Bank of New York Mellon Corp Trims Stake in Brady Co. (NYSE:BRC)

Bank of New York Mellon Corp lowered its position in Brady Co. (NYSE:BRC) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 335,322 shares of the industrial products company’s stock after selling 26,986 shares during the quarter. Bank of New York Mellon Corp owned about 0.70% of Brady worth $24,764,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Andina Capital Management LLC raised its stake in shares of Brady by 3.2% in the fourth quarter. Andina Capital Management LLC now owns 5,718 shares of the industrial products company’s stock valued at $422,000 after acquiring an additional 179 shares during the period. GAMMA Investing LLC increased its stake in Brady by 10.5% in the 4th quarter. GAMMA Investing LLC now owns 1,938 shares of the industrial products company’s stock worth $143,000 after buying an additional 184 shares during the period. Stifel Financial Corp increased its stake in Brady by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 54,396 shares of the industrial products company’s stock worth $4,168,000 after buying an additional 197 shares during the period. Glenmede Trust Co. NA increased its stake in Brady by 5.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 3,755 shares of the industrial products company’s stock worth $288,000 after buying an additional 198 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Brady by 2.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the industrial products company’s stock worth $784,000 after buying an additional 257 shares during the period. Hedge funds and other institutional investors own 76.28% of the company’s stock.

Brady Trading Up 2.7 %

BRC stock opened at $71.63 on Monday. The company has a market capitalization of $3.42 billion, a PE ratio of 17.60 and a beta of 0.72. Brady Co. has a 12 month low of $56.71 and a 12 month high of $77.68. The firm’s 50-day moving average is $73.33 and its 200 day moving average is $73.93. 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 quarterly earnings results on Friday, February 21st. The industrial products company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.03). Brady had a return on equity of 19.79% and a net margin of 14.19%. The company had revenue of $356.68 million during the quarter, compared to analysts’ expectations of $359.21 million. During the same period in the prior year, the business earned $0.93 EPS. On average, research 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 Wednesday, April 30th. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.34%. The ex-dividend date is Wednesday, April 9th. Brady’s payout ratio is 24.00%.

Brady Company 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.