Brady Co. (NYSE:BRC) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado reduced its position in Brady Co. (NYSE:BRC) by 5.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,108 shares of the industrial products company’s stock after selling 346 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Brady were worth $403,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its holdings in Brady by 65.8% in the fourth quarter. BNP Paribas Financial Markets now owns 14,055 shares of the industrial products company’s stock worth $825,000 after purchasing an additional 5,579 shares during the period. TD Asset Management Inc bought a new position in shares of Brady in the fourth quarter valued at approximately $1,819,000. Allianz Asset Management GmbH increased its position in shares of Brady by 73.0% during the 4th quarter. Allianz Asset Management GmbH now owns 140,954 shares of the industrial products company’s stock valued at $8,273,000 after purchasing an additional 59,488 shares during the period. Dean Capital Management grew its holdings in Brady by 5.6% during the fourth quarter. Dean Capital Management now owns 37,412 shares of the industrial products company’s stock worth $2,196,000 after acquiring an additional 1,979 shares during the period. Finally, Point72 Europe London LLP acquired a new position in shares of Brady in the 4th quarter worth approximately $632,000. Institutional investors and hedge funds own 76.28% of the company’s stock.

Brady Price Performance

BRC stock opened at $75.24 on Friday. The firm has a 50-day moving average of $72.42 and a two-hundred day moving average of $66.06. The firm has a market capitalization of $3.57 billion, a PE ratio of 19.19, a P/E/G ratio of 3.49 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 Co. has a one year low of $51.35 and a one year high of $76.97.

Brady (NYSE:BRC) last posted its quarterly earnings data on Friday, September 6th. The industrial products company reported $1.19 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 analyst estimates of $351.74 million. During the same quarter last year, the business posted $1.04 EPS. The company’s revenue was down .7% on a year-over-year basis. On average, analysts forecast that Brady Co. will post 4.55 earnings per share for the current year.

Brady Increases Dividend

The firm also recently disclosed 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. This is an increase from Brady’s previous quarterly dividend of $0.24. This represents a $0.96 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, October 10th. Brady’s dividend payout ratio is currently 24.49%.

Insiders Place Their Bets

In other news, 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 value of $216,020.27. Following the completion of the sale, the chief operating officer now directly owns 9,727 shares of the company’s stock, valued at $737,014.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Andrew Gorman sold 8,736 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $74.10, for a total value of $647,337.60. Following the transaction, the general counsel now directly owns 10,140 shares of the company’s stock, valued at $751,374. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Thomas F. Debruine sold 2,851 shares of the stock in a transaction on Thursday, September 26th. The stock was 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 of the company’s stock, valued at $737,014.79. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,134 shares of company stock worth $1,780,293. 15.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Brady from a “buy” rating to a “strong-buy” rating in a research report on Wednesday.

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.