VIRGINIA RETIREMENT SYSTEMS ET Al Invests $3.26 Million in Brady Corporation $BRC

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Brady Corporation (NYSE:BRC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 35,586 shares of the industrial products company’s stock, valued at approximately $3,259,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.08% of Brady at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Royal Bank of Canada grew its stake in shares of Brady by 380.3% during the 1st quarter. Royal Bank of Canada now owns 6,451 shares of the industrial products company’s stock valued at $456,000 after acquiring an additional 5,108 shares during the period. Millennium Management LLC boosted its holdings in Brady by 1,256.9% in the 1st quarter. Millennium Management LLC now owns 185,182 shares of the industrial products company’s stock worth $13,081,000 after buying an additional 171,535 shares during the period. NewEdge Advisors LLC increased its stake in Brady by 282.3% in the 1st quarter. NewEdge Advisors LLC now owns 1,644 shares of the industrial products company’s stock worth $116,000 after buying an additional 1,214 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Brady by 7.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 126,953 shares of the industrial products company’s stock valued at $8,968,000 after acquiring an additional 8,716 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Brady by 89.0% during the second quarter. EverSource Wealth Advisors LLC now owns 684 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 322 shares during the period. 76.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BRC. Weiss Ratings upgraded Brady from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, August 31st. Wall Street Zen upgraded Brady from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Finally, Sidoti raised shares of Brady from a “neutral” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Brady has a consensus rating of “Buy” and an average price target of $103.00.

Brady Trading Down 1.3%

Shares of Brady stock opened at $87.44 on Thursday. Brady Corporation has a twelve month low of $70.57 and a twelve month high of $99.29. 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 business has a 50-day moving average price of $93.10 and a 200-day moving average price of $87.47. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 20.29 and a beta of 0.61.

Brady (NYSE:BRC) last posted its earnings results on Thursday, September 3rd. The industrial products company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.01. Brady had a return on equity of 19.21% and a net margin of 12.36%.The company had revenue of $436.90 million for the quarter, compared to the consensus estimate of $427.91 million. During the same period in the previous year, the business earned $1.04 earnings per share. The firm’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. Equities research analysts anticipate that Brady Corporation will post 6.5 EPS for the current fiscal year.

Brady Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 9th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, October 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Brady’s previous quarterly dividend of $0.24. Brady’s dividend payout ratio is currently 22.74%.

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.