Brady Corporation $BRC Position Lifted by Hiddenite Capital Partners LP

Hiddenite Capital Partners LP raised its position in shares of Brady Corporation (NYSE:BRC) by 35.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 151,935 shares of the industrial products company’s stock after acquiring an additional 40,000 shares during the period. Brady makes up 2.3% of Hiddenite Capital Partners LP’s portfolio, making the stock its 14th biggest position. Hiddenite Capital Partners LP’s holdings in Brady were worth $12,685,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Brady in the 3rd quarter valued at about $281,000. ProShare Advisors LLC purchased a new stake in shares of Brady during the 3rd quarter worth about $8,838,000. Vise Technologies Inc. grew its holdings in shares of Brady by 8.0% during the 3rd quarter. Vise Technologies Inc. now owns 9,008 shares of the industrial products company’s stock worth $752,000 after purchasing an additional 668 shares during the period. State of Wyoming increased its position in Brady by 254.8% during the 3rd quarter. State of Wyoming now owns 5,592 shares of the industrial products company’s stock worth $467,000 after purchasing an additional 4,016 shares in the last quarter. Finally, Signaturefd LLC increased its position in Brady by 133.7% during the 3rd quarter. Signaturefd LLC now owns 652 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 373 shares in the last quarter. 76.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Brady news, COO Thomas DeBruine sold 5,739 shares of the company’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $84.00, for a total value of $482,076.00. Following the completion of the transaction, the chief operating officer owned 7,523 shares in the company, valued at $631,932. This represents a 43.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 15.60% of the company’s stock.

Brady Trading Up 2.5%

NYSE:BRC opened at $84.82 on Tuesday. The business’s 50-day moving average is $85.74 and its two-hundred day moving average is $87.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.94 and a quick ratio of 1.30. Brady Corporation has a 12 month low of $70.57 and a 12 month high of $99.29. The firm has a market capitalization of $3.98 billion, a PE ratio of 19.68 and a beta of 0.61.

Brady (NYSE:BRC) last issued its quarterly earnings data on Thursday, September 3rd. The industrial products company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.01. Brady had a return on equity of 19.21% and a net margin of 12.36%. The company had revenue of $436.90 million for the quarter, compared to analysts’ expectations of $427.91 million. During the same quarter in the previous year, the firm posted $1.04 earnings per share. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. Brady has set its FY 2027 guidance at 6.250-6.750 EPS. Research analysts predict that Brady Corporation will post 6.50 earnings per share for the current fiscal year.

Brady Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Friday, October 9th were given a dividend of $0.25 per share. This is a boost from Brady’s previous quarterly dividend of $0.2450. The ex-dividend date of this dividend was Friday, October 9th. This represents a $1.00 annualized dividend and a yield of 1.2%. Brady’s dividend payout ratio is presently 23.20%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of Brady from a “hold” rating to a “buy” rating in a report on Sunday, October 4th. Weiss Ratings downgraded shares of Brady from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. Two equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $103.00.

Brady Company Profile

Brady Corporation (NYSE:BRC) is a global manufacturer of identification and workplace safety solutions. Founded in 1914 as W.H. Brady Co in Milwaukee, Wisconsin, the company develops products that help organizations identify equipment, manage facilities, improve workplace safety and comply with operational requirements.

Its products include industrial and facility identification labels, signs, tags, safety and lockout products, wire and cable markers, barcode and RFID solutions, printers, software and specialty materials.