JPMorgan Chase & Co. Has $96.50 Million Holdings in Brady Co. (NYSE:BRC)

JPMorgan Chase & Co. trimmed its position in shares of Brady Co. (NYSE:BRCGet Rating) by 7.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,042,742 shares of the industrial products company’s stock after selling 166,068 shares during the period. JPMorgan Chase & Co. owned 4.07% of Brady worth $96,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BRC. Mutual of America Capital Management LLC increased its holdings in Brady by 4.9% during the first quarter. Mutual of America Capital Management LLC now owns 6,959 shares of the industrial products company’s stock worth $322,000 after buying an additional 328 shares during the last quarter. abrdn plc increased its holdings in Brady by 57.8% during the first quarter. abrdn plc now owns 799,234 shares of the industrial products company’s stock worth $37,820,000 after buying an additional 292,657 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Brady by 8.2% during the first quarter. Envestnet Asset Management Inc. now owns 8,914 shares of the industrial products company’s stock worth $412,000 after buying an additional 678 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Brady by 71.2% during the first quarter. Victory Capital Management Inc. now owns 343,250 shares of the industrial products company’s stock worth $15,360,000 after buying an additional 142,696 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in Brady by 38.8% during the first quarter. Royce & Associates LP now owns 31,289 shares of the industrial products company’s stock worth $1,448,000 after buying an additional 8,739 shares during the last quarter. 78.22% of the stock is currently owned by institutional investors and hedge funds.

Brady Trading Up 0.6 %

Shares of Brady stock opened at $48.17 on Wednesday. Brady Co. has a 52-week low of $40.52 and a 52-week high of $55.45. The firm has a 50-day moving average of $44.46 and a 200-day moving average of $45.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.26 and a current ratio of 2.07. The stock has a market cap of $2.40 billion, a PE ratio of 15.90, a PEG ratio of 2.08 and a beta of 0.78.

Brady (NYSE:BRCGet Rating) last posted its earnings results on Thursday, September 1st. The industrial products company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.06. Brady had a net margin of 11.85% and a return on equity of 18.03%. The firm had revenue of $324.00 million during the quarter, compared to analysts’ expectations of $331.11 million. During the same quarter in the prior year, the business earned $0.70 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Brady Co. will post 3.3 EPS for the current year.

Brady Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Tuesday, January 10th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Monday, January 9th. Brady’s dividend payout ratio is currently 30.36%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Bank of America lowered their target price on shares of Brady from $48.00 to $44.00 in a report on Thursday, October 13th. StockNews.com began coverage on shares of Brady in a report on Wednesday, October 12th. They issued a “buy” rating on the stock.

Brady Company 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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