Legato Capital Management LLC Decreases Stock Position in Brady Co. (NYSE:BRC)

Legato Capital Management LLC trimmed its holdings in shares of Brady Co. (NYSE:BRC) by 25.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,061 shares of the industrial products company’s stock after selling 3,434 shares during the quarter. Legato Capital Management LLC’s holdings in Brady were worth $743,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BRC. FMR LLC lifted its holdings in shares of Brady by 39.5% during the third quarter. FMR LLC now owns 2,658,925 shares of the industrial products company’s stock valued at $203,753,000 after purchasing an additional 753,092 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Brady by 143.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 266,981 shares of the industrial products company’s stock worth $20,459,000 after buying an additional 157,149 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Brady by 1,121.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 159,668 shares of the industrial products company’s stock valued at $12,235,000 after acquiring an additional 146,601 shares during the period. Royce & Associates LP boosted its holdings in shares of Brady by 27.1% during the 3rd quarter. Royce & Associates LP now owns 555,792 shares of the industrial products company’s stock valued at $42,590,000 after acquiring an additional 118,557 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Brady by 20.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 479,057 shares of the industrial products company’s stock worth $36,710,000 after acquiring an additional 82,438 shares during the period. Institutional investors own 76.28% of the company’s stock.

Brady Stock Up 1.1 %

BRC opened at $73.62 on Friday. Brady Co. has a twelve month low of $56.09 and a twelve month high of $77.68. The company has a quick ratio of 1.25, a current ratio of 1.84 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average price of $74.33 and a 200-day moving average price of $73.72. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 18.09 and a beta of 0.76.

Brady (NYSE:BRC) last released its quarterly earnings results on Monday, November 18th. The industrial products company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.02. Brady had a return on equity of 19.79% and a net margin of 14.19%. The firm had revenue of $377.10 million for the quarter, compared to analysts’ expectations of $365.88 million. During the same period in the prior year, the firm earned $1.00 EPS. The company’s revenue was up 13.6% compared to the same quarter last year. Equities research analysts forecast that Brady Co. will post 4.55 earnings per share for the current year.

Brady Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 10th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, January 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.30%. Brady’s dividend payout ratio is currently 23.59%.

Brady 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.