Bank of New York Mellon Corp Trims Position in Brady Corporation (NYSE:BRC)

Bank of New York Mellon Corp trimmed its position in Brady Corporation (NYSE:BRC) by 4.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 318,862 shares of the industrial products company’s stock after selling 16,460 shares during the period. Bank of New York Mellon Corp owned 0.67% of Brady worth $22,524,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BRC. New Age Alpha Advisors LLC purchased a new position in Brady during the 4th quarter valued at approximately $156,000. KBC Group NV lifted its stake in shares of Brady by 33.7% during the 1st quarter. KBC Group NV now owns 2,391 shares of the industrial products company’s stock worth $169,000 after acquiring an additional 602 shares during the last quarter. NBC Securities Inc. lifted its stake in shares of Brady by 99,900.0% during the 1st quarter. NBC Securities Inc. now owns 3,000 shares of the industrial products company’s stock worth $211,000 after acquiring an additional 2,997 shares during the last quarter. apricus wealth LLC bought a new stake in Brady during the 1st quarter valued at $218,000. Finally, Hancock Whitney Corp bought a new stake in Brady during the 4th quarter valued at $219,000. 76.28% of the stock is owned by hedge funds and other institutional investors.

Brady Trading Up 0.8%

Shares of Brady stock opened at $69.40 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.26 and a current ratio of 1.87. The stock has a 50 day moving average of $69.75 and a 200 day moving average of $70.88. Brady Corporation has a fifty-two week low of $62.70 and a fifty-two week high of $77.68. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 17.18 and a beta of 0.79.

Brady (NYSE:BRC) last posted its quarterly earnings results on Friday, May 16th. The industrial products company reported $1.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.22. The company had revenue of $382.59 million for the quarter, compared to analysts’ expectations of $386.61 million. Brady had a return on equity of 19.57% and a net margin of 13.35%. Brady’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm earned $1.09 earnings per share. As a group, research analysts predict that Brady Corporation will post 4.55 earnings per share for the current year.

Brady Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Thursday, July 10th. Brady’s dividend payout ratio (DPR) is 23.76%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wall Street Zen upgraded Brady from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Sidoti upgraded Brady to a “strong-buy” rating in a research note on Monday, May 19th.

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.