Employees Retirement System of Texas Continues to Hold Position in Brady Corporation (BRC)

Employees Retirement System of Texas maintained its position in Brady Corporation (NYSE:BRC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,000 shares of the industrial products company’s stock at the close of the 2nd quarter. Employees Retirement System of Texas owned 0.13% of Brady Corporation worth $2,237,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Balyasny Asset Management LLC bought a new stake in Brady Corporation in the 2nd quarter worth approximately $307,000. Zacks Investment Management bought a new stake in Brady Corporation in the 2nd quarter worth approximately $667,000. OxFORD Asset Management LLP bought a new stake in Brady Corporation in the 2nd quarter worth approximately $930,000. Dimensional Fund Advisors LP grew its position in Brady Corporation by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,714,694 shares of the industrial products company’s stock worth $58,128,000 after purchasing an additional 16,270 shares during the period. Finally, Citadel Advisors LLC grew its position in Brady Corporation by 74.9% in the 2nd quarter. Citadel Advisors LLC now owns 45,217 shares of the industrial products company’s stock worth $1,533,000 after purchasing an additional 19,367 shares during the period. 75.95% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: “Employees Retirement System of Texas Continues to Hold Position in Brady Corporation (BRC)” was originally reported by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece on another website, it was illegally copied and republished in violation of international copyright & trademark laws. The original version of this piece can be accessed at https://sportsperspectives.com/2017/10/12/employees-retirement-system-of-texas-continues-to-hold-position-in-brady-corporation-brc.html.

A number of research firms have commented on BRC. Zacks Investment Research downgraded shares of Brady Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Bank of America Corporation lifted their price target on shares of Brady Corporation from $33.00 to $34.00 and gave the stock an “underperform” rating in a research note on Friday, September 8th. Robert W. Baird set a $36.00 price target on shares of Brady Corporation and gave the stock a “hold” rating in a research note on Thursday, August 24th. Finally, BidaskClub cut shares of Brady Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $38.33.

Brady Corporation (NYSE BRC) opened at 38.50 on Thursday. The stock’s 50 day moving average is $36.12 and its 200 day moving average is $35.92. The stock has a market cap of $1.98 billion, a PE ratio of 21.10 and a beta of 1.13. Brady Corporation has a 52 week low of $31.70 and a 52 week high of $40.50.

Brady Corporation (NYSE:BRC) last released its quarterly earnings data on Thursday, September 7th. The industrial products company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The firm had revenue of $289.20 million for the quarter, compared to analyst estimates of $280.47 million. Brady Corporation had a net margin of 8.59% and a return on equity of 13.93%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 earnings per share. Analysts predict that Brady Corporation will post $1.93 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 10th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 8.62%. This is a positive change from Brady Corporation’s previous quarterly dividend of $0.21. Brady Corporation’s dividend payout ratio is presently 45.11%.

In other news, Director Elizabeth P. Bruno sold 24,000 shares of the stock in a transaction on Monday, September 25th. The shares were sold at an average price of $36.75, for a total value of $882,000.00. Following the sale, the director now owns 371,509 shares in the company, valued at $13,652,955.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.60% of the stock is owned by corporate insiders.

Brady Corporation Profile

Brady Corporation is a manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people. The Company has two segments: Identification Solutions (IDS) and Workplace Safety (WPS). The IDS segment includes identification and healthcare products, and the WPS segment includes workplace safety and compliance products.

Want to see what other hedge funds are holding BRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brady Corporation (NYSE:BRC).

Institutional Ownership by Quarter for Brady Corporation (NYSE:BRC)

Receive News & Ratings for Brady Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brady Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply