Brady Corp. (BRC) Position Held by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can maintained its stake in shares of Brady Corp. (NYSE:BRC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,555 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Brady Corp. were worth $149,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the company. UBS Group AG raised its stake in shares of 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 period. Investec Asset Management LTD bought a new stake in shares of Brady Corp. during the first quarter valued at approximately $9,183,000. Acrospire Investment Management LLC bought a new stake in shares of Brady Corp. during the first quarter valued at approximately $253,000. 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 valued at $48,949,000 after buying an additional 440,268 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of 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 period. Institutional investors and hedge funds own 75.73% of the company’s stock.
Shares of Brady Corp. (NYSE:BRC) traded up 1.03% during midday trading on Thursday, hitting $35.36. 225,988 shares of the company traded hands. Brady Corp. has a 52 week low of $19.42 and a 52 week high of $36.12. The stock has a market capitalization of $1.79 billion, a P/E ratio of 22.41 and a beta of 1.12. The company has a 50-day moving average price of $33.28 and a 200-day moving average price of $30.25.
Brady Corp. (NYSE:BRC) last issued its quarterly earnings results on Friday, September 9th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.37 by $0.12. The company had revenue of $282.10 million for the quarter. Brady Corp. had a net margin of 7.15% and a return on equity of 13.73%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 earnings per share. Analysts anticipate that Brady Corp. will post $1.70 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Tuesday, October 11th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 2.32%. This is an increase from Brady Corp.’s previous quarterly dividend of $0.20. Brady Corp.’s dividend payout ratio is presently 51.27%.
Several analysts have commented on the stock. SunTrust Banks Inc. upgraded shares of Brady Corp. from a “reduce” rating to a “neutral” rating and raised their price objective for the stock from $24.00 to $34.00 in a report on Tuesday, September 13th. Robert W. Baird lifted their target price 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. Finally, Zacks Investment Research lowered shares of Brady Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Brady Corp. has a consensus rating of “Hold” and an average target price of $47.60.
Brady Corp. Company Profile
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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