WINTON GROUP Ltd acquired a new stake in shares of Brady Corporation (NYSE:BRC – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund acquired 7,000 shares of the industrial products company’s stock, valued at approximately $641,000.
A number of other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. grew its position in shares of Brady by 267.8% in the 4th quarter. Franklin Resources Inc. now owns 1,188,189 shares of the industrial products company’s stock worth $93,118,000 after buying an additional 865,131 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Brady by 502,257.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 452,122 shares of the industrial products company’s stock valued at $35,433,000 after acquiring an additional 452,032 shares during the period. Royce & Associates LP boosted its stake in Brady by 9.8% during the fourth quarter. Royce & Associates LP now owns 740,635 shares of the industrial products company’s stock worth $58,044,000 after acquiring an additional 66,387 shares in the last quarter. Sei Investments Co. boosted its stake in Brady by 754.2% during the first quarter. Sei Investments Co. now owns 61,870 shares of the industrial products company’s stock worth $5,026,000 after acquiring an additional 54,627 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Brady in the first quarter worth about $4,135,000. 76.28% of the stock is currently owned by hedge funds and other institutional investors.
Brady Stock Down 0.6%
Brady stock opened at $86.41 on Tuesday. Brady Corporation has a 12 month low of $70.57 and a 12 month high of $99.29. The stock has a fifty day simple moving average of $92.76 and a two-hundred day simple moving average of $87.37. The company has a current ratio of 1.94, a quick ratio of 1.30 and a debt-to-equity ratio of 0.01. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 20.05 and a beta of 0.61.
Brady Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 9th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, October 9th. This represents a $1.00 annualized dividend and a yield of 1.2%. This is an increase from Brady’s previous quarterly dividend of $0.24. Brady’s dividend payout ratio (DPR) is currently 22.74%.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on BRC. Weiss Ratings raised shares of Brady from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, August 31st. Wall Street Zen raised Brady from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, Sidoti raised Brady from a “neutral” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Brady presently has a consensus rating of “Buy” and a consensus target price of $103.00.
Brady Profile
Brady Corporation (NYSE: BRC) develops and manufactures identification, workplace safety and facility-marking products for industrial, commercial, healthcare and government customers. Its offerings include safety signs and labels, pipe and valve markers, asset and equipment identification, wire and cable markers, barcode and RFID products, and specialized identification materials designed for demanding environments.
The company also provides printers, software and related systems used to create and manage labels, signs and other identification products.
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