Olstein Capital Management L.P. Sells 3,000 Shares of Brady Co. (NYSE:BRC)

Olstein Capital Management L.P. lowered its stake in shares of Brady Co. (NYSE:BRC) by 16.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,000 shares of the industrial products company’s stock after selling 3,000 shares during the quarter. Olstein Capital Management L.P.’s holdings in Brady were worth $1,060,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its position in shares of Brady by 213.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 461 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 314 shares in the last quarter. Principal Securities Inc. lifted its holdings in Brady by 378.1% during the 4th quarter. Principal Securities Inc. now owns 655 shares of the industrial products company’s stock worth $48,000 after buying an additional 518 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Brady by 19.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 893 shares of the industrial products company’s stock worth $66,000 after buying an additional 143 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in Brady in the 4th quarter valued at $96,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Brady in the 4th quarter valued at $156,000. Institutional investors own 76.28% of the company’s stock.

Brady Trading Up 0.5%

BRC opened at $69.92 on Monday. The firm’s fifty day simple moving average is $69.77 and its 200 day simple moving average is $72.13. Brady Co. has a 12 month low of $62.70 and a 12 month high of $77.68. The stock has a market capitalization of $3.31 billion, a P/E ratio of 17.18 and a beta of 0.80. The company has a current ratio of 1.84, a quick ratio of 1.25 and a debt-to-equity ratio of 0.11.

Brady (NYSE:BRC) last announced its earnings results on Friday, May 16th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.22. The business had revenue of $382.59 million for the quarter, compared to analyst estimates of $386.61 million. Brady had a return on equity of 19.79% and a net margin of 14.19%. Brady’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 EPS. As a group, research analysts anticipate that Brady Co. will post 4.55 EPS for the current fiscal year.

Brady Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, July 10th. This represents a $0.96 annualized dividend and a yield of 1.37%. Brady’s dividend payout ratio (DPR) is presently 23.76%.

Wall Street Analyst Weigh In

BRC has been the subject of a number of recent analyst reports. Sidoti upgraded Brady to a “strong-buy” rating in a report on Monday, May 19th. Wall Street Zen lowered Brady from a “buy” rating to a “hold” rating in a research report on Friday.

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 company offers materials, printing systems, RFID, and bar code scanners for product identification, brand protection labeling, work in process labeling, finished product identification, and industrial track and trace applications; safety signs, floor-marking tapes, pipe markers, labeling systems, spill control products, lockout/tagout device, and software and services for safety compliance auditing, procedure writing, and training; and hand-held printers, wire markers, sleeves, and tags for wire identification.