Wells Fargo & Company MN Raises Holdings in Brady Corporation (BRC)

Wells Fargo & Company MN raised its stake in Brady Corporation (NYSE:BRC) by 10.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,060,105 shares of the industrial products company’s stock after acquiring an additional 103,634 shares during the period. Wells Fargo & Company MN owned 2.06% of Brady worth $40,231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BRC. Strs Ohio boosted its position in shares of Brady by 5.7% during the second quarter. Strs Ohio now owns 29,700 shares of the industrial products company’s stock worth $1,006,000 after buying an additional 1,600 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of Brady by 1.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 13,640 shares of the industrial products company’s stock worth $462,000 after buying an additional 240 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of Brady by 4.3% during the second quarter. Great West Life Assurance Co. Can now owns 70,360 shares of the industrial products company’s stock worth $2,382,000 after buying an additional 2,900 shares during the period. Texas Permanent School Fund boosted its position in shares of Brady by 1.1% during the second quarter. Texas Permanent School Fund now owns 34,868 shares of the industrial products company’s stock worth $1,182,000 after buying an additional 393 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of Brady during the second quarter worth approximately $298,000. Institutional investors and hedge funds own 76.88% of the company’s stock.

Several equities analysts have recently issued reports on the company. SunTrust Banks reiterated a “hold” rating and set a $38.00 price objective on shares of Brady in a research report on Friday, October 27th. Bank of America boosted their target price on Brady from $34.00 to $35.00 and gave the stock an “underperform” rating in a report on Friday, November 17th. Robert W. Baird reissued a “hold” rating and set a $36.00 target price on shares of Brady in a report on Friday, October 13th. Finally, Zacks Investment Research cut Brady from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $39.60.

In other Brady news, VP Thomas J. Felmer sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $39.00, for a total value of $390,000.00. Following the transaction, the vice president now owns 78,474 shares of the company’s stock, valued at $3,060,486. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Elizabeth P. Bruno sold 24,000 shares of the company’s 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 completion of the transaction, the director now directly owns 371,509 shares in the company, valued at approximately $13,652,955.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,380 shares of company stock worth $1,484,060. 15.60% of the stock is owned by corporate insiders.

Shares of Brady Corporation (NYSE:BRC) opened at $39.25 on Tuesday. Brady Corporation has a twelve month low of $31.70 and a twelve month high of $40.50. The company has a market capitalization of $2,015.92, a P/E ratio of 21.72, a P/E/G ratio of 2.70 and a beta of 1.19. The company has a current ratio of 2.19, a quick ratio of 1.62 and a debt-to-equity ratio of 0.13.

Brady (NYSE:BRC) last announced its earnings results on Thursday, November 16th. The industrial products company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Brady had a return on equity of 13.90% and a net margin of 8.81%. The firm had revenue of $290.15 million for the quarter, compared to analysts’ expectations of $286.75 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. analysts expect that Brady Corporation will post 1.93 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 10th will be issued a dividend of $0.2075 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.83 annualized dividend and a yield of 2.11%. Brady’s payout ratio is 43.92%.

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

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