Brady Co. (NYSE:BRC) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp trimmed its holdings in Brady Co. (NYSE:BRC) by 5.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,045 shares of the industrial products company’s stock after selling 2,157 shares during the quarter. Texas Permanent School Fund Corp owned about 0.08% of Brady worth $2,446,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Raymond James & Associates lifted its holdings in shares of Brady by 0.3% during the second quarter. Raymond James & Associates now owns 46,010 shares of the industrial products company’s stock worth $3,038,000 after purchasing an additional 144 shares during the period. Andina Capital Management LLC raised its stake in shares of Brady by 3.2% during the 2nd quarter. Andina Capital Management LLC now owns 5,531 shares of the industrial products company’s stock worth $365,000 after buying an additional 169 shares in the last quarter. Arizona State Retirement System grew its holdings in Brady by 1.9% during the second quarter. Arizona State Retirement System now owns 12,540 shares of the industrial products company’s stock worth $828,000 after acquiring an additional 230 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in Brady by 2.0% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 12,729 shares of the industrial products company’s stock worth $840,000 after acquiring an additional 251 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Brady by 65.3% in the second quarter. Blue Trust Inc. now owns 663 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 262 shares during the period. 76.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Brady

In related news, CEO Russell Shaller sold 12,547 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.08, for a total value of $916,934.76. Following the sale, the chief executive officer now owns 102,905 shares of the company’s stock, valued at approximately $7,520,297.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 15.60% of the stock is owned by corporate insiders.

Brady Trading Down 0.0 %

Shares of BRC opened at $74.58 on Tuesday. Brady Co. has a fifty-two week low of $51.35 and a fifty-two week high of $76.82. The company has a market capitalization of $3.54 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 3.36 and a beta of 0.76. The stock has a fifty day moving average of $71.02 and a two-hundred day moving average of $65.09. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.69 and a current ratio of 2.27.

Brady (NYSE:BRC) last posted its earnings results on Friday, September 6th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. Brady had a net margin of 14.70% and a return on equity of 19.84%. The firm had revenue of $343.40 million during the quarter, compared to the consensus estimate of $351.74 million. During the same quarter in the prior year, the company earned $1.04 EPS. The company’s revenue was down .7% on a year-over-year basis. As a group, analysts forecast that Brady Co. will post 4.55 EPS for the current year.

Brady Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.24 per share. This is a boost from Brady’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, October 10th. This represents a $0.96 annualized dividend and a dividend yield of 1.29%. Brady’s dividend payout ratio (DPR) is presently 24.49%.

Analysts Set New Price Targets

Separately, StockNews.com raised Brady from a “buy” rating to a “strong-buy” rating in a research note on Sunday.

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.