Brady Corporation (BRC) Shares Bought by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. raised its stake in shares of Brady Corporation (NYSE:BRC) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 321,156 shares of the industrial products company’s stock after buying an additional 13,013 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.63% of Brady Corporation worth $10,888,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new position in Brady Corporation during the 1st quarter valued at about $153,000. Brighton Jones LLC acquired a new position in shares of Brady Corporation in the 1st quarter worth approximately $232,000. Suntrust Banks Inc. grew its stake in shares of Brady Corporation by 1.6% in the 1st quarter. Suntrust Banks Inc. now owns 7,933 shares of the industrial products company’s stock worth $306,000 after purchasing an additional 128 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Brady Corporation in the 2nd quarter worth approximately $298,000. Finally, State of Alaska Department of Revenue grew its stake in shares of Brady Corporation by 79.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 9,428 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 4,168 shares during the last quarter. 75.99% of the stock is currently owned by hedge funds and other institutional investors.
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Several equities analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Brady Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Robert W. Baird set a $36.00 price objective on shares of Brady Corporation and gave the stock a “hold” rating in a research note on Thursday, August 24th. BidaskClub cut shares of Brady Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Finally, Bank of America Corporation lifted their price objective on shares of Brady Corporation from $33.00 to $34.00 and gave the stock an “underperform” rating in a research note on Friday, September 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.25.
In other Brady Corporation news, Director Elizabeth P. Bruno sold 24,000 shares of the business’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $36.75, for a total transaction of $882,000.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.60% of the company’s stock.
Brady Corporation (NYSE:BRC) opened at 37.95 on Friday. The firm has a market cap of $1.95 billion, a PE ratio of 20.79 and a beta of 1.11. Brady Corporation has a 52 week low of $31.70 and a 52 week high of $40.50. The stock has a 50 day moving average of $33.67 and a 200 day moving average of $36.00.
Brady Corporation (NYSE:BRC) last announced its quarterly earnings data on Thursday, September 7th. The industrial products company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The firm had revenue of $289.20 million during the quarter, compared to analysts’ expectations of $280.47 million. Brady Corporation had a return on equity of 13.93% and a net margin of 8.59%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 EPS. Analysts anticipate that Brady Corporation will post $1.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 10th will be issued a dividend of $0.83 per share. This is a boost from Brady Corporation’s previous quarterly dividend of $0.21. This represents a $3.32 annualized dividend and a yield of 8.75%. The ex-dividend date is Friday, October 6th. Brady Corporation’s payout ratio is currently 44.57%.
Brady Corporation 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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