Robeco Institutional Asset Management B.V. cut its holdings in Brady Corp (NYSE:BRC) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 530,766 shares of the industrial products company’s stock after selling 8,771 shares during the period. Robeco Institutional Asset Management B.V. owned about 1.00% of Brady worth $26,176,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of BRC. Norges Bank acquired a new stake in Brady in the fourth quarter valued at $43,189,000. Vaughan Nelson Investment Management L.P. raised its stake in Brady by 10.6% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,373,925 shares of the industrial products company’s stock valued at $63,765,000 after buying an additional 131,300 shares in the last quarter. BlackRock Inc. raised its stake in Brady by 1.4% in the first quarter. BlackRock Inc. now owns 7,172,224 shares of the industrial products company’s stock valued at $332,862,000 after buying an additional 97,954 shares in the last quarter. Acadian Asset Management LLC raised its stake in Brady by 46.2% in the first quarter. Acadian Asset Management LLC now owns 295,689 shares of the industrial products company’s stock valued at $13,723,000 after buying an additional 93,428 shares in the last quarter. Finally, TD Asset Management Inc. raised its stake in Brady by 48.3% in the first quarter. TD Asset Management Inc. now owns 280,908 shares of the industrial products company’s stock valued at $13,037,000 after buying an additional 91,530 shares in the last quarter. Institutional investors own 80.62% of the company’s stock.
Shares of NYSE BRC traded down $0.63 during midday trading on Friday, reaching $50.68. 365,979 shares of the company were exchanged, compared to its average volume of 241,337. The company has a current ratio of 3.03, a quick ratio of 2.36 and a debt-to-equity ratio of 0.06. Brady Corp has a 1 year low of $36.70 and a 1 year high of $52.51. The company’s fifty day moving average is $49.69. The company has a market capitalization of $2.68 billion, a PE ratio of 24.84, a P/E/G ratio of 2.88 and a beta of 0.91.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th were issued a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Tuesday, July 9th. Brady’s dividend payout ratio is currently 41.67%.
In related news, SVP Louis T. Bolognini sold 9,288 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $51.08, for a total transaction of $474,431.04. Following the transaction, the senior vice president now owns 31,484 shares of the company’s stock, valued at $1,608,202.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Russell Shaller sold 2,225 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $48.25, for a total value of $107,356.25. Following the transaction, the vice president now directly owns 41,677 shares in the company, valued at approximately $2,010,915.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,367 shares of company stock worth $2,074,875. Corporate insiders own 15.60% of the company’s stock.
A number of analysts have weighed in on the company. ValuEngine cut Brady from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research upgraded Brady from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Tuesday, July 2nd. Finally, Wells Fargo & Co set a $45.00 price target on Brady and gave the company a “hold” rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Brady presently has a consensus rating of “Hold” and a consensus target price of $46.25.
Brady Company Profile
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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