Arizona State Retirement System Sells 541 Shares of Brady Co. (NYSE:BRC)

Arizona State Retirement System lowered its stake in Brady Co. (NYSE:BRC) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,531 shares of the industrial products company’s stock after selling 541 shares during the period. Arizona State Retirement System’s holdings in Brady were worth $735,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Advisory Services Network LLC purchased a new position in shares of Brady in the first quarter valued at about $28,000. US Bancorp DE grew its stake in shares of Brady by 34.5% in the second quarter. US Bancorp DE now owns 775 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 199 shares during the last quarter. Belpointe Asset Management LLC increased its holdings in Brady by 27.1% during the 1st quarter. Belpointe Asset Management LLC now owns 1,456 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 310 shares during the period. Quarry LP bought a new position in Brady during the 2nd quarter valued at approximately $71,000. Finally, Lazard Asset Management LLC lifted its holdings in Brady by 14.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,232 shares of the industrial products company’s stock worth $103,000 after buying an additional 281 shares during the period. Institutional investors own 76.28% of the company’s stock.

Brady Stock Up 1.0 %

BRC stock opened at $58.85 on Friday. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 2.10 and a beta of 0.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.13. The business’s 50 day moving average price is $59.16 and its two-hundred day moving average price is $57.60. Brady Co. has a fifty-two week low of $46.77 and a fifty-two week high of $63.02.

Brady (NYSE:BRC) last issued its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.01. The company had revenue of $322.60 million for the quarter, compared to analysts’ expectations of $339.61 million. Brady had a return on equity of 19.24% and a net margin of 14.08%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 earnings per share. As a group, analysts forecast that Brady Co. will post 4 earnings per share for the current fiscal year.

Brady Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 9th will be issued a $0.235 dividend. The ex-dividend date is Monday, April 8th. This represents a $0.94 dividend on an annualized basis and a yield of 1.60%. Brady’s dividend payout ratio is currently 24.54%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Bank of America upgraded Brady from an “underperform” rating to a “buy” rating and upped their target price for the company from $51.00 to $65.00 in a report on Tuesday, January 2nd. StockNews.com lowered shares of Brady from a “strong-buy” rating to a “buy” rating in a report on Monday, February 26th.

Insider Buying and Selling at Brady

In other news, Director Nancy Lee Gioia sold 4,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $59.20, for a total value of $251,600.00. Following the transaction, the director now owns 11,551 shares of the company’s stock, valued at $683,819.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Elizabeth P. Bruno sold 19,030 shares of Brady stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $58.41, for a total value of $1,111,542.30. Following the sale, the director now directly owns 342,115 shares of the company’s stock, valued at $19,982,937.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nancy Lee Gioia sold 4,250 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $59.20, for a total value of $251,600.00. Following the completion of the sale, the director now owns 11,551 shares in the company, valued at $683,819.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,017 shares of company stock valued at $2,283,667. Company insiders own 15.60% of the company’s stock.

Brady Profile

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.