Geode Capital Management LLC Increases Position in Brady Co. (NYSE:BRC)

Geode Capital Management LLC lifted its holdings in shares of Brady Co. (NYSE:BRC) by 7.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 658,093 shares of the industrial products company’s stock after acquiring an additional 45,206 shares during the quarter. Geode Capital Management LLC’s holdings in Brady were worth $50,445,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Raymond James & Associates increased its position in shares of Brady by 0.3% during the 2nd quarter. Raymond James & Associates now owns 46,010 shares of the industrial products company’s stock valued at $3,038,000 after purchasing an additional 144 shares during the last quarter. Creative Planning increased its holdings in 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 during the last quarter. Stifel Financial Corp raised its position in Brady by 0.4% in the third quarter. Stifel Financial Corp now owns 54,396 shares of the industrial products company’s stock worth $4,168,000 after acquiring an additional 197 shares during the period. Glenmede Trust Co. NA boosted its stake in Brady by 5.6% in the third quarter. Glenmede Trust Co. NA now owns 3,755 shares of the industrial products company’s stock valued at $288,000 after acquiring an additional 198 shares during the last quarter. Finally, Arizona State Retirement System grew its position in shares of Brady by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 12,540 shares of the industrial products company’s stock valued at $828,000 after acquiring an additional 230 shares during the period. 76.28% of the stock is currently owned by institutional investors.

Insider Activity at Brady

In other Brady news, COO Thomas F. Debruine sold 2,851 shares of the firm’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 9,727 shares of the company’s stock, valued at $737,014.79. This trade represents a 22.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Russell Shaller sold 21,128 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 102,150 shares in the company, valued at approximately $7,691,895. The trade was a 17.14 % decrease in their position. The disclosure for this sale can be found here. 15.60% of the stock is currently owned by corporate insiders.

Brady Stock Down 1.9 %

Shares of NYSE BRC opened at $74.13 on Monday. The business’s fifty day moving average price is $74.31 and its 200-day moving average price is $71.84. Brady Co. has a one year low of $56.09 and a one year high of $77.68. The stock has a market capitalization of $3.54 billion, a PE ratio of 18.21 and a beta of 0.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.84 and a quick ratio of 1.25.

Brady (NYSE:BRC) last issued its earnings results on Monday, November 18th. The industrial products company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. Brady had a net margin of 14.19% and a return on equity of 19.79%. The firm had revenue of $377.10 million during the quarter, compared to analyst estimates of $365.88 million. During the same quarter last year, the business earned $1.00 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. On average, equities research analysts anticipate that Brady Co. will post 4.55 EPS for the current year.

Brady Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, January 10th. Brady’s dividend payout ratio (DPR) is presently 23.59%.

Analyst Ratings Changes

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

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.