Brady Corporation $BRC Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its stake in shares of Brady Corporation (NYSE:BRC) by 60.5% during the second quarter, Holdings Channel reports. The fund owned 15,586 shares of the industrial products company’s stock after selling 23,856 shares during the period. Assenagon Asset Management S.A.’s holdings in Brady were worth $1,427,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BRC. Bank of America Corp DE grew its position in shares of Brady by 112.4% during the first quarter. Bank of America Corp DE now owns 48,672 shares of the industrial products company’s stock worth $3,954,000 after buying an additional 25,760 shares in the last quarter. Amundi lifted its stake in Brady by 26.3% in the first quarter. Amundi now owns 9,148 shares of the industrial products company’s stock worth $743,000 after acquiring an additional 1,907 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Brady by 25.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,249 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 251 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Brady by 19.9% in the 1st quarter. California State Teachers Retirement System now owns 45,801 shares of the industrial products company’s stock valued at $3,721,000 after purchasing an additional 7,590 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Brady by 346.2% in the 1st quarter. Royal Bank of Canada now owns 11,120 shares of the industrial products company’s stock valued at $904,000 after purchasing an additional 8,628 shares in the last quarter. 76.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Brady

In related news, CEO Vineet A. Nargolwala bought 13,011 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was bought at an average cost of $76.86 per share, with a total value of $1,000,025.46. Following the completion of the acquisition, the chief executive officer owned 52,709 shares in the company, valued at approximately $4,051,213.74. This represents a 32.77% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 15.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Sidoti raised shares of Brady from a “neutral” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Tuesday, June 9th. Wall Street Zen raised Brady from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Brady in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $103.00.

Brady Stock Performance

Shares of BRC opened at $94.03 on Friday. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 21.42 and a beta of 0.61. Brady Corporation has a 52-week low of $70.57 and a 52-week high of $99.29. The company has a quick ratio of 1.36, a current ratio of 2.01 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average price of $90.64 and a 200 day moving average price of $87.42.

Brady (NYSE:BRC) last released its quarterly earnings results on Monday, May 18th. The industrial products company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.15. Brady had a return on equity of 19.01% and a net margin of 12.93%.The firm had revenue of $435.24 million for the quarter, compared to the consensus estimate of $406.07 million. During the same quarter last year, the business posted $1.22 EPS. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. Brady has set its FY 2026 guidance at 5.200-5.300 EPS. Research analysts predict that Brady Corporation will post 5.25 EPS for the current fiscal year.

Brady Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 10th were issued a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, July 10th. Brady’s dividend payout ratio (DPR) is currently 22.32%.

About Brady

Brady Corporation is a global provider of identification and safety solutions, specializing in the design, manufacture and sale of products that help businesses improve safety, security and efficiency. The company offers an array of durable labels, signs, safety devices, printing systems and software platforms tailored to a wide range of industrial and commercial environments.

Founded in 1914 by William H. Brady, Brady Corporation has grown from a regional marker manufacturer into a diversified global enterprise.