Public Employees Retirement System of Ohio Lowers Position in Brady Corporation (NYSE:BRC)
Public Employees Retirement System of Ohio reduced its stake in shares of Brady Corporation (NYSE:BRC) by 10.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 3,546 shares of the industrial products company’s stock after selling 414 shares during the period. Public Employees Retirement System of Ohio’s holdings in Brady Corporation were worth $137,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in BRC. Brighton Jones LLC purchased a new stake in Brady Corporation during the first quarter valued at approximately $232,000. Tudor Investment Corp ET AL boosted its stake in Brady Corporation by 28.1% in the first quarter. Tudor Investment Corp ET AL now owns 13,687 shares of the industrial products company’s stock valued at $529,000 after buying an additional 3,005 shares during the last quarter. State Street Corp boosted its stake in Brady Corporation by 7.0% in the first quarter. State Street Corp now owns 1,121,048 shares of the industrial products company’s stock valued at $43,327,000 after buying an additional 73,113 shares during the last quarter. Bank of America Corp DE boosted its stake in Brady Corporation by 83.6% in the first quarter. Bank of America Corp DE now owns 82,554 shares of the industrial products company’s stock valued at $3,191,000 after buying an additional 37,589 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Brady Corporation by 6.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 308,143 shares of the industrial products company’s stock valued at $11,910,000 after buying an additional 19,746 shares during the last quarter. Hedge funds and other institutional investors own 75.61% of the company’s stock.
Shares of Brady Corporation (BRC) traded down 0.78% during midday trading on Friday, hitting $31.95. The stock had a trading volume of 192,437 shares. The firm has a market cap of $1.64 billion, a P/E ratio of 17.27 and a beta of 1.12. Brady Corporation has a 52 week low of $31.78 and a 52 week high of $40.50. The company’s 50 day moving average is $33.43 and its 200 day moving average is $36.68.
Brady Corporation (NYSE:BRC) last announced its quarterly earnings data on Thursday, May 25th. The industrial products company reported $0.43 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.43. Brady Corporation had a return on equity of 14.44% and a net margin of 8.64%. The firm had revenue of $275.90 million during the quarter, compared to analysts’ expectations of $279.39 million. During the same quarter last year, the firm posted $0.42 earnings per share. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, equities analysts predict that Brady Corporation will post $1.81 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Monday, July 10th were issued a $0.205 dividend. The ex-dividend date was Thursday, July 6th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.57%. Brady Corporation’s dividend payout ratio is presently 44.32%.
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Several equities research analysts have commented on the company. Zacks Investment Research cut Brady Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. BidaskClub cut Brady Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $38.75.
About Brady Corporation
Brady Corporation is a manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people. The Company has two segments: Identification Solutions (IDS) and Workplace Safety (WPS). The IDS segment includes identification and healthcare products, and the WPS segment includes workplace safety and compliance products.
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