Olstein Capital Management L.P. Has $1.06 Million Stock Position in Brady Co. (NYSE:BRC)

Olstein Capital Management L.P. lessened its stake in Brady Co. (NYSE:BRC) by 16.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,000 shares of the industrial products company’s stock after selling 3,000 shares during the quarter. Olstein Capital Management L.P.’s holdings in Brady were worth $1,060,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BRC. Smartleaf Asset Management LLC raised its position in Brady by 213.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 461 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 314 shares in the last quarter. Principal Securities Inc. increased its stake in shares of Brady by 378.1% during the 4th quarter. Principal Securities Inc. now owns 655 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 518 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Brady by 19.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 893 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 143 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in Brady in the 4th quarter valued at about $96,000. Finally, New Age Alpha Advisors LLC acquired a new stake in Brady in the 4th quarter valued at about $156,000. 76.28% of the stock is owned by institutional investors.

Brady Stock Performance

Shares of BRC stock opened at $69.92 on Monday. Brady Co. has a 52 week low of $62.70 and a 52 week high of $77.68. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 17.18 and a beta of 0.80. The company has a 50-day simple moving average of $69.77 and a 200 day simple moving average of $72.13. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.25 and a current ratio of 1.84.

Brady (NYSE:BRC) last posted its earnings results on Friday, May 16th. The industrial products company reported $1.22 EPS for the quarter, meeting the consensus estimate of $1.22. The company had revenue of $382.59 million for the quarter, compared to the consensus estimate of $386.61 million. Brady had a return on equity of 19.79% and a net margin of 14.19%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 earnings per share. On average, sell-side analysts predict that Brady Co. will post 4.55 earnings per share for the current year.

Brady Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, July 10th. Brady’s dividend payout ratio is currently 23.76%.

Analyst Ratings Changes

Several analysts have issued reports on BRC shares. Sidoti upgraded Brady to a “strong-buy” rating in a research note on Monday, May 19th. Wall Street Zen downgraded Brady from a “buy” rating to a “hold” rating in a report on Friday.

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 company offers materials, printing systems, RFID, and bar code scanners for product identification, brand protection labeling, work in process labeling, finished product identification, and industrial track and trace applications; safety signs, floor-marking tapes, pipe markers, labeling systems, spill control products, lockout/tagout device, and software and services for safety compliance auditing, procedure writing, and training; and hand-held printers, wire markers, sleeves, and tags for wire identification.