Spark Investment Management LLC purchased a new stake in shares of Brady Corporation (NYSE:BRC) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 26,500 shares of the industrial products company’s stock, valued at approximately $898,000.

A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Brady Corporation by 84,523.4% in the first quarter. BlackRock Inc. now owns 5,658,766 shares of the industrial products company’s stock valued at $218,711,000 after buying an additional 5,652,079 shares during the period. Vanguard Group Inc. raised its stake in Brady Corporation by 14.3% in the first quarter. Vanguard Group Inc. now owns 5,320,613 shares of the industrial products company’s stock valued at $205,641,000 after buying an additional 666,642 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Brady Corporation by 7.3% in the first quarter. JPMorgan Chase & Co. now owns 3,283,858 shares of the industrial products company’s stock valued at $126,921,000 after buying an additional 224,330 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Brady Corporation by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,698,424 shares of the industrial products company’s stock valued at $65,643,000 after buying an additional 27,393 shares during the last quarter. Finally, State Street Corp raised its stake in Brady Corporation by 7.0% in the first quarter. State Street Corp now owns 1,121,048 shares of the industrial products company’s stock valued at $43,327,000 after buying an additional 73,113 shares during the last quarter. 75.61% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Brady Corporation (NYSE BRC) opened at 32.20 on Friday. The stock has a 50 day moving average of $33.50 and a 200 day moving average of $36.71. Brady Corporation has a 12-month low of $31.78 and a 12-month high of $40.50. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 17.41 and a beta of 1.12.

Brady Corporation (NYSE:BRC) last issued its quarterly earnings results on Thursday, May 25th. The industrial products company reported $0.43 EPS for the quarter, hitting the Zacks’ 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 analysts’ expectations of $279.39 million. During the same quarter last year, the business earned $0.42 earnings per share. Brady Corporation’s revenue was down 3.8% on a year-over-year basis. On average, equities analysts expect that Brady Corporation will post $1.81 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Monday, July 10th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Thursday, July 6th. Brady Corporation’s payout ratio is currently 44.32%.

TRADEMARK VIOLATION NOTICE: This piece was first published by Daily Political and is the sole property of of Daily Political. If you are reading this piece on another domain, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.dailypolitical.com/2017/08/11/spark-investment-management-llc-invests-898000-in-brady-corporation-nysebrc.html.

BRC has been the topic of several analyst reports. Zacks Investment Research lowered shares of Brady Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. BidaskClub lowered shares of Brady Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Brady Corporation currently has an average rating of “Hold” and a consensus target price of $38.75.

About Brady Corporation

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.

Want to see what other hedge funds are holding BRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brady Corporation (NYSE:BRC).

Institutional Ownership by Quarter for Brady Corporation (NYSE:BRC)

Receive News & Ratings for Brady Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brady Corporation and related companies with MarketBeat.com's FREE daily email newsletter.