The Mason Street Advisors LLC Acquires New Position in Brady Corp. (BRC)

The Mason Street Advisors LLC Acquires New Position in Brady Corp. (BRC)

Mason Street Advisors LLC bought a new position in shares of Brady Corp. (NYSE:BRC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,133 shares of the company’s stock, valued at approximately $279,000.

Several other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Brady Corp. by 31.8% in the first quarter. JPMorgan Chase & Co. now owns 1,823,722 shares of the company’s stock worth $48,949,000 after buying an additional 440,268 shares in the last quarter. Investec Asset Management LTD purchased a new stake in shares of Brady Corp. during the first quarter worth about $9,183,000. Goldman Sachs Group Inc. raised its stake in shares of Brady Corp. by 1,653.2% in the first quarter. Goldman Sachs Group Inc. now owns 356,721 shares of the company’s stock worth $9,574,000 after buying an additional 336,374 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Brady Corp. by 7.9% in the second quarter. Vanguard Group Inc. now owns 3,940,176 shares of the company’s stock worth $120,411,000 after buying an additional 287,649 shares in the last quarter. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of Brady Corp. during the second quarter worth about $6,805,000. Institutional investors and hedge funds own 75.37% of the company’s stock.

Brady Corp. (NYSE:BRC) opened at 34.50 on Friday. Brady Corp. has a 52 week low of $20.35 and a 52 week high of $36.12. The firm’s 50-day moving average is $34.21 and its 200 day moving average is $30.89. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 21.86 and a beta of 1.17.

Brady Corp. (NYSE:BRC) last released its quarterly earnings results on Friday, September 9th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.12. The business earned $282.10 million during the quarter. Brady Corp. had a return on equity of 13.73% and a net margin of 7.15%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. On average, equities research analysts expect that Brady Corp. will post $1.70 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Tuesday, October 11th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Thursday, October 6th. This is an increase from Brady Corp.’s previous quarterly dividend of $0.20. Brady Corp.’s payout ratio is 51.90%.

A number of equities research analysts recently issued reports on BRC shares. Zacks Investment Research lowered shares of Brady Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 20th. SunTrust Banks Inc. raised shares of Brady Corp. from a “reduce” rating to a “neutral” rating and upped their price objective for the company from $24.00 to $34.00 in a report on Tuesday, September 13th. Finally, Robert W. Baird upped their price objective on shares of Brady Corp. from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, September 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.60.

In other news, VP Bentley Curran sold 6,378 shares of Brady Corp. stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $34.71, for a total transaction of $221,380.38. Following the completion of the transaction, the vice president now owns 36,459 shares of the company’s stock, valued at approximately $1,265,491.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas J. Felmer sold 13,431 shares of Brady Corp. 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 transaction, the vice president now directly owns 74,927 shares of the company’s stock, valued at approximately $2,638,179.67. The disclosure for this sale can be found here. Insiders own 15.60% of the company’s stock.

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.

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