Public Sector Pension Investment Board Grows Stake in Brady Corporation $BRC

Public Sector Pension Investment Board boosted its holdings in shares of Brady Corporation (NYSE:BRC) by 14.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 170,714 shares of the industrial products company’s stock after purchasing an additional 21,458 shares during the quarter. Public Sector Pension Investment Board owned about 0.36% of Brady worth $13,321,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC bought a new stake in shares of Brady during the third quarter valued at approximately $43,000. EverSource Wealth Advisors LLC increased its holdings in Brady by 89.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 684 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 322 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Brady by 156.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 618 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Brady in the 2nd quarter worth $91,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of Brady by 282.3% during the 1st quarter. NewEdge Advisors LLC now owns 1,644 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 1,214 shares during the last quarter. 76.28% of the stock is currently owned by institutional investors.

Brady Price Performance

NYSE:BRC opened at $96.56 on Monday. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 23.61 and a beta of 0.63. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.07 and a quick ratio of 1.39. The business has a 50 day simple moving average of $83.87 and a 200-day simple moving average of $79.02. Brady Corporation has a 1 year low of $62.70 and a 1 year high of $97.58.

Brady (NYSE:BRC) last released its earnings results on Monday, November 17th. The industrial products company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.03. The firm had revenue of $405.29 million for the quarter, compared to the consensus estimate of $393.65 million. Brady had a return on equity of 19.06% and a net margin of 12.74%.The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS. Equities analysts forecast that Brady Corporation will post 4.55 EPS for the current year.

Brady Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 9th were paid a dividend of $0.245 per share. The ex-dividend date of this dividend was Friday, January 9th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.0%. Brady’s payout ratio is currently 23.96%.

Insider Activity at Brady

In other Brady news, COO Thomas F. Debruine sold 5,538 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $81.00, for a total value of $448,578.00. Following the completion of the sale, the chief operating officer owned 10,181 shares of the company’s stock, valued at $824,661. This trade represents a 35.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elizabeth P. Bruno sold 22,462 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $74.69, for a total value of $1,677,686.78. Following the transaction, the director directly owned 575,000 shares in the company, valued at approximately $42,946,750. This represents a 3.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 73,586 shares of company stock worth $5,720,907 in the last three months. 15.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BRC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Brady in a report on Wednesday, January 21st. Wall Street Zen downgraded Brady from a “buy” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

Brady Company Profile

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.