Van Berkom & Associates Inc. Cuts Stake in Brady Co. (NYSE:BRC)

Van Berkom & Associates Inc. cut its holdings in Brady Co. (NYSE:BRC) by 28.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 824,530 shares of the industrial products company’s stock after selling 323,831 shares during the period. Van Berkom & Associates Inc. owned 1.74% of Brady worth $54,435,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in shares of Brady in the second quarter worth $119,000. Arizona State Retirement System boosted its holdings in shares of Brady by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 12,540 shares of the industrial products company’s stock valued at $828,000 after purchasing an additional 230 shares during the last quarter. TD Asset Management Inc grew its position in shares of Brady by 55.3% during the second quarter. TD Asset Management Inc now owns 71,900 shares of the industrial products company’s stock valued at $4,747,000 after purchasing an additional 25,600 shares in the last quarter. Ritholtz Wealth Management grew its position in shares of Brady by 3.2% during the second quarter. Ritholtz Wealth Management now owns 11,590 shares of the industrial products company’s stock valued at $765,000 after purchasing an additional 359 shares in the last quarter. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Brady in the second quarter worth about $219,000. 76.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut Brady from a “strong-buy” rating to a “buy” rating in a report on Saturday.

Brady Price Performance

BRC traded up $0.07 during trading hours on Monday, hitting $72.26. The company’s stock had a trading volume of 6,239 shares, compared to its average volume of 282,444. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 2.06 and a beta of 0.76. The business’s 50-day moving average price is $70.06 and its 200-day moving average price is $64.44. The company has a current ratio of 2.27, a quick ratio of 1.69 and a debt-to-equity ratio of 0.09. Brady Co. has a 12 month low of $51.35 and a 12 month high of $76.82.

Brady (NYSE:BRC) last announced its earnings results on Friday, September 6th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.08. The firm had revenue of $343.40 million for the quarter, compared to analysts’ expectations of $351.74 million. Brady had a net margin of 14.70% and a return on equity of 19.84%. The business’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.04 EPS. Sell-side analysts expect that Brady Co. will post 4.55 earnings per share for the current fiscal year.

Brady Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be issued a $0.24 dividend. This is a boost from Brady’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.33%. Brady’s payout ratio is 23.98%.

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.