Brady Co. (NYSE:BRC) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its position in Brady Co. (NYSE:BRC) by 6.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 11,379 shares of the industrial products company’s stock after selling 734 shares during the period. Amalgamated Bank’s holdings in Brady were worth $872,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BRC. 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 valued at $44,000 after buying an additional 262 shares in the last quarter. GAMMA Investing LLC grew its stake in Brady by 337.1% in 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 in the last quarter. Quarry LP lifted its position in shares of Brady by 36.1% in the 2nd quarter. Quarry LP now owns 962 shares of the industrial products company’s stock worth $64,000 after buying an additional 255 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Brady in the first quarter valued at $66,000. Finally, Quest Partners LLC acquired a new stake in Brady in the 2nd quarter valued at approximately $119,000. 76.28% of the stock is currently owned by hedge funds and other institutional investors.

Brady Stock Performance

Shares of NYSE BRC opened at $74.67 on Friday. The company has a market capitalization of $3.55 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 3.53 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. Brady Co. has a one year low of $52.68 and a one year high of $77.68. The business’s 50-day moving average price is $74.32 and its two-hundred day moving average price is $69.72.

Brady (NYSE:BRC) last announced its earnings results on Friday, September 6th. The industrial products company reported $1.19 earnings per share for the quarter, beating the consensus estimate 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 revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.04 EPS. Analysts anticipate that Brady Co. will post 4.55 earnings per share for the current fiscal year.

Brady Increases Dividend

The company 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 is a boost from Brady’s previous quarterly dividend of $0.24. This represents a $0.96 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, October 10th. Brady’s dividend payout ratio (DPR) is 23.59%.

Insider Activity

In related news, CEO Russell Shaller sold 12,547 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 102,905 shares of the company’s stock, valued at $7,520,297.40. This trade represents a 10.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Thomas F. Debruine sold 2,851 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $75.77, for a total transaction of $216,020.27. Following the transaction, the chief operating officer now owns 9,727 shares in the company, valued at approximately $737,014.79. This trade represents a 22.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,262 shares of company stock worth $3,371,231. Corporate insiders own 15.60% of the company’s stock.

Analyst Ratings Changes

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