Xact Kapitalforvaltning AB reduced its holdings in shares of Brady Corp (NYSE:BRC) by 25.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 9,709 shares of the industrial products company’s stock after selling 3,300 shares during the period. Xact Kapitalforvaltning AB’s holdings in Brady were worth $451,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in BRC. Norges Bank purchased a new position in shares of Brady during the 4th quarter valued at approximately $43,189,000. Robeco Institutional Asset Management B.V. raised its position in shares of Brady by 1,718.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 539,537 shares of the industrial products company’s stock valued at $25,040,000 after acquiring an additional 509,867 shares in the last quarter. BlackRock Inc. raised its position in shares of Brady by 3.0% during the 4th quarter. BlackRock Inc. now owns 7,074,270 shares of the industrial products company’s stock valued at $307,446,000 after acquiring an additional 208,942 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Brady by 150.7% during the 4th quarter. Acadian Asset Management LLC now owns 202,261 shares of the industrial products company’s stock valued at $8,788,000 after acquiring an additional 121,595 shares in the last quarter. Finally, TD Asset Management Inc. raised its position in shares of Brady by 48.3% during the 1st quarter. TD Asset Management Inc. now owns 280,908 shares of the industrial products company’s stock valued at $13,037,000 after acquiring an additional 91,530 shares in the last quarter. Institutional investors own 80.64% of the company’s stock.
In other Brady news, SVP Louis T. Bolognini sold 7,424 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $47.75, for a total value of $354,496.00. Following the sale, the senior vice president now directly owns 34,264 shares of the company’s stock, valued at $1,636,106. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO J Michael Nauman sold 20,488 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $48.14, for a total value of $986,292.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,081 shares of company stock worth $2,632,191. Corporate insiders own 15.60% of the company’s stock.
Brady (NYSE:BRC) last posted its quarterly earnings results on Thursday, May 23rd. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.09. The business had revenue of $289.75 million for the quarter, compared to analyst estimates of $292.66 million. Brady had a return on equity of 15.85% and a net margin of 11.15%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 EPS. On average, research analysts forecast that Brady Corp will post 2.4 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be given a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Tuesday, July 9th. Brady’s dividend payout ratio is currently 41.67%.
BRC has been the topic of several research reports. Zacks Investment Research raised Brady from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Thursday, February 14th. ValuEngine lowered Brady from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $46.00.
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.
Recommended Story: What is systematic risk?
Want to see what other hedge funds are holding BRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brady Corp (NYSE:BRC).
Receive News & Ratings for Brady Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brady and related companies with MarketBeat.com's FREE daily email newsletter.