Moran Wealth Management LLC lessened its holdings in Brady Co. (NYSE:BRC – Free Report) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 78,058 shares of the industrial products company’s stock after selling 278 shares during the period. Moran Wealth Management LLC owned about 0.16% of Brady worth $3,713,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. US Bancorp DE raised its stake in shares of Brady by 34.5% in the second quarter. US Bancorp DE now owns 775 shares of the industrial products company’s stock worth $37,000 after buying an additional 199 shares during the period. Arizona State Retirement System raised its stake in shares of Brady by 1.6% in the first quarter. Arizona State Retirement System now owns 13,386 shares of the industrial products company’s stock worth $719,000 after buying an additional 212 shares during the period. Lazard Asset Management LLC raised its stake in shares of Brady by 14.4% in the first quarter. Lazard Asset Management LLC now owns 2,232 shares of the industrial products company’s stock worth $103,000 after buying an additional 281 shares during the period. Captrust Financial Advisors raised its stake in shares of Brady by 8.6% in the second quarter. Captrust Financial Advisors now owns 3,662 shares of the industrial products company’s stock worth $173,000 after buying an additional 290 shares during the period. Finally, Belpointe Asset Management LLC raised its stake in shares of Brady by 27.1% in the first quarter. Belpointe Asset Management LLC now owns 1,456 shares of the industrial products company’s stock worth $78,000 after buying an additional 310 shares during the period. Institutional investors own 71.30% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently commented on BRC shares. StockNews.com raised Brady from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Bank of America raised their price target on Brady from $47.00 to $51.00 in a report on Wednesday, October 4th.
Brady Price Performance
NYSE:BRC opened at $53.97 on Tuesday. The company has a quick ratio of 1.35, a current ratio of 2.03 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.61 billion, a PE ratio of 15.38, a P/E/G ratio of 1.94 and a beta of 0.73. The business’s 50-day simple moving average is $54.30 and its two-hundred day simple moving average is $51.42. Brady Co. has a 52 week low of $44.71 and a 52 week high of $58.20.
Brady (NYSE:BRC – Get Free Report) last announced its quarterly earnings results on Thursday, November 16th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.05. The company had revenue of $331.90 million for the quarter, compared to the consensus estimate of $342.01 million. Brady had a net margin of 13.13% and a return on equity of 18.78%. Brady’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 EPS. As a group, analysts forecast that Brady Co. will post 4 EPS for the current fiscal year.
Brady Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 10th will be issued a $0.235 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $0.94 dividend on an annualized basis and a yield of 1.74%. Brady’s dividend payout ratio is currently 26.78%.
Insider Buying and Selling at Brady
In related news, VP Bentley Curran sold 6,209 shares of the business’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $55.96, for a total value of $347,455.64. Following the sale, the vice president now owns 15,462 shares in the company, valued at $865,253.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Nancy Lee Gioia sold 4,250 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $55.82, for a total transaction of $237,235.00. Following the transaction, the director now owns 11,456 shares of the company’s stock, valued at approximately $639,473.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Bentley Curran sold 6,209 shares of the firm’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $55.96, for a total value of $347,455.64. Following the completion of the sale, the vice president now owns 15,462 shares of the company’s stock, valued at $865,253.52. The disclosure for this sale can be found here. 15.60% of the stock is currently owned by insiders.
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 company offers materials, printing systems, RFID, and bar code scanners for product identification, brand protection labeling, work in process labeling, finished product identification, and industrial track and trace applications; safety signs, floor-marking tapes, pipe markers, labeling systems, spill control products, lockout/tagout device, and software and services for safety compliance auditing, procedure writing, and training; and hand-held printers, wire markers, sleeves, and tags for wire identification.
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