Brady Corp (BRC) Stake Increased by Natixis Advisors L.P.
Natixis Advisors L.P. lifted its holdings in Brady Corp (NYSE:BRC) by 46.8% in the fourth quarter, HoldingsChannel reports. The firm owned 93,309 shares of the industrial products company’s stock after buying an additional 29,754 shares during the period. Natixis Advisors L.P.’s holdings in Brady were worth $4,054,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of BRC. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Brady in the 3rd quarter worth $30,874,000. Man Group plc acquired a new stake in shares of Brady in the 3rd quarter worth $18,453,000. Renaissance Technologies LLC boosted its position in shares of Brady by 14.0% in the 3rd quarter. Renaissance Technologies LLC now owns 2,221,698 shares of the industrial products company’s stock worth $97,199,000 after purchasing an additional 273,098 shares in the last quarter. BlackRock Inc. boosted its position in shares of Brady by 3.0% in the 4th quarter. BlackRock Inc. now owns 7,074,270 shares of the industrial products company’s stock worth $307,446,000 after purchasing an additional 208,942 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Brady by 21.9% in the 3rd quarter. Morgan Stanley now owns 787,710 shares of the industrial products company’s stock worth $34,462,000 after purchasing an additional 141,757 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on BRC. Zacks Investment Research cut Brady from a “buy” rating to a “hold” rating in a research report on Tuesday, November 27th. Northcoast Research reissued a “buy” rating on shares of Brady in a research report on Wednesday, February 13th. Finally, SunTrust Banks reissued a “hold” rating and issued a $43.00 price objective on shares of Brady in a research report on Monday, November 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Brady presently has a consensus rating of “Hold” and a consensus target price of $46.00.
Brady (NYSE:BRC) last issued its earnings results on Thursday, February 21st. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. The company had revenue of $282.40 million during the quarter, compared to analyst estimates of $285.50 million. Brady had a return on equity of 15.17% and a net margin of 10.31%. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the business posted $0.48 EPS. Analysts forecast that Brady Corp will post 2.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 9th will be paid a $0.2125 dividend. The ex-dividend date is Monday, April 8th. This represents a $0.85 dividend on an annualized basis and a yield of 1.84%. Brady’s dividend payout ratio (DPR) is 41.67%.
In related news, VP Thomas J. Felmer sold 31,667 shares of the firm’s stock in a transaction on Friday, January 18th. The stock was sold at an average price of $46.00, for a total value of $1,456,682.00. Following the completion of the transaction, the vice president now owns 72,040 shares in the company, valued at approximately $3,313,840. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank W. Harris sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $48.04, for a total value of $96,080.00. Following the completion of the transaction, the director now owns 27,379 shares of the company’s stock, valued at approximately $1,315,287.16. The disclosure for this sale can be found here. Insiders sold a total of 112,287 shares of company stock valued at $5,283,808 in the last 90 days. 15.60% of the stock is currently owned by company insiders.
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Brady Corporation manufactures and supplies identification solutions (IDS) and workplace safety (WPS) products to identify and protect premises, products, and people in the United States and internationally. The IDS segment offers safety signs, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials and printing systems for product identification, brand protection labeling, work in process labeling, and finished product identification; and hand-held printers, wire markers, sleeves, and tags for wire identification, as well as software and services for safety compliance auditing, procedure writing, and training.
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