Connor Clark & Lunn Investment Management Ltd. Sells 53,372 Shares of Brady Co. (NYSE:BRC)

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of Brady Co. (NYSE:BRC) by 62.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 31,690 shares of the industrial products company’s stock after selling 53,372 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Brady were worth $2,428,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Brady by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 5,307,191 shares of the industrial products company’s stock valued at $314,610,000 after buying an additional 32,437 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Brady by 1.7% during 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 period. DekaBank Deutsche Girozentrale boosted its stake in Brady by 23.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 560,274 shares of the industrial products company’s stock worth $36,631,000 after acquiring an additional 106,652 shares in the last quarter. Royce & Associates LP grew its holdings in Brady by 27.1% in the third quarter. Royce & Associates LP now owns 555,792 shares of the industrial products company’s stock worth $42,590,000 after purchasing an additional 118,557 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Brady by 20.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 479,057 shares of the industrial products company’s stock valued at $36,710,000 after purchasing an additional 82,438 shares in the last quarter. 76.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Russell Shaller sold 21,128 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $75.30, for a total transaction of $1,590,938.40. Following the sale, the chief executive officer now directly owns 102,150 shares of the company’s stock, valued at $7,691,895. This trade represents a 17.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Thomas F. Debruine sold 2,851 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $75.77, for a total value of $216,020.27. Following the completion of the transaction, the chief operating officer now directly owns 9,727 shares of the company’s stock, valued at approximately $737,014.79. This trade represents a 22.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,262 shares of company stock valued at $3,371,231. Corporate insiders own 15.60% of the company’s stock.

Brady Price Performance

Shares of NYSE:BRC opened at $72.78 on Monday. The business has a fifty day moving average price of $74.15 and a 200-day moving average price of $70.35. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.84 and a quick ratio of 1.69. The company has a market capitalization of $3.48 billion, a PE ratio of 17.88, a PEG ratio of 3.29 and a beta of 0.76. Brady Co. has a 1-year low of $52.99 and a 1-year high of $77.68.

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

Brady Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.32%. This is an increase from Brady’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, October 10th. Brady’s dividend payout ratio (DPR) is currently 23.59%.

Wall Street Analysts Forecast Growth

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

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.