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.
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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.
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