Brady Co. (NYSE:BRC) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management cut its holdings in shares of Brady Co. (NYSE:BRC) by 22.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,034 shares of the industrial products company’s stock after selling 2,556 shares during the period. Ritholtz Wealth Management’s holdings in Brady were worth $692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Swedbank AB purchased a new position in shares of Brady during the 1st quarter valued at about $13,439,000. DekaBank Deutsche Girozentrale raised its position in Brady by 23.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 560,274 shares of the industrial products company’s stock valued at $36,631,000 after acquiring an additional 106,652 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in Brady by 21.1% in the first quarter. Lord Abbett & CO. LLC now owns 610,505 shares of the industrial products company’s stock valued at $36,190,000 after acquiring an additional 106,219 shares during the period. Thrivent Financial for Lutherans boosted its position in Brady by 231.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 132,019 shares of the industrial products company’s stock worth $8,716,000 after purchasing an additional 92,228 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Brady by 1,135.8% during the 2nd quarter. SG Americas Securities LLC now owns 65,211 shares of the industrial products company’s stock worth $4,305,000 after purchasing an additional 59,934 shares during the period. 76.28% of the stock is owned by hedge funds and other institutional investors.

Brady Price Performance

Shares of Brady stock opened at $74.95 on Wednesday. The firm has a market cap of $3.56 billion, a PE ratio of 19.12, a P/E/G ratio of 3.47 and a beta of 0.76. Brady Co. has a twelve month low of $51.35 and a twelve month high of $76.97. The company has a quick ratio of 1.69, a current ratio of 2.27 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $73.35 and a 200 day moving average price of $67.55.

Brady (NYSE:BRC) last posted its quarterly earnings data on Friday, September 6th. The industrial products company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. Brady had a return on equity of 19.84% and a net margin of 14.70%. The business had revenue of $343.40 million during the quarter, compared to analysts’ expectations of $351.74 million. During the same period in the previous year, the business earned $1.04 earnings per share. The business’s revenue was down .7% compared to the same quarter last year. Sell-side analysts predict 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 will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.28%. This is a boost from Brady’s previous quarterly dividend of $0.24. Brady’s payout ratio is currently 24.49%.

Insider Buying and Selling

In related news, 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, COO Thomas F. Debruine sold 2,851 shares of the stock in a transaction dated 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 in the company, valued at $737,014.79. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Russell Shaller sold 21,128 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $75.30, for a total transaction of $1,590,938.40. Following the transaction, the chief executive officer now owns 102,150 shares in the company, valued at $7,691,895. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,262 shares of company stock worth $3,371,231 in the last 90 days. Insiders own 15.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.