Brady Corp. (BRC) Hits New 52-Week High at $33.62
Brady Corp. (NYSE:BRC)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $33.62 and last traded at $33.43, with a volume of 46,962 shares changing hands. The stock had previously closed at $33.19.
Separately, Zacks Investment Research lowered shares of Brady Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Brady Corp. presently has an average rating of “Hold” and an average target price of $43.60.
The firm has a market cap of $1.68 billion and a PE ratio of 109.48. The stock’s 50 day moving average is $32.12 and its 200 day moving average is $28.91.
In related news, VP Paul Meyer sold 9,851 shares of the business’s stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $32.42, for a total value of $319,369.42. Following the completion of the transaction, the vice president now owns 3,356 shares of the company’s stock, valued at $108,801.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Frank W. Harris sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $31.86, for a total value of $95,580.00. Following the completion of the transaction, the director now directly owns 30,304 shares of the company’s stock, valued at approximately $965,485.44. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Brady Corp. stock. New York State Common Retirement Fund increased its position in shares of Brady Corp. (NYSE:BRC) by 25.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,753 shares of the company’s stock after buying an additional 22,708 shares during the period. New York State Common Retirement Fund owned about 0.22% of Brady Corp. worth $2,591,000 as of its most recent SEC filing.
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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