ProShare Advisors LLC acquired a new position in Brady Corporation (NYSE:BRC – Free Report) during the third quarter, HoldingsChannel reports. The firm acquired 105,861 shares of the industrial products company’s stock, valued at approximately $8,838,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. First Trust Advisors LP increased its position in Brady by 2.9% during the 1st quarter. First Trust Advisors LP now owns 1,668,027 shares of the industrial products company’s stock worth $135,511,000 after purchasing an additional 47,096 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Brady by 2.2% in the first quarter. Principal Financial Group Inc. now owns 210,232 shares of the industrial products company’s stock worth $17,079,000 after acquiring an additional 4,518 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Brady by 13.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 153,162 shares of the industrial products company’s stock valued at $12,787,000 after acquiring an additional 17,989 shares during the period. Vest Financial LLC raised its stake in shares of Brady by 1.9% in the 3rd quarter. Vest Financial LLC now owns 88,830 shares of the industrial products company’s stock valued at $7,416,000 after acquiring an additional 1,620 shares during the period. Finally, Swiss National Bank raised its stake in shares of Brady by 0.5% in the 1st quarter. Swiss National Bank now owns 86,300 shares of the industrial products company’s stock valued at $7,011,000 after acquiring an additional 400 shares during the period. 76.28% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently weighed in on BRC shares. Wall Street Zen upgraded shares of Brady from a “hold” rating to a “buy” rating in a report on Sunday, October 4th. Weiss Ratings downgraded Brady from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 23rd. Two analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $103.00.
Check Out Our Latest Research Report on Brady
Brady Stock Performance
Brady stock opened at $82.20 on Wednesday. The stock’s 50 day moving average price is $85.50 and its 200 day moving average price is $87.00. The firm has a market capitalization of $3.86 billion, a PE ratio of 19.07 and a beta of 0.62. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.30 and a current ratio of 1.94. Brady Corporation has a one year low of $70.57 and a one year high of $99.29.
Brady (NYSE:BRC – Get Free Report) last issued its quarterly earnings data on Thursday, September 3rd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.01. Brady had a net margin of 12.36% and a return on equity of 19.21%. The company had revenue of $436.90 million during the quarter, compared to the consensus estimate of $427.91 million. During the same quarter last year, the company earned $1.04 earnings per share. Brady’s revenue for the quarter was up 10.0% on a year-over-year basis. Brady has set its FY 2027 guidance at 6.250-6.750 EPS. As a group, sell-side analysts expect that Brady Corporation will post 6.50 EPS for the current fiscal year.
Brady Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Friday, October 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. This is a boost from Brady’s previous quarterly dividend of $0.2450. The ex-dividend date was Friday, October 9th. Brady’s payout ratio is currently 23.20%.
Insider Buying and Selling at Brady
In related news, COO Thomas DeBruine sold 5,739 shares of the firm’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $84.00, for a total transaction of $482,076.00. Following the completion of the sale, the chief operating officer directly owned 7,523 shares of the company’s stock, valued at approximately $631,932. This trade represents a 43.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.60% of the company’s stock.
Brady Company Profile
Brady Corporation (NYSE:BRC) is a global manufacturer of identification and workplace safety solutions. Founded in 1914 as W.H. Brady Co in Milwaukee, Wisconsin, the company develops products that help organizations identify equipment, manage facilities, improve workplace safety and comply with operational requirements.
Its products include industrial and facility identification labels, signs, tags, safety and lockout products, wire and cable markers, barcode and RFID solutions, printers, software and specialty materials.
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