OLD Mission Capital LLC Decreases Holdings in Brady Co. (NYSE:BRC)

OLD Mission Capital LLC cut its holdings in shares of Brady Co. (NYSE:BRCGet Rating) by 86.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,658 shares of the industrial products company’s stock after selling 34,784 shares during the quarter. OLD Mission Capital LLC’s holdings in Brady were worth $267,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Brady by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,332,099 shares of the industrial products company’s stock worth $246,716,000 after acquiring an additional 17,763 shares in the last quarter. Van Berkom & Associates Inc. grew its holdings in shares of Brady by 3.7% in the first quarter. Van Berkom & Associates Inc. now owns 1,350,642 shares of the industrial products company’s stock worth $62,494,000 after purchasing an additional 48,436 shares during the last quarter. abrdn plc grew its holdings in shares of Brady by 57.8% in the first quarter. abrdn plc now owns 799,234 shares of the industrial products company’s stock worth $37,820,000 after purchasing an additional 292,657 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of Brady by 100.1% in the first quarter. William Blair Investment Management LLC now owns 795,655 shares of the industrial products company’s stock worth $36,815,000 after purchasing an additional 398,093 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Brady by 5.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 517,138 shares of the industrial products company’s stock worth $23,928,000 after purchasing an additional 24,934 shares during the last quarter. 78.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BRC shares. StockNews.com started coverage on shares of Brady in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Bank of America cut their target price on shares of Brady from $48.00 to $44.00 in a report on Thursday, October 13th.

Brady Stock Performance

NYSE:BRC opened at $48.52 on Friday. The stock has a market cap of $2.42 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 2.04 and a beta of 0.78. The firm’s fifty day simple moving average is $43.84 and its 200 day simple moving average is $45.77. Brady Co. has a twelve month low of $40.52 and a twelve month high of $55.45. The company has a quick ratio of 1.21, a current ratio of 1.95 and a debt-to-equity ratio of 0.10.

Brady (NYSE:BRCGet Rating) last released its quarterly earnings results on Thursday, September 1st. The industrial products company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.06. Brady had a net margin of 11.52% and a return on equity of 17.33%. The business had revenue of $324.00 million for the quarter, compared to analysts’ expectations of $331.11 million. During the same quarter in the previous year, the business posted $0.70 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, research analysts predict that Brady Co. will post 3.3 EPS for the current year.

Brady Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, October 7th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Thursday, October 6th. This is a boost from Brady’s previous quarterly dividend of $0.23. Brady’s payout ratio is 31.62%.

Brady Profile

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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. It operates through two segments, IDS and WPS. The IDS segment 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.

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Institutional Ownership by Quarter for Brady (NYSE:BRC)

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