Beck Mack & Oliver LLC continued to hold its stake in shares of Brady Corp. (NYSE:BRC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,600 shares of the company’s stock at the end of the second quarter. Beck Mack & Oliver LLC’s holdings in Brady Corp. were worth $660,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. raised its stake in Brady Corp. by 1.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,184,826 shares of the company’s stock valued at $31,801,000 after buying an additional 21,377 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Brady Corp. by 0.8% in the second quarter. Nisa Investment Advisors LLC now owns 38,700 shares of the company’s stock valued at $1,183,000 after buying an additional 300 shares during the last quarter. UBS Group AG raised its stake in Brady Corp. by 139.4% in the first quarter. UBS Group AG now owns 22,580 shares of the company’s stock valued at $606,000 after buying an additional 13,150 shares during the last quarter. Springbok Capital Management LLC raised its stake in Brady Corp. by 37.1% in the first quarter. Springbok Capital Management LLC now owns 8,364 shares of the company’s stock valued at $224,000 after buying an additional 2,264 shares during the last quarter. Finally, HBK Investments L P acquired a new stake in Brady Corp. during the first quarter valued at $650,000. Institutional investors and hedge funds own 75.36% of the company’s stock.
Brady Corp. (NYSE:BRC) traded down 0.23% during midday trading on Monday, reaching $34.05. 36,588 shares of the company traded hands. The company has a 50-day moving average price of $34.40 and a 200-day moving average price of $31.13. Brady Corp. has a 12-month low of $20.35 and a 12-month high of $36.12. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 21.58 and a beta of 1.17.
Brady Corp. (NYSE:BRC) last posted its quarterly earnings data on Friday, September 9th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. Brady Corp. had a return on equity of 13.73% and a net margin of 7.15%. The company earned $282.10 million during the quarter. During the same period in the prior year, the company posted $0.28 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. On average, analysts predict that Brady Corp. will post $1.70 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Tuesday, October 11th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 2.40%. This is a boost from Brady Corp.’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, October 6th. Brady Corp.’s dividend payout ratio is currently 51.90%.
Several research firms have recently commented on BRC. Zacks Investment Research upgraded shares of Brady Corp. from a “hold” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research report on Tuesday, September 27th. SunTrust Banks Inc. upgraded shares of Brady Corp. from a “reduce” rating to a “neutral” rating and upped their price target for the stock from $24.00 to $34.00 in a research report on Tuesday, September 13th. Finally, Robert W. Baird upped their price target on shares of Brady Corp. from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $48.60.
In related news, VP Thomas J. Felmer sold 13,431 shares of the firm’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $35.21, for a total value of $472,905.51. Following the completion of the transaction, the vice president now directly owns 74,927 shares of the company’s stock, valued at $2,638,179.67. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas J. Felmer sold 3,395 shares of the firm’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $35.01, for a total value of $118,858.95. Following the completion of the transaction, the vice president now directly owns 76,753 shares of the company’s stock, valued at $2,687,122.53. The disclosure for this sale can be found here. 15.60% of the stock is owned by insiders.
About Brady Corp.
Brady Corporation is a manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people. The Company has two segments: Identification Solutions (IDS) and Workplace Safety (WPS). The IDS segment includes identification and healthcare products that are manufactured under various brands, including the Brady brand, and are primarily sold through distribution to a range of maintenance, repair and operations (MRO) and original equipment manufacturing (OEM) customers, and through other channels, including direct sales, catalog marketing and digital.