Credit Suisse AG Reduces Stake in Brady Corporation (NYSE:BRC)
Credit Suisse AG cut its position in Brady Corporation (NYSE:BRC) by 19.6% during the first quarter, Holdings Channel reports. The fund owned 45,198 shares of the industrial products company’s stock after selling 10,985 shares during the period. Credit Suisse AG’s holdings in Brady Corporation were worth $1,747,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new position in Brady Corporation during the first quarter worth about $153,000. State of Alaska Department of Revenue increased its position in Brady Corporation by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 5,260 shares of the industrial products company’s stock worth $203,000 after buying an additional 120 shares during the last quarter. Oarsman Capital Inc. acquired a new position in Brady Corporation during the first quarter worth about $264,000. Suntrust Banks Inc. increased its position in Brady Corporation by 1.6% in the first quarter. Suntrust Banks Inc. now owns 7,933 shares of the industrial products company’s stock worth $306,000 after buying an additional 128 shares during the last quarter. Finally, Advisors Asset Management Inc. acquired a new position in Brady Corporation during the first quarter worth about $322,000. 75.61% of the stock is currently owned by institutional investors.
Shares of Brady Corporation (NYSE:BRC) traded down 0.78% during trading on Friday, reaching $31.95. 192,437 shares of the company’s stock traded hands. The company has a 50 day moving average price of $33.43 and a 200-day moving average price of $36.68. Brady Corporation has a one year low of $31.78 and a one year high of $40.50. The stock has a market cap of $1.64 billion, a P/E ratio of 17.27 and a beta of 1.12.
Brady Corporation (NYSE:BRC) last announced its earnings results on Thursday, May 25th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. Brady Corporation had a return on equity of 14.44% and a net margin of 8.64%. The firm had revenue of $275.90 million for the quarter, compared to analyst estimates of $279.39 million. During the same quarter last year, the firm posted $0.42 EPS. The business’s revenue was down 3.8% on a year-over-year basis. On average, equities research analysts expect that Brady Corporation will post $1.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Monday, July 10th were given a dividend of $0.205 per share. The ex-dividend date was Thursday, July 6th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.57%. Brady Corporation’s dividend payout ratio (DPR) is 44.32%.
Several brokerages have weighed in on BRC. Zacks Investment Research downgraded shares of Brady Corporation from a “buy” rating to a “hold” rating in a report on Monday, May 29th. BidaskClub downgraded shares of Brady Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $38.75.
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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