North Star Asset Management Inc. Acquires Shares of 7,200 Brady Corporation $BRC

North Star Asset Management Inc. bought a new stake in shares of Brady Corporation (NYSE:BRC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,200 shares of the industrial products company’s stock, valued at approximately $659,000.

A number of other hedge funds also recently made changes to their positions in the business. First Trust Advisors LP grew its position in Brady by 2.9% during the first quarter. First Trust Advisors LP now owns 1,668,027 shares of the industrial products company’s stock valued at $135,511,000 after buying an additional 47,096 shares during the period. State Street Corp raised its position in Brady by 1.7% in the fourth quarter. State Street Corp now owns 1,524,384 shares of the industrial products company’s stock worth $119,466,000 after acquiring an additional 26,151 shares during the period. Dimensional Fund Advisors LP boosted its stake in Brady by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,461,632 shares of the industrial products company’s stock valued at $114,551,000 after acquiring an additional 8,125 shares during the last quarter. Franklin Resources Inc. boosted its stake in Brady by 267.8% in the fourth quarter. Franklin Resources Inc. now owns 1,188,189 shares of the industrial products company’s stock valued at $93,118,000 after acquiring an additional 865,131 shares during the last quarter. Finally, Royce & Associates LP grew its position in shares of Brady by 9.8% during the 4th quarter. Royce & Associates LP now owns 740,635 shares of the industrial products company’s stock valued at $58,044,000 after acquiring an additional 66,387 shares during the period. 76.28% of the stock is currently owned by institutional investors.

Brady Price Performance

Brady stock opened at $93.28 on Friday. The firm has a market capitalization of $4.39 billion, a P/E ratio of 21.25 and a beta of 0.61. Brady Corporation has a one year low of $70.57 and a one year high of $99.29. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.01 and a quick ratio of 1.36. The business has a fifty day moving average price of $92.95 and a 200-day moving average price of $87.81.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BRC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Brady in a report on Friday, August 7th. Wall Street Zen raised Brady from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Finally, Sidoti raised Brady from a “neutral” rating to a “buy” rating and set a $103.00 target price for the company in a research report on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Brady currently has an average rating of “Buy” and an average price target of $103.00.

Insider Buying and Selling at Brady

In related news, CEO Vineet A. Nargolwala purchased 13,011 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were purchased at an average cost of $76.86 per share, for a total transaction of $1,000,025.46. Following the completion of the transaction, the chief executive officer directly owned 52,709 shares in the company, valued at approximately $4,051,213.74. This represents a 32.77% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 15.60% of the stock is currently owned by corporate insiders.

Brady Profile

Brady Corporation is a global provider of identification and safety solutions, specializing in the design, manufacture and sale of products that help businesses improve safety, security and efficiency. The company offers an array of durable labels, signs, safety devices, printing systems and software platforms tailored to a wide range of industrial and commercial environments.

Founded in 1914 by William H. Brady, Brady Corporation has grown from a regional marker manufacturer into a diversified global enterprise.