Amalgamated Bank Lowers Position in Brady Co. (NYSE:BRC)

Amalgamated Bank lowered its position in Brady Co. (NYSE:BRC) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,113 shares of the industrial products company’s stock after selling 509 shares during the period. Amalgamated Bank’s holdings in Brady were worth $800,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. SYSTM Wealth Solutions LLC bought a new position in shares of Brady in the 1st quarter worth about $35,000. Blue Trust Inc. increased its stake in shares of Brady by 65.3% during the second quarter. Blue Trust Inc. now owns 663 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 262 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Brady by 337.1% during the second quarter. GAMMA Investing LLC now owns 918 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 708 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Brady in the 1st quarter worth approximately $66,000. Finally, Quest Partners LLC purchased a new stake in shares of Brady in the 2nd quarter worth approximately $119,000. 76.28% of the stock is currently owned by institutional investors.

Brady Price Performance

BRC opened at $75.24 on Friday. The company’s 50-day simple moving average is $72.42 and its two-hundred day simple moving average is $66.06. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.69 and a current ratio of 2.27. The stock has a market capitalization of $3.57 billion, a P/E ratio of 19.19, a P/E/G ratio of 3.49 and a beta of 0.76. Brady Co. has a 52-week low of $51.35 and a 52-week high of $76.97.

Brady (NYSE:BRC) last issued its earnings results on Friday, September 6th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. The company 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 firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the company posted $1.04 earnings per share. As a group, analysts predict that Brady Co. will post 4.55 EPS for the current year.

Brady Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Thursday, October 10th. This is a boost from Brady’s previous quarterly dividend of $0.24. Brady’s dividend payout ratio is 24.49%.

Insider Buying and Selling at Brady

In other Brady news, COO Thomas F. Debruine sold 2,851 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $75.77, for a total transaction of $216,020.27. Following the completion of the sale, the chief operating officer now directly owns 9,727 shares in the company, valued at approximately $737,014.79. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Brady news, General Counsel Andrew Gorman sold 8,736 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $74.10, for a total transaction of $647,337.60. Following the completion of the sale, the general counsel now owns 10,140 shares of the company’s stock, valued at $751,374. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas F. Debruine sold 2,851 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $75.77, for a total value of $216,020.27. Following the completion of the transaction, the chief operating officer now directly owns 9,727 shares in the company, valued at approximately $737,014.79. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,134 shares of company stock valued at $1,780,293. 15.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Brady Company 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.