Nordea Investment Management AB Acquires 14,702 Shares of Brady Co. (NYSE:BRC)

Nordea Investment Management AB lifted its holdings in shares of Brady Co. (NYSE:BRC) by 18.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,174 shares of the industrial products company’s stock after purchasing an additional 14,702 shares during the period. Nordea Investment Management AB owned about 0.20% of Brady worth $6,945,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BRC. GAMMA Investing LLC raised its position in Brady by 10.5% in the fourth quarter. GAMMA Investing LLC now owns 1,938 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 184 shares during the period. Creative Planning lifted its stake in Brady by 1.9% in the third quarter. Creative Planning now owns 10,472 shares of the industrial products company’s stock valued at $802,000 after purchasing an additional 195 shares during the last quarter. Stifel Financial Corp grew its holdings in Brady by 0.4% during the third quarter. Stifel Financial Corp now owns 54,396 shares of the industrial products company’s stock valued at $4,168,000 after purchasing an additional 197 shares during the period. Glenmede Trust Co. NA increased its position in Brady by 5.6% in the third quarter. Glenmede Trust Co. NA now owns 3,755 shares of the industrial products company’s stock worth $288,000 after buying an additional 198 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Brady by 1.9% in the second quarter. Arizona State Retirement System now owns 12,540 shares of the industrial products company’s stock valued at $828,000 after buying an additional 230 shares during the period. 76.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Brady Stock Performance

Shares of BRC stock opened at $73.69 on Friday. The stock has a market capitalization of $3.52 billion, a P/E ratio of 18.11 and a beta of 0.77. The firm’s 50 day moving average is $74.39 and its 200 day moving average is $72.56. Brady Co. has a 12 month low of $56.09 and a 12 month high of $77.68. The company has a current ratio of 1.84, a quick ratio of 1.25 and a debt-to-equity ratio of 0.11.

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, topping the consensus estimate of $1.10 by $0.02. The firm had revenue of $377.10 million for the quarter, compared to analysts’ expectations of $365.88 million. Brady had a net margin of 14.19% and a return on equity of 19.79%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 earnings per share. On average, sell-side analysts anticipate that Brady Co. will post 4.55 earnings per share for the current year.

Brady Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Friday, January 10th. Brady’s payout ratio is currently 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.