State of Alaska Department of Revenue reduced its holdings in shares of Brady Corporation (NYSE:BRC – Free Report) by 46.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,073 shares of the industrial products company’s stock after selling 7,908 shares during the quarter. State of Alaska Department of Revenue’s holdings in Brady were worth $757,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Nykredit A S bought a new position in Brady in the 2nd quarter valued at about $34,000. Leonteq Securities AG acquired a new position in Brady during the 1st quarter valued at about $40,000. Integrated Wealth Concepts LLC acquired a new position in Brady during the 2nd quarter valued at about $47,000. Parkside Financial Bank & Trust increased its holdings in Brady by 3,072.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 571 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 553 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Brady by 25.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,249 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 251 shares in the last quarter. 76.28% of the stock is owned by institutional investors.
Insider Transactions at Brady
In other news, COO Thomas DeBruine sold 5,739 shares of Brady stock in a transaction on Friday, September 18th. The stock was sold at an average price of $84.00, for a total transaction of $482,076.00. Following the sale, the chief operating officer directly owned 7,523 shares in the company, valued at $631,932. The trade was a 43.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 15.60% of the stock is owned by company insiders.
Brady Price Performance
Brady stock opened at $82.69 on Friday. Brady Corporation has a 52 week low of $70.57 and a 52 week high of $99.29. The company’s 50 day moving average price is $87.11 and its two-hundred day moving average price is $87.03. The company has a quick ratio of 1.30, a current ratio of 1.94 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.88 billion, a P/E ratio of 19.19 and a beta of 0.61.
Brady (NYSE:BRC – Get Free Report) last released its earnings results 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. The company had revenue of $436.90 million during the quarter, compared to analyst estimates of $427.91 million. Brady had a return on equity of 19.21% and a net margin of 12.36%. Brady’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.04 earnings per share. Brady has set its FY 2027 guidance at 6.250-6.750 EPS. On average, equities analysts predict that Brady Corporation will post 6.50 earnings per share for the current year.
Brady Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 9th will be paid a $0.25 dividend. This is a boost from Brady’s previous quarterly dividend of $0.2450. The ex-dividend date is Friday, October 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Brady’s dividend payout ratio is currently 23.20%.
Analyst Upgrades and Downgrades
BRC has been the topic of a number of recent research reports. Weiss Ratings upgraded Brady from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Wall Street Zen upgraded Brady from a “hold” rating to a “buy” rating in a report on Sunday, October 4th. Two research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $103.00.
Check Out Our Latest Stock Analysis on BRC
Brady 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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