Algert Global LLC Has $11.99 Million Holdings in Brady Co. (NYSE:BRC)

Algert Global LLC cut its holdings in Brady Co. (NYSE:BRC) by 0.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 181,626 shares of the industrial products company’s stock after selling 587 shares during the quarter. Brady accounts for approximately 0.4% of Algert Global LLC’s holdings, making the stock its 21st largest position. Algert Global LLC’s holdings in Brady were worth $11,991,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SYSTM Wealth Solutions LLC bought a new stake in Brady during the first quarter worth about $35,000. Blue Trust Inc. lifted 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 worth $44,000 after purchasing an additional 262 shares during the period. GAMMA Investing LLC lifted 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 worth $61,000 after purchasing an additional 708 shares during the period. EntryPoint Capital LLC bought a new stake in Brady during the first quarter worth about $66,000. Finally, Quest Partners LLC bought a new stake in Brady during the second quarter worth about $119,000. Institutional investors own 76.28% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Brady from a “buy” rating to a “strong-buy” rating in a report on Wednesday.

Brady Stock Down 1.1 %

BRC stock opened at $75.23 on Friday. The stock has a market capitalization of $3.57 billion, a P/E ratio of 19.19, a price-to-earnings-growth 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 12 month low of $51.35 and a 12 month high of $76.97. The firm has a 50-day moving average price of $72.42 and a 200-day moving average price of $66.12.

Brady (NYSE:BRC) last posted its earnings results 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. The firm had revenue of $343.40 million during 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 for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.04 earnings per share. As a group, equities research analysts anticipate that Brady Co. will post 4.55 EPS for the current fiscal 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 issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, October 10th. This is a positive change from Brady’s previous quarterly dividend of $0.24. Brady’s dividend payout ratio (DPR) is 24.49%.

Insider Activity at Brady

In related news, CEO Russell Shaller sold 12,547 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $73.08, for a total value of $916,934.76. Following the completion of the transaction, the chief executive officer now owns 102,905 shares in the company, valued at approximately $7,520,297.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Brady 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 transaction of $216,020.27. Following the completion of the sale, the chief operating officer now owns 9,727 shares of the company’s stock, valued at approximately $737,014.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Russell Shaller sold 12,547 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $73.08, for a total transaction of $916,934.76. Following the sale, the chief executive officer now directly owns 102,905 shares of the company’s stock, valued at approximately $7,520,297.40. The disclosure for this sale can be found here. Insiders sold a total of 24,134 shares of company stock worth $1,780,293 in the last quarter. 15.60% of the stock is owned by insiders.

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.