc. now owns 36,957 shares of the industrial products company’s stock valued at $1,403,000 after purchasing an additional 1,992 shares during the period. 79.21% of the stock is currently owned by institutional investors.
Shares of BRC opened at $37.10 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.75 and a current ratio of 2.41. Brady Co. has a 12-month low of $31.70 and a 12-month high of $40.25. The company has a market cap of $1,944.19, a P/E ratio of 21.20, a price-to-earnings-growth ratio of 2.52 and a beta of 1.13.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Monday, April 9th will be paid a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Friday, April 6th. Brady’s payout ratio is 47.43%.
In other Brady news, VP Bentley Curran sold 21,784 shares of Brady stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $39.01, for a total value of $849,793.84. Following the sale, the vice president now owns 52,597 shares of the company’s stock, valued at approximately $2,051,808.97. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 15.60% of the company’s stock.
Several brokerages recently issued reports on BRC. Zacks Investment Research raised Brady from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Friday, March 30th. Bank of America raised Brady from an “underperform” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $39.50.
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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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