Alps Advisors Inc. Acquires Shares of 12,924 Brady Corporation (BRC)
Alps Advisors Inc. acquired a new position in Brady Corporation (NYSE:BRC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,924 shares of the industrial products company’s stock, valued at approximately $490,000.
Several other large investors have also recently made changes to their positions in the company. American Century Companies Inc. raised its position in Brady Corporation by 1.5% during the third quarter. American Century Companies Inc. now owns 160,826 shares of the industrial products company’s stock valued at $6,103,000 after acquiring an additional 2,352 shares in the last quarter. Nine Chapters Capital Management LLC purchased a new stake in shares of Brady Corporation in the third quarter valued at approximately $478,000. Parametrica Management Ltd purchased a new stake in shares of Brady Corporation in the third quarter valued at approximately $426,000. Victory Capital Management Inc. increased its position in shares of Brady Corporation by 38.5% in the third quarter. Victory Capital Management Inc. now owns 25,952 shares of the industrial products company’s stock valued at $985,000 after buying an additional 7,213 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Brady Corporation in the third quarter valued at approximately $349,000. Hedge funds and other institutional investors own 75.23% of the company’s stock.
A number of brokerages have recently issued reports on BRC. Zacks Investment Research raised Brady Corporation from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Wednesday, November 8th. Bank of America Corporation lifted their price target on Brady Corporation from $34.00 to $35.00 and gave the stock an “underperform” rating in a research note on Friday. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $39.00 price target on shares of Brady Corporation in a research note on Friday. Finally, Robert W. Baird set a $36.00 price target on Brady Corporation and gave the stock a “hold” rating in a research note on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Brady Corporation currently has a consensus rating of “Hold” and a consensus price target of $39.20.
Brady Corporation (BRC) opened at $38.75 on Friday. The firm has a market capitalization of $1,991.05, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 2.69 and a beta of 1.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.61 and a current ratio of 2.19. Brady Corporation has a 12 month low of $31.70 and a 12 month high of $40.50.
Brady Corporation (NYSE:BRC) last released its quarterly earnings data on Thursday, November 16th. The industrial products company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. The company had revenue of $290.15 million for the quarter, compared to analyst estimates of $286.75 million. Brady Corporation had a return on equity of 13.90% and a net margin of 8.81%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. equities analysts forecast that Brady Corporation will post 1.93 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Tuesday, January 9th. Brady Corporation’s dividend payout ratio (DPR) is currently 43.92%.
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In other Brady Corporation news, Director Elizabeth P. Bruno sold 24,000 shares of the business’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $36.75, for a total transaction of $882,000.00. Following the transaction, the director now owns 371,509 shares of the company’s stock, valued at $13,652,955.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.60% of the company’s stock.
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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