Brady Co. (NYSE:BRC) Stake Trimmed by State Street Corp

State Street Corp reduced its position in shares of Brady Co. (NYSE:BRC) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,596,220 shares of the industrial products company’s stock after selling 63,651 shares during the quarter. State Street Corp owned 3.35% of Brady worth $122,318,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Royce & Associates LP boosted its position in Brady by 27.1% during the 3rd quarter. Royce & Associates LP now owns 555,792 shares of the industrial products company’s stock worth $42,590,000 after acquiring an additional 118,557 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Brady during the third quarter worth approximately $645,000. Natixis Advisors LLC purchased a new position in Brady during the third quarter valued at approximately $792,000. Thrivent Financial for Lutherans increased its stake in Brady by 38.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 183,041 shares of the industrial products company’s stock valued at $14,026,000 after buying an additional 51,022 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Brady by 20.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 479,057 shares of the industrial products company’s stock valued at $36,710,000 after buying an additional 82,438 shares during the period. Institutional investors and hedge funds own 76.28% of the company’s stock.

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.

Insider Transactions at Brady

In related news, General Counsel Andrew Gorman sold 8,736 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $74.10, for a total value of $647,337.60. Following the completion of the sale, the general counsel now owns 10,140 shares in the company, valued at approximately $751,374. This trade represents a 46.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Russell Shaller sold 21,128 shares of Brady 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 in the company, valued at approximately $7,691,895. This trade represents a 17.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,715 shares of company stock worth $2,454,296. Company insiders own 15.60% of the company’s stock.

Brady Stock Performance

Shares of BRC opened at $75.60 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.84 and a debt-to-equity ratio of 0.11. Brady Co. has a 12 month low of $56.09 and a 12 month high of $77.68. The company’s fifty day moving average is $74.26 and its 200-day moving average is $71.56. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 18.57 and a beta of 0.77.

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

Brady Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be issued a $0.24 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.96 annualized dividend and a yield of 1.27%. Brady’s dividend payout ratio (DPR) is presently 23.59%.

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.