Brady Corp (BRC) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its holdings in shares of Brady Corp (NYSE:BRC) by 9.8% in the third quarter, Holdings Channel reports. The fund owned 74,347 shares of the industrial products company’s stock after selling 8,033 shares during the period. California State Teachers Retirement System’s holdings in Brady were worth $2,821,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its position in Brady by 4.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 321,156 shares of the industrial products company’s stock worth $10,888,000 after buying an additional 13,013 shares during the last quarter. SG Americas Securities LLC bought a new stake in Brady in the 2nd quarter worth approximately $118,000. Legal & General Group Plc lifted its position in Brady by 8.7% in the 2nd quarter. Legal & General Group Plc now owns 93,071 shares of the industrial products company’s stock worth $3,156,000 after buying an additional 7,427 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Brady by 0.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 43,814 shares of the industrial products company’s stock worth $1,485,000 after buying an additional 138 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Brady by 8.1% in the 2nd quarter. Victory Capital Management Inc. now owns 18,739 shares of the industrial products company’s stock worth $635,000 after buying an additional 1,401 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Shares of Brady Corp (NYSE BRC) opened at $39.05 on Friday. The firm has a market capitalization of $1,970.00, a P/E ratio of 20.77, a P/E/G ratio of 2.67 and a beta of 1.19. Brady Corp has a 12-month low of $31.70 and a 12-month high of $40.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.19 and a quick ratio of 1.62.

Brady (NYSE:BRC) last announced its quarterly earnings data on Thursday, November 16th. The industrial products company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Brady had a return on equity of 13.90% and a net margin of 8.81%. The firm had revenue of $290.15 million during the quarter, compared to the consensus estimate of $286.75 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. analysts expect that Brady Corp will post 1.93 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 10th will be given a $0.2075 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $0.83 annualized dividend and a yield of 2.13%. Brady’s payout ratio is currently 44.15%.

In other Brady news, Director Bradley C. Richardson sold 1,400 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $39.15, for a total value of $54,810.00. Following the completion of the sale, the director now owns 2,511 shares in the company, valued at $98,305.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas J. Felmer sold 3,980 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $39.51, for a total value of $157,249.80. The disclosure for this sale can be found here. Insiders sold 18,029 shares of company stock valued at $706,748 in the last quarter. Corporate insiders own 15.60% of the company’s stock.

A number of analysts recently weighed in on the company. Bank of America boosted their target price on Brady from $34.00 to $35.00 and gave the stock an “underperform” rating in a research report on Friday, November 17th. Zacks Investment Research downgraded Brady from a “buy” rating to a “hold” rating in a research report on Tuesday, November 21st. SunTrust Banks restated a “hold” rating and issued a $39.00 target price on shares of Brady in a research report on Friday, November 17th. Finally, Robert W. Baird restated a “hold” rating and issued a $36.00 target price on shares of Brady in a research report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $41.00.

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

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