Louisiana State Employees Retirement System Cuts Stake in Brady Co. (NYSE:BRC)

Louisiana State Employees Retirement System cut its holdings in shares of Brady Co. (NYSE:BRC) by 5.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,200 shares of the industrial products company’s stock after selling 1,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Brady were worth $1,625,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in shares of 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 valued at $20,459,000 after acquiring an additional 157,149 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Brady by 20.8% in 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 purchasing an additional 82,438 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Brady by 542.1% in the 3rd quarter. Blue Trust Inc. now owns 4,257 shares of the industrial products company’s stock valued at $326,000 after buying an additional 3,594 shares during the period. Creative Planning grew its position in shares of Brady by 1.9% during the third quarter. Creative Planning now owns 10,472 shares of the industrial products company’s stock worth $802,000 after buying an additional 195 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Brady in the third quarter valued at approximately $251,000. Hedge funds and other institutional investors own 76.28% of the company’s stock.

Insider Buying and Selling

In other Brady 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 completion of the transaction, 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 legal filing with the SEC, which is available at this hyperlink. In other Brady news, General Counsel Andrew Gorman sold 8,736 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Russell Shaller sold 12,547 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.08, for a total transaction of $916,934.76. Following the transaction, the chief executive officer now owns 102,905 shares in the company, valued at approximately $7,520,297.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,262 shares of company stock worth $3,371,231 in the last ninety days. 15.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Brady Stock Down 0.9 %

Shares of NYSE BRC opened at $71.14 on Friday. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 3.47 and a beta of 0.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.27 and a quick ratio of 1.69. The business has a 50-day moving average of $74.06 and a two-hundred day moving average of $68.60. Brady Co. has a 1 year low of $51.35 and a 1 year high of $76.97.

Brady (NYSE:BRC) last announced its quarterly earnings results on Friday, September 6th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The firm had revenue of $343.40 million during the quarter, compared to the consensus estimate of $351.74 million. Brady had a return on equity of 19.84% and a net margin of 14.70%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 earnings per share. On average, analysts forecast that Brady Co. will post 4.55 earnings per share for the current fiscal year.

Brady Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.35%. This is an increase from Brady’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, October 10th. Brady’s dividend payout ratio (DPR) is 23.59%.

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.