Palouse Capital Management Inc. Sells 243 Shares of Brady Co. (NYSE:BRC)

Palouse Capital Management Inc. reduced its stake in Brady Co. (NYSE:BRC) by 6.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,441 shares of the industrial products company’s stock after selling 243 shares during the quarter. Palouse Capital Management Inc.’s holdings in Brady were worth $227,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BRC. SYSTM Wealth Solutions LLC bought a new position in shares of Brady in the first quarter worth about $35,000. Blue Trust Inc. increased its holdings in Brady by 65.3% in the 2nd quarter. Blue Trust Inc. now owns 663 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 262 shares in the last quarter. GAMMA Investing LLC raised its stake in Brady by 337.1% during the 2nd quarter. GAMMA Investing LLC now owns 918 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 708 shares during the period. EntryPoint Capital LLC purchased a new position in Brady during the first quarter valued at approximately $66,000. Finally, Quest Partners LLC bought a new position in shares of Brady in the second quarter worth approximately $119,000. 76.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Brady from a “buy” rating to a “strong-buy” rating in a research note on Sunday.

Insider Activity at Brady

In related news, CEO Russell Shaller sold 12,547 shares of the company’s stock in a transaction on Friday, September 13th. The shares were 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 $7,520,297.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 15.60% of the stock is currently owned by insiders.

Brady Trading Down 0.1 %

Brady stock opened at $73.65 on Thursday. 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 firm’s 50 day moving average price is $71.19 and its 200-day moving average price is $65.20. Brady Co. has a 1 year low of $51.35 and a 1 year high of $76.82. The stock has a market cap of $3.50 billion, a P/E ratio of 18.79, a PEG ratio of 3.36 and a beta of 0.76.

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

Brady Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.30%. This is a boost from Brady’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, October 10th. Brady’s dividend payout ratio is 24.49%.

Brady Profile

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.