Nordea Investment Management AB Raises Position in Brady Co. (NYSE:BRC)

Nordea Investment Management AB grew its stake in shares of Brady Co. (NYSE:BRC) by 18.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 94,174 shares of the industrial products company’s stock after purchasing an additional 14,702 shares during the quarter. Nordea Investment Management AB’s holdings in Brady were worth $6,945,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 DIFC Ltd increased its stake in shares of Brady by 161.4% in the third quarter. Point72 DIFC Ltd now owns 651 shares of the industrial products company’s stock worth $50,000 after buying an additional 402 shares during the period. Quarry LP boosted its holdings in Brady by 36.1% in the second quarter. Quarry LP now owns 962 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 255 shares in the last quarter. Quest Partners LLC bought a new position in Brady in the 2nd quarter worth $119,000. GAMMA Investing LLC lifted its position in shares of Brady by 91.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,754 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 836 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Brady by 10,983.3% during the third quarter. Farther Finance Advisors LLC now owns 1,995 shares of the industrial products company’s stock valued at $153,000 after buying an additional 1,977 shares during the period. Institutional investors own 76.28% of the company’s stock.

Wall Street Analyst Weigh In

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

Brady Stock Up 0.8 %

Shares of Brady stock opened at $73.69 on Friday. Brady Co. has a 1 year low of $56.09 and a 1 year high of $77.68. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.84 and a quick ratio of 1.25. The company has a 50-day moving average of $74.39 and a 200 day moving average of $72.56. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 18.11 and a beta of 0.77.

Brady (NYSE:BRC) last released its earnings results 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. 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 period last year, the business earned $1.00 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Brady Co. will post 4.55 earnings per share for the current fiscal year.

Brady Announces Dividend

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 of this dividend is Friday, January 10th. Brady’s dividend payout ratio is presently 23.59%.

Brady Company 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.