Brady Corp. (BRC) Shares Sold by First Citizens Bank & Trust Co.
First Citizens Bank & Trust Co. lowered its position in Brady Corp. (NYSE:BRC) by 6.5% during the second quarter, Holdings Channel reports. The fund owned 18,057 shares of the company’s stock after selling 1,254 shares during the period. First Citizens Bank & Trust Co.’s holdings in Brady Corp. were worth $552,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. LS Investment Advisors LLC raised its stake in shares of Brady Corp. by 1.0% in the second quarter. LS Investment Advisors LLC now owns 7,741 shares of the company’s stock worth $237,000 after buying an additional 73 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Brady Corp. by 0.8% in the second quarter. Nisa Investment Advisors LLC now owns 38,700 shares of the company’s stock worth $1,183,000 after buying an additional 300 shares during the last quarter. Capstone Asset Management Co. raised its stake in shares of Brady Corp. by 2.8% in the second quarter. Capstone Asset Management Co. now owns 13,929 shares of the company’s stock worth $426,000 after buying an additional 380 shares during the last quarter. Teachers Advisors Inc. raised its stake in shares of Brady Corp. by 2.4% in the first quarter. Teachers Advisors Inc. now owns 74,390 shares of the company’s stock worth $1,997,000 after buying an additional 1,751 shares during the last quarter. Finally, Springbok Capital Management LLC raised its stake in shares of Brady Corp. by 37.1% in the first quarter. Springbok Capital Management LLC now owns 8,364 shares of the company’s stock worth $224,000 after buying an additional 2,264 shares during the last quarter. Institutional investors and hedge funds own 75.37% of the company’s stock.
Shares of Brady Corp. (NYSE:BRC) traded up 0.26% during midday trading on Friday, reaching $34.13. 123,470 shares of the company’s stock traded hands. The firm has a market cap of $1.72 billion, a PE ratio of 21.63 and a beta of 1.17. Brady Corp. has a 52-week low of $20.35 and a 52-week high of $36.12. The company has a 50 day moving average of $34.40 and a 200 day moving average of $31.13.
Brady Corp. (NYSE:BRC) last posted its earnings results on Friday, September 9th. The company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.12. Brady Corp. had a net margin of 7.15% and a return on equity of 13.73%. The firm had revenue of $282.10 million for the quarter. During the same period in the previous year, the firm earned $0.28 earnings per share. The company’s revenue was down 2.3% compared to the same quarter last year. On average, equities analysts predict that Brady Corp. will post $1.70 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Tuesday, October 11th will be paid a $0.205 dividend. This is a positive change from Brady Corp.’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Thursday, October 6th. Brady Corp.’s dividend payout ratio is currently 51.90%.
A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Brady Corp. from a “sell” rating to a “hold” rating in a report on Thursday, August 11th. Robert W. Baird lifted their price target on shares of Brady Corp. from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, September 12th. Finally, SunTrust Banks Inc. upgraded shares of Brady Corp. from a “reduce” rating to a “neutral” rating and lifted their price target for the company from $24.00 to $34.00 in a research note on Tuesday, September 13th. One analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Brady Corp. currently has a consensus rating of “Hold” and an average price target of $48.60.
In related news, VP Bentley Curran sold 6,378 shares of the stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $34.71, for a total transaction of $221,380.38. Following the transaction, the vice president now directly owns 36,459 shares of the company’s stock, valued at $1,265,491.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas J. Felmer sold 13,431 shares of the stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $35.21, for a total transaction of $472,905.51. Following the transaction, the vice president now directly owns 74,927 shares in the company, valued at $2,638,179.67. The disclosure for this sale can be found here. 15.60% of the stock is currently owned by insiders.
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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