Bank of America Corp DE Buys 37,589 Shares of Brady Corporation (NYSE:BRC)
Bank of America Corp DE increased its stake in Brady Corporation (NYSE:BRC) by 83.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,554 shares of the industrial products company’s stock after buying an additional 37,589 shares during the period. Bank of America Corp DE’s holdings in Brady Corporation were worth $3,191,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Comerica Bank increased its stake in shares of Brady Corporation by 4.9% in the first quarter. Comerica Bank now owns 52,712 shares of the industrial products company’s stock valued at $2,095,000 after buying an additional 2,447 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Brady Corporation by 2.7% in the first quarter. BNP Paribas Arbitrage SA now owns 10,798 shares of the industrial products company’s stock valued at $417,000 after buying an additional 281 shares during the period. Suntrust Banks Inc. increased its stake in shares of Brady Corporation by 1.6% in the first quarter. Suntrust Banks Inc. now owns 7,933 shares of the industrial products company’s stock valued at $306,000 after buying an additional 128 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Brady Corporation by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 767,217 shares of the industrial products company’s stock valued at $29,652,000 after buying an additional 27,169 shares during the period. Finally, Advisors Asset Management Inc. bought a new stake in shares of Brady Corporation during the first quarter valued at about $322,000. 75.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of Brady Corporation (BRC) traded down 0.45% during mid-day trading on Monday, reaching $33.05. The company’s stock had a trading volume of 4,879 shares. Brady Corporation has a 12 month low of $31.66 and a 12 month high of $40.50. The firm has a market capitalization of $1.70 billion, a P/E ratio of 17.86 and a beta of 1.12. The company has a 50 day moving average of $34.08 and a 200-day moving average of $36.89.
Brady Corporation (NYSE:BRC) last released its quarterly earnings data on Thursday, May 25th. The industrial products company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. Brady Corporation had a return on equity of 14.44% and a net margin of 8.64%. The company had revenue of $275.90 million for the quarter, compared to analyst estimates of $279.39 million. During the same period in the prior year, the company posted $0.42 EPS. The company’s revenue was down 3.8% compared to the same quarter last year. Equities research analysts forecast that Brady Corporation will post $1.81 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Monday, July 10th were paid a $0.205 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $0.82 annualized dividend and a dividend yield of 2.47%. Brady Corporation’s dividend payout ratio is currently 44.32%.
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Several brokerages recently issued reports on BRC. Zacks Investment Research downgraded Brady Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. BidaskClub downgraded Brady Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $38.75.
Brady Corporation 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, and the WPS segment includes workplace safety and compliance products.
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