Royal Bank of Canada Has $904,000 Stock Position in Brady Corporation $BRC

Royal Bank of Canada lifted its holdings in Brady Corporation (NYSE:BRC) by 346.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,120 shares of the industrial products company’s stock after purchasing an additional 8,628 shares during the quarter. Royal Bank of Canada’s holdings in Brady were worth $904,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in shares of Brady in the third quarter valued at about $31,000. Global Retirement Partners LLC boosted its stake in Brady by 42.4% in the 4th quarter. Global Retirement Partners LLC now owns 450 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 134 shares during the period. Leonteq Securities AG acquired a new position in shares of Brady in the first quarter valued at about $40,000. EverSource Wealth Advisors LLC increased its holdings in shares of Brady by 89.0% during the second quarter. EverSource Wealth Advisors LLC now owns 684 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 322 shares during the period. Finally, Danske Bank A S bought a new position in Brady during the 3rd quarter worth $70,000. Institutional investors own 76.28% of the company’s stock.

Brady Trading Up 0.3%

Shares of Brady stock opened at $90.98 on Friday. The firm’s 50 day moving average is $92.04 and its 200 day moving average is $87.68. The firm has a market capitalization of $4.29 billion, a PE ratio of 20.72 and a beta of 0.61. Brady Corporation has a 1 year low of $70.57 and a 1 year high of $99.29. The company has a current ratio of 2.01, a quick ratio of 1.36 and a debt-to-equity ratio of 0.02.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BRC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Brady in a research note on Friday, August 7th. Wall Street Zen raised shares of Brady from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Finally, Sidoti raised shares of Brady from a “neutral” rating to a “buy” rating and set a $103.00 price objective on the stock in a research note on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $103.00.

Insider Buying and Selling at Brady

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

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.