Brady Corporation $BRC Shares Sold by Royce & Associates LP

Royce & Associates LP trimmed its holdings in shares of Brady Corporation (NYSE:BRC) by 18.0% during the 3rd quarter, Holdings Channel reports. The fund owned 383,514 shares of the industrial products company’s stock after selling 84,110 shares during the period. Royce & Associates LP’s holdings in Brady were worth $32,020,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nykredit A S acquired a new position in shares of Brady during the second quarter worth $34,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Brady during the 2nd quarter valued at $47,000. Parkside Financial Bank & Trust boosted its position in shares of Brady by 3,072.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 571 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 553 shares in the last quarter. Signaturefd LLC boosted its position in shares of Brady by 133.7% in the 3rd quarter. Signaturefd LLC now owns 652 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 373 shares in the last quarter. Finally, Brown Lisle Cummings Inc. grew its stake in Brady by 2,205.9% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 784 shares of the industrial products company’s stock worth $65,000 after buying an additional 750 shares during the last quarter. 76.28% of the stock is currently owned by institutional investors.

Brady Stock Performance

NYSE:BRC traded up $0.13 during trading hours on Friday, hitting $82.75. 432,712 shares of the company were exchanged, compared to its average volume of 277,303. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 19.20 and a beta of 0.62. Brady Corporation has a 52-week low of $70.57 and a 52-week high of $99.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.94 and a quick ratio of 1.30. The company’s 50 day moving average price is $83.76 and its 200-day moving average price is $86.86.

Brady (NYSE:BRC) last posted its quarterly earnings results on Thursday, September 3rd. The industrial products company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.47 by $0.01. Brady had a net margin of 12.36% and a return on equity of 19.21%. The company had revenue of $436.90 million for the quarter, compared to analyst estimates of $427.91 million. During the same period in the prior year, the company earned $1.04 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. Brady has set its FY 2027 guidance at 6.250-6.750 EPS. As a group, research analysts forecast that Brady Corporation will post 6.50 earnings per share for the current year.

Brady Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Friday, October 9th were issued a $0.25 dividend. This is a boost from Brady’s previous quarterly dividend of $0.2450. The ex-dividend date of this dividend was Friday, October 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Brady’s payout ratio is presently 23.20%.

Insider Activity

In other news, COO Thomas DeBruine sold 5,739 shares of the business’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $84.00, for a total value of $482,076.00. Following the completion of the transaction, the chief operating officer owned 7,523 shares of the company’s stock, valued at $631,932. The trade was a 43.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 15.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Weiss Ratings lowered Brady from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Wall Street Zen upgraded Brady from a “hold” rating to a “buy” rating in a research note on Sunday, October 4th. Two equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $103.00.

About Brady

Brady Corporation develops and manufactures identification and workplace safety products for businesses and organizations. Its offerings include labels, signs, safety devices, identification materials, and printing systems used to identify products, equipment, facilities, and people. The company also provides software and related solutions for creating and managing identification materials, as well as products for applications such as wire and cable marking, asset tracking, and workplace safety.