Everence Capital Management Inc. raised its stake in Brady Corp (NYSE:BRC) by 162.7% in the 1st quarter, HoldingsChannel reports. The fund owned 16,390 shares of the industrial products company’s stock after buying an additional 10,150 shares during the quarter. Everence Capital Management Inc.’s holdings in Brady were worth $761,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Brady during the 4th quarter worth $43,189,000. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Brady by 76.1% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,242,625 shares of the industrial products company’s stock worth $54,005,000 after buying an additional 536,950 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Brady by 1,718.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 539,537 shares of the industrial products company’s stock worth $25,040,000 after buying an additional 509,867 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Brady by 3.0% during the 4th quarter. BlackRock Inc. now owns 7,074,270 shares of the industrial products company’s stock worth $307,446,000 after buying an additional 208,942 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Brady by 150.7% during the 4th quarter. Acadian Asset Management LLC now owns 202,261 shares of the industrial products company’s stock worth $8,788,000 after buying an additional 121,595 shares in the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the company. Zacks Investment Research cut Brady from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Northcoast Research reissued a “buy” rating on shares of Brady in a report on Wednesday, February 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $46.00.
Shares of BRC stock opened at $47.30 on Wednesday. The firm has a market cap of $2.50 billion, a P/E ratio of 23.19, a PEG ratio of 2.74 and a beta of 0.98. Brady Corp has a twelve month low of $36.00 and a twelve month high of $50.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 3.06.
Brady (NYSE:BRC) last issued its quarterly earnings data on Thursday, February 21st. The industrial products company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $282.40 million for the quarter, compared to analyst estimates of $285.50 million. Brady had a return on equity of 15.17% and a net margin of 10.31%. Brady’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS. Equities research analysts expect that Brady Corp will post 2.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 9th were given a dividend of $0.2125 per share. The ex-dividend date was Monday, April 8th. This represents a $0.85 dividend on an annualized basis and a yield of 1.80%. Brady’s dividend payout ratio is currently 41.67%.
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.
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