Ritholtz Wealth Management Decreases Stake in Brady Co. (NYSE:BRC)

Ritholtz Wealth Management cut its position in Brady Co. (NYSE:BRC) by 23.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,910 shares of the industrial products company’s stock after selling 2,124 shares during the period. Ritholtz Wealth Management’s holdings in Brady were worth $510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC purchased a new position in Brady in the second quarter valued at $219,000. Dimensional Fund Advisors LP increased its holdings in shares of Brady by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,510,180 shares of the industrial products company’s stock valued at $99,701,000 after acquiring an additional 24,786 shares during the last quarter. XTX Topco Ltd raised its position in shares of Brady by 53.4% during the 2nd quarter. XTX Topco Ltd now owns 9,309 shares of the industrial products company’s stock worth $615,000 after acquiring an additional 3,242 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Brady during the second quarter worth approximately $232,000. Finally, Sei Investments Co. boosted its holdings in Brady by 151.7% in the second quarter. Sei Investments Co. now owns 13,351 shares of the industrial products company’s stock valued at $881,000 after purchasing an additional 8,047 shares in the last quarter. 76.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Brady from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th.

Brady Price Performance

Shares of BRC opened at $73.53 on Tuesday. The firm has a fifty day moving average price of $74.15 and a 200 day moving average price of $73.00. The stock has a market cap of $3.51 billion, a PE ratio of 18.07 and a beta of 0.77. Brady Co. has a 1-year low of $56.09 and a 1-year high of $77.68. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.84 and a quick ratio of 1.25.

Brady (NYSE:BRC) last posted its earnings results on Monday, November 18th. The industrial products company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.02. The business had revenue of $377.10 million during the quarter, compared to the consensus estimate of $365.88 million. Brady had a return on equity of 19.79% and a net margin of 14.19%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 EPS. As a group, sell-side analysts anticipate that Brady Co. will post 4.55 EPS for the current year.

Brady Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.31%. Brady’s payout ratio is 23.59%.

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.