State Street Corp Purchases 45,803 Shares of Brady Corporation (BRC)
State Street Corp lifted its position in shares of Brady Corporation (NYSE:BRC) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,166,851 shares of the industrial products company’s stock after acquiring an additional 45,803 shares during the quarter. State Street Corp owned approximately 2.27% of Brady Corporation worth $39,553,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Eaton Vance Management raised its position in shares of Brady Corporation by 0.3% during the second quarter. Eaton Vance Management now owns 11,521 shares of the industrial products company’s stock worth $391,000 after acquiring an additional 32 shares during the last quarter. Arizona State Retirement System raised its position in shares of Brady Corporation by 0.4% during the second quarter. Arizona State Retirement System now owns 24,915 shares of the industrial products company’s stock worth $845,000 after acquiring an additional 100 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Brady Corporation by 0.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 43,814 shares of the industrial products company’s stock worth $1,485,000 after acquiring an additional 138 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Brady Corporation by 1.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 13,640 shares of the industrial products company’s stock worth $462,000 after acquiring an additional 240 shares during the last quarter. Finally, Amalgamated Bank raised its position in shares of Brady Corporation by 5.0% during the second quarter. Amalgamated Bank now owns 6,403 shares of the industrial products company’s stock worth $217,000 after acquiring an additional 305 shares during the last quarter. Institutional investors own 75.68% of the company’s stock.
BRC has been the subject of a number of recent research reports. Bank of America Corporation boosted their target price on Brady Corporation from $33.00 to $34.00 and gave the stock an “underperform” rating in a research report on Friday, September 8th. Robert W. Baird restated a “hold” rating and set a $36.00 target price on shares of Brady Corporation in a research report on Friday, October 13th. Zacks Investment Research downgraded Brady Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, SunTrust Banks, Inc. restated a “hold” rating and set a $38.00 target price on shares of Brady Corporation in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $39.20.
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 value of $882,000.00. Following the completion of the transaction, the director now directly owns 371,509 shares of the company’s stock, valued at $13,652,955.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 15.60% of the stock is currently owned by insiders.
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Shares of Brady Corporation (NYSE:BRC) opened at $36.85 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.61 and a current ratio of 2.18. Brady Corporation has a 52 week low of $31.70 and a 52 week high of $40.50. The company has a market capitalization of $1,916.55, a price-to-earnings ratio of 21.31, a P/E/G ratio of 2.59 and a beta of 1.18.
Brady Corporation (NYSE:BRC) last announced its quarterly earnings data on Thursday, September 7th. The industrial products company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Brady Corporation had a return on equity of 13.93% and a net margin of 8.59%. The business had revenue of $289.20 million during the quarter, compared to analysts’ expectations of $280.47 million. During the same period in the previous year, the firm earned $0.49 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. analysts anticipate that Brady Corporation will post 1.92 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 10th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 9.01%. This is a boost from Brady Corporation’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, October 6th. Brady Corporation’s payout ratio is presently 45.11%.
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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