Exchange Traded Concepts LLC Lowers Stock Holdings in Brady Co. (NYSE:BRC)

Exchange Traded Concepts LLC decreased its position in shares of Brady Co. (NYSE:BRC) by 11.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,684 shares of the industrial products company’s stock after selling 2,947 shares during the period. Exchange Traded Concepts LLC’s holdings in Brady were worth $1,815,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its position in Brady by 65.3% during the second quarter. Blue Trust Inc. now owns 663 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 262 shares in the last quarter. GAMMA Investing LLC raised its position in Brady by 337.1% during the second quarter. GAMMA Investing LLC now owns 918 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 708 shares in the last quarter. Quarry LP raised its position in Brady by 36.1% during the second quarter. Quarry LP now owns 962 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 255 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Brady during the first quarter valued at about $66,000. Finally, Quest Partners LLC purchased a new stake in Brady during the second quarter valued at about $119,000. Hedge funds and other institutional investors own 76.28% of the company’s stock.

Brady Stock Down 0.1 %

Shares of NYSE:BRC opened at $74.95 on Wednesday. The stock’s 50-day moving average price is $73.35 and its 200-day moving average price is $67.55. Brady Co. has a 12-month low of $51.35 and a 12-month high of $76.97. The stock has a market capitalization of $3.56 billion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 3.47 and a beta of 0.76. The company has a current ratio of 2.27, a quick ratio of 1.69 and a debt-to-equity ratio of 0.09.

Brady (NYSE:BRC) last announced its quarterly earnings data on Friday, September 6th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The firm had revenue of $343.40 million for the quarter, compared to analysts’ expectations of $351.74 million. Brady had a return on equity of 19.84% and a net margin of 14.70%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the firm earned $1.04 earnings per share. On average, equities analysts anticipate that Brady Co. will post 4.55 earnings per share for the current year.

Brady Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is a boost from Brady’s previous quarterly dividend of $0.24. This represents a $0.96 annualized dividend and a dividend yield of 1.28%. Brady’s dividend payout ratio (DPR) is presently 24.49%.

Insider Buying and Selling

In related news, CEO Russell Shaller sold 21,128 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $75.30, for a total value 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Russell Shaller sold 21,128 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $75.30, for a total value 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew Gorman sold 8,736 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $74.10, for a total transaction of $647,337.60. Following the completion of the sale, the general counsel now owns 10,140 shares of the company’s stock, valued at $751,374. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,262 shares of company stock valued at $3,371,231 over the last ninety days. 15.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.