Martingale Asset Management L P Has $4.84 Million Stake in Brady Corp (BRC)

Martingale Asset Management L P lifted its holdings in shares of Brady Corp (NYSE:BRC) by 26.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,646 shares of the industrial products company’s stock after buying an additional 26,107 shares during the period. Martingale Asset Management L P’s holdings in Brady were worth $4,844,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prudential Financial Inc. increased its stake in Brady by 2.2% in the 1st quarter. Prudential Financial Inc. now owns 81,872 shares of the industrial products company’s stock valued at $3,042,000 after purchasing an additional 1,800 shares in the last quarter. American International Group Inc. increased its stake in Brady by 55.8% in the 1st quarter. American International Group Inc. now owns 57,844 shares of the industrial products company’s stock valued at $2,149,000 after purchasing an additional 20,709 shares in the last quarter. Swiss National Bank increased its stake in Brady by 3.7% in the 1st quarter. Swiss National Bank now owns 83,200 shares of the industrial products company’s stock valued at $3,091,000 after purchasing an additional 3,000 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Brady by 9.5% in the 1st quarter. Thrivent Financial for Lutherans now owns 32,469 shares of the industrial products company’s stock valued at $1,206,000 after purchasing an additional 2,825 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Brady by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 399,529 shares of the industrial products company’s stock valued at $14,843,000 after purchasing an additional 10,963 shares in the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

NYSE BRC opened at $39.70 on Monday. The company has a quick ratio of 1.71, a current ratio of 2.34 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2.05 billion, a P/E ratio of 22.69, a PEG ratio of 2.45 and a beta of 1.09. Brady Corp has a 1-year low of $32.70 and a 1-year high of $40.90.

Several research firms recently weighed in on BRC. Zacks Investment Research raised Brady from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Monday, May 21st. Bank of America downgraded Brady from a “buy” rating to an “underperform” rating and set a $40.00 price objective for the company. in a research note on Monday, July 16th.

In other Brady news, Director Frank W. Harris sold 2,000 shares of the firm’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $39.94, for a total transaction of $79,880.00. Following the completion of the transaction, the director now owns 26,690 shares of the company’s stock, valued at $1,065,998.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Bentley Curran sold 13,790 shares of the firm’s stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of $39.61, for a total value of $546,221.90. Following the transaction, the vice president now directly owns 41,189 shares of the company’s stock, valued at approximately $1,631,496.29. The disclosure for this sale can be found here. Insiders have sold 28,457 shares of company stock valued at $1,139,225 in the last three months. 15.60% of the stock is currently owned by company insiders.

About Brady

Brady Corporation manufactures and supplies identification solutions (IDS) and workplace safety (WPS) products to identify and protect premises, products, and people in the United States and internationally. The IDS segment offers safety signs, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials and printing systems for product identification, brand protection labeling, work in process labeling, and finished product identification; and hand-held printers, wire markers, sleeves, and tags for wire identification, as well as software and services for safety compliance auditing, procedure writing, and training.

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Institutional Ownership by Quarter for Brady (NYSE:BRC)

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