Mutual of America Capital Management LLC Cuts Position in Brady Co. (NYSE:BRC)

Mutual of America Capital Management LLC decreased its holdings in Brady Co. (NYSE:BRC) by 10.2% in the third quarter, HoldingsChannel.com reports. The firm owned 6,609 shares of the industrial products company’s stock after selling 754 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Brady were worth $506,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BRC. Swedbank AB acquired a new position in shares of Brady during the first quarter valued at approximately $13,439,000. Assenagon Asset Management S.A. boosted 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 worth $20,459,000 after acquiring an additional 157,149 shares during the last quarter. Royce & Associates LP increased its position in shares of Brady by 27.1% during the third quarter. Royce & Associates LP now owns 555,792 shares of the industrial products company’s stock worth $42,590,000 after purchasing an additional 118,557 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Brady by 23.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 560,274 shares of the industrial products company’s stock valued at $36,631,000 after purchasing an additional 106,652 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings 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 valued at $8,716,000 after purchasing an additional 92,228 shares in the last quarter. Hedge funds and other institutional investors own 76.28% of the company’s stock.

Analyst Ratings Changes

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

Brady Stock Down 0.7 %

Shares of BRC opened at $74.98 on Wednesday. The company’s 50-day moving average price is $74.17 and its 200 day moving average price is $70.45. Brady Co. has a 12-month low of $52.99 and a 12-month high of $77.68. The company has a current ratio of 1.84, a quick ratio of 1.25 and a debt-to-equity ratio of 0.11. The firm has a market cap of $3.58 billion, a P/E ratio of 18.48 and a beta of 0.76.

Brady (NYSE:BRC) last posted its quarterly earnings data on Monday, November 18th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.02. The firm had revenue of $377.10 million for the quarter, compared to the consensus estimate of $365.88 million. Brady had a return on equity of 19.79% and a net margin of 14.19%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 EPS. On average, sell-side analysts forecast that Brady Co. will post 4.55 earnings per share for the current 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 paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.28%. This is a positive change from Brady’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, October 10th. Brady’s dividend payout ratio is presently 23.59%.

Insider Activity at Brady

In other news, COO Thomas F. Debruine sold 2,851 shares of the firm’s 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 transaction, the chief operating officer now directly owns 9,727 shares in the company, valued at approximately $737,014.79. This trade represents a 22.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Russell Shaller sold 12,547 shares of the business’s stock in a transaction dated 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 $7,520,297.40. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,262 shares of company stock valued at $3,371,231 over the last 90 days. 15.60% of the stock is owned by corporate 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.