QRG Capital Management Inc. Purchases 7,949 Shares of Brady Co. (NYSE:BRC)

QRG Capital Management Inc. increased its stake in Brady Co. (NYSE:BRC) by 80.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,847 shares of the industrial products company’s stock after buying an additional 7,949 shares during the period. QRG Capital Management Inc.’s holdings in Brady were worth $1,368,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Fort L.P. bought a new position in Brady in the third quarter worth about $220,000. Farther Finance Advisors LLC raised its stake in Brady by 10,983.3% in the third quarter. Farther Finance Advisors LLC now owns 1,995 shares of the industrial products company’s stock worth $153,000 after buying an additional 1,977 shares in the last quarter. GW Henssler & Associates Ltd. bought a new position in Brady in the third quarter worth about $219,000. BKM Wealth Management LLC bought a new position in Brady in the third quarter worth about $307,000. Finally, Assenagon Asset Management S.A. raised its stake in Brady by 143.1% in the third 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 in the last quarter. 76.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Brady news, COO Thomas F. Debruine sold 2,851 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $75.77, for a total value of $216,020.27. Following the sale, the chief operating officer now owns 9,727 shares in the company, valued at approximately $737,014.79. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Andrew Gorman sold 8,736 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $74.10, for a total transaction of $647,337.60. Following the sale, the general counsel now owns 10,140 shares in the company, valued at $751,374. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Thomas F. Debruine sold 2,851 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $75.77, for a total transaction of $216,020.27. Following the sale, the chief operating officer now owns 9,727 shares in the company, valued at approximately $737,014.79. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,262 shares of company stock worth $3,371,231. 15.60% of the stock is currently owned by company insiders.

Brady Price Performance

Shares of BRC opened at $76.69 on Friday. The stock has a market cap of $3.65 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 3.31 and a beta of 0.76. 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 Co. has a fifty-two week low of $52.68 and a fifty-two week high of $76.97. The firm’s 50-day simple moving average is $74.09 and its two-hundred day simple moving average is $69.26.

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

Brady Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, October 10th. This is a boost from Brady’s previous quarterly dividend of $0.24. Brady’s dividend payout ratio is 23.59%.

Wall Street Analysts Forecast Growth

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

About Brady

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.