Icon Advisers Inc. Co. lifted its holdings in shares of Brady Corporation (NYSE:BRC – Free Report) by 37.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 33,000 shares of the industrial products company’s stock after purchasing an additional 9,000 shares during the period. Icon Advisers Inc. Co.’s holdings in Brady were worth $2,681,000 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. Flagship Harbor Advisors LLC bought a new position in shares of Brady in the fourth quarter valued at about $25,000. Richardson Financial Services Inc. grew its holdings in Brady by 72.1% during the 4th quarter. Richardson Financial Services Inc. now owns 389 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 163 shares during the last quarter. Advisory Services Network LLC bought a new stake in Brady during the 3rd quarter worth about $31,000. Global Retirement Partners LLC raised its stake in shares of Brady by 42.4% in the fourth quarter. Global Retirement Partners LLC now owns 450 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 134 shares during the last quarter. Finally, Leonteq Securities AG acquired a new position in shares of Brady during the first quarter worth approximately $40,000. 76.28% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Brady from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Sidoti upgraded Brady from a “neutral” rating to a “buy” rating and set a $103.00 price objective on the stock in a research report on Tuesday, June 9th. Finally, Weiss Ratings cut Brady from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $103.00.
Insiders Place Their Bets
In other news, CEO Vineet A. Nargolwala acquired 13,011 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was purchased at an average price of $76.86 per share, for a total transaction of $1,000,025.46. Following the completion of the acquisition, the chief executive officer owned 52,709 shares in the company, valued at $4,051,213.74. This trade represents a 32.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 15.60% of the stock is owned by insiders.
Brady Stock Down 0.4%
Shares of Brady stock opened at $93.47 on Thursday. The business has a fifty day simple moving average of $86.98 and a 200 day simple moving average of $85.91. The stock has a market cap of $4.40 billion, a PE ratio of 21.29 and a beta of 0.61. The company has a quick ratio of 1.36, a current ratio of 2.01 and a debt-to-equity ratio of 0.02. Brady Corporation has a 12 month low of $68.24 and a 12 month high of $99.29.
Brady (NYSE:BRC – Get Free Report) last released its earnings results on Monday, May 18th. The industrial products company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.15. Brady had a return on equity of 19.01% and a net margin of 12.93%.The firm had revenue of $435.24 million for the quarter, compared to analyst estimates of $406.07 million. During the same quarter in the prior year, the firm posted $1.22 earnings per share. The company’s quarterly revenue was up 13.7% on a year-over-year basis. Brady has set its FY 2026 guidance at 5.200-5.300 EPS. Research analysts predict that Brady Corporation will post 5.25 EPS for the current year.
Brady Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be paid a dividend of $0.245 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $0.98 annualized dividend and a yield of 1.0%. Brady’s dividend payout ratio (DPR) is presently 22.32%.
Brady Company Profile
Brady Corporation is a global provider of identification and safety solutions, specializing in the design, manufacture and sale of products that help businesses improve safety, security and efficiency. The company offers an array of durable labels, signs, safety devices, printing systems and software platforms tailored to a wide range of industrial and commercial environments.
Founded in 1914 by William H. Brady, Brady Corporation has grown from a regional marker manufacturer into a diversified global enterprise.
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