Rhumbline Advisers Lowers Stake in Brady Co. (NYSE:BRC)

Rhumbline Advisers lessened its stake in Brady Co. (NYSE:BRC) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,633 shares of the industrial products company’s stock after selling 2,388 shares during the period. Rhumbline Advisers owned 0.14% of Brady worth $4,333,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB bought a new position in shares of Brady during the 1st quarter worth $13,439,000. Lord Abbett & CO. LLC raised its stake in shares of Brady by 21.1% during the 1st quarter. Lord Abbett & CO. LLC now owns 610,505 shares of the industrial products company’s stock worth $36,190,000 after buying an additional 106,219 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in Brady by 16.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 453,622 shares of the industrial products company’s stock valued at $26,950,000 after buying an additional 65,169 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Brady by 1,135.8% during the second quarter. SG Americas Securities LLC now owns 65,211 shares of the industrial products company’s stock worth $4,305,000 after purchasing an additional 59,934 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Brady by 73.0% in the 4th quarter. Allianz Asset Management GmbH now owns 140,954 shares of the industrial products company’s stock valued at $8,273,000 after acquiring an additional 59,488 shares during the last quarter. Institutional investors own 76.28% of the company’s stock.

Brady Stock Performance

NYSE BRC opened at $74.58 on Tuesday. The company has a market cap of $3.54 billion, a P/E ratio of 19.03, a P/E/G ratio of 3.36 and a beta of 0.76. Brady Co. has a 1-year low of $51.35 and a 1-year high of $76.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.27 and a quick ratio of 1.69. The stock has a 50-day moving average of $71.02 and a two-hundred day moving average of $65.09.

Brady (NYSE:BRC) last announced its quarterly earnings data on Friday, September 6th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.08. Brady had a return on equity of 19.84% and a net margin of 14.70%. The business had revenue of $343.40 million during the quarter, compared to analysts’ expectations of $351.74 million. During the same quarter last year, the business posted $1.04 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. As a group, analysts anticipate that Brady Co. will post 4.55 EPS for the current year.

Brady Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a $0.24 dividend. The ex-dividend date is Thursday, October 10th. This is a boost from Brady’s previous quarterly dividend of $0.24. This represents a $0.96 dividend on an annualized basis and a yield of 1.29%. Brady’s dividend payout ratio (DPR) is currently 24.49%.

Insiders Place Their Bets

In other news, CEO Russell Shaller sold 12,547 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.08, for a total transaction of $916,934.76. Following the sale, the chief executive officer now owns 102,905 shares of the company’s stock, valued at approximately $7,520,297.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Brady from a “buy” rating to a “strong-buy” rating in a report on Sunday.

About Brady

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.