Swiss National Bank lessened its holdings in Brady Co. (NYSE:BRC) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 106,900 shares of the industrial products company’s stock after selling 3,900 shares during the period. Swiss National Bank owned about 0.21% of Brady worth $5,991,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BRC. Harvest Investment Services LLC grew its holdings in Brady by 4.1% during the 1st quarter. Harvest Investment Services LLC now owns 4,986 shares of the industrial products company’s stock valued at $266,000 after buying an additional 198 shares in the last quarter. Bruderman Asset Management LLC lifted its position in shares of Brady by 6.1% during the second quarter. Bruderman Asset Management LLC now owns 4,372 shares of the industrial products company’s stock worth $245,000 after purchasing an additional 251 shares during the last quarter. O Shares Investment Advisers LLC lifted its position in shares of Brady by 2.2% during the first quarter. O Shares Investment Advisers LLC now owns 17,226 shares of the industrial products company’s stock worth $921,000 after purchasing an additional 366 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in shares of Brady by 7.3% during the first quarter. Mutual of America Capital Management LLC now owns 6,475 shares of the industrial products company’s stock worth $346,000 after purchasing an additional 441 shares during the last quarter. Finally, Selective Wealth Management Inc. bought a new stake in shares of Brady in the second quarter valued at about $28,000. Institutional investors own 77.22% of the company’s stock.
Several analysts recently weighed in on the company. Wells Fargo & Company upgraded Brady from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $50.00 to $70.00 in a report on Tuesday, June 8th. They noted that the move was a valuation call. Zacks Investment Research upgraded Brady from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Friday, September 10th.
BRC opened at $49.74 on Friday. The business’s 50-day moving average is $52.89 and its two-hundred day moving average is $54.80. Brady Co. has a 1 year low of $37.47 and a 1 year high of $61.76. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.81 and a quick ratio of 1.28. The firm has a market capitalization of $2.59 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83.
Brady (NYSE:BRC) last issued its quarterly earnings results on Wednesday, September 1st. The industrial products company reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.01). Brady had a return on equity of 14.93% and a net margin of 11.33%. The business had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $301.71 million. During the same quarter in the previous year, the firm posted $0.53 EPS. Brady’s revenue was up 21.6% on a year-over-year basis. As a group, sell-side analysts expect that Brady Co. will post 3.26 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Friday, October 8th will be paid a dividend of $0.225 per share. This is a positive change from Brady’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, October 7th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.81%. Brady’s payout ratio is presently 33.21%.
Brady Company Profile
Brady Corp. engages in the manufacture and market of specialty materials and identification solutions that determines and protects premises, products, and people. The firm operates through the Identification Solutions (IDS) and Workplace Safety (WPS) segments. The IDS segment offers industrial and healthcare identification products.
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