Rhumbline Advisers Buys 2,300 Shares of Brady Corporation (BRC)
Rhumbline Advisers lifted its stake in shares of Brady Corporation (NYSE:BRC) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,099 shares of the industrial products company’s stock after purchasing an additional 2,300 shares during the quarter. Rhumbline Advisers owned about 0.19% of Brady worth $3,685,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of BRC. Riverhead Capital Management LLC grew its holdings in Brady by 62.9% during the second quarter. Riverhead Capital Management LLC now owns 3,095 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 1,195 shares during the period. SG Americas Securities LLC acquired a new position in Brady during the second quarter worth about $118,000. Amalgamated Bank grew its holdings in Brady by 5.0% during the second quarter. Amalgamated Bank now owns 6,403 shares of the industrial products company’s stock worth $217,000 after acquiring an additional 305 shares during the period. Brighton Jones LLC grew its holdings in Brady by 17.9% during the second quarter. Brighton Jones LLC now owns 7,085 shares of the industrial products company’s stock worth $240,000 after acquiring an additional 1,075 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in Brady by 54.8% during the second quarter. Cubist Systematic Strategies LLC now owns 7,316 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 2,591 shares during the period. Institutional investors and hedge funds own 76.88% of the company’s stock.
BRC has been the topic of a number of analyst reports. Zacks Investment Research cut Brady from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Robert W. Baird set a $36.00 price target on Brady and gave the stock a “hold” rating in a research note on Thursday, August 24th. SunTrust Banks reissued a “hold” rating and issued a $38.00 price target on shares of Brady in a research note on Friday, October 27th. Finally, Bank of America lifted their price target on Brady from $33.00 to $34.00 and gave the stock an “underperform” rating in a research note on Friday, September 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $39.60.
Shares of Brady Corporation (BRC) opened at $38.70 on Thursday. The stock has a market capitalization of $2,005.61, a PE ratio of 21.61, a PEG ratio of 2.69 and a beta of 1.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.62 and a current ratio of 2.19. Brady Corporation has a 1-year low of $31.70 and a 1-year high of $40.50.
Brady (NYSE:BRC) last announced its quarterly earnings results on Thursday, November 16th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The business had revenue of $290.15 million during the quarter, compared to analyst estimates of $286.75 million. Brady had a return on equity of 13.90% and a net margin of 8.81%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 EPS. sell-side analysts anticipate that Brady Corporation will post 1.93 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th will be issued a dividend of $0.2075 per share. The ex-dividend date is Tuesday, January 9th. This represents a $0.83 annualized dividend and a dividend yield of 2.14%. Brady’s dividend payout ratio is 43.92%.
In other Brady news, Director Elizabeth P. Bruno sold 24,000 shares of Brady stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $36.75, for a total value of $882,000.00. Following the transaction, the director now directly owns 371,509 shares of the company’s stock, valued at approximately $13,652,955.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bradley C. Richardson sold 1,400 shares of Brady stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $39.15, for a total value of $54,810.00. Following the completion of the transaction, the director now directly owns 2,511 shares in the company, valued at $98,305.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,380 shares of company stock valued at $1,484,060. 15.60% of the stock is owned by corporate insiders.
Brady Company Profile
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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