Victory Capital Management Inc. Purchases 142,696 Shares of Brady Co. (NYSE:BRC)

Victory Capital Management Inc. boosted its position in shares of Brady Co. (NYSE:BRCGet Rating) by 71.2% during the first quarter, Holdings Channel.com reports. The fund owned 343,250 shares of the industrial products company’s stock after acquiring an additional 142,696 shares during the quarter. Victory Capital Management Inc.’s holdings in Brady were worth $15,360,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in Brady by 8.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 8,914 shares of the industrial products company’s stock worth $412,000 after acquiring an additional 678 shares during the period. abrdn plc raised its stake in Brady by 57.8% during the 1st quarter. abrdn plc now owns 799,234 shares of the industrial products company’s stock worth $37,820,000 after acquiring an additional 292,657 shares during the period. Mutual of America Capital Management LLC raised its stake in Brady by 4.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 6,959 shares of the industrial products company’s stock worth $322,000 after acquiring an additional 328 shares during the period. Nisa Investment Advisors LLC raised its stake in Brady by 3.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 25,800 shares of the industrial products company’s stock worth $1,194,000 after acquiring an additional 790 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of Brady by 3,227.9% during the first quarter. Parallel Advisors LLC now owns 1,431 shares of the industrial products company’s stock valued at $68,000 after buying an additional 1,388 shares during the last quarter. Institutional investors own 78.70% of the company’s stock.

Brady Trading Down 0.9 %

Brady stock opened at $46.71 on Friday. The stock has a market cap of $2.35 billion, a P/E ratio of 17.76, a PEG ratio of 1.97 and a beta of 0.74. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.97 and a quick ratio of 1.24. Brady Co. has a 1 year low of $41.69 and a 1 year high of $56.39. The firm’s 50 day moving average price is $46.74 and its 200-day moving average price is $46.77.

Brady (NYSE:BRCGet Rating) last released its quarterly earnings data on Thursday, May 26th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.09. The firm had revenue of $338.60 million for the quarter, compared to analysts’ expectations of $333.91 million. Brady had a net margin of 10.66% and a return on equity of 16.38%. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 earnings per share. On average, equities analysts predict that Brady Co. will post 3.1 earnings per share for the current fiscal year.

Brady Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 8th were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Thursday, July 7th. Brady’s payout ratio is currently 34.22%.

Insider Activity

In related news, Director Elizabeth P. Bruno sold 4,250 shares of the business’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $48.32, for a total value of $205,360.00. Following the sale, the director now owns 356,340 shares in the company, valued at $17,218,348.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Elizabeth P. Bruno sold 4,250 shares of the business’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $48.32, for a total value of $205,360.00. Following the sale, the director now owns 356,340 shares in the company, valued at $17,218,348.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank W. Harris sold 1,000 shares of the business’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $48.10, for a total transaction of $48,100.00. Following the completion of the sale, the director now owns 20,441 shares in the company, valued at approximately $983,212.10. The disclosure for this sale can be found here. Company insiders own 15.60% of the company’s stock.

Brady Profile

(Get Rating)

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 IDS segment offers safety signs, floor-marking tapes, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials, printing systems, RFID and bar code scanners for product identification, brand protection labeling, work in process labeling, and finished product identification; and hand-held printers, wire markers, sleeves, and tags for wire identification, as well as software and services for safety compliance auditing, procedure writing, and training.

Further Reading

Want to see what other hedge funds are holding BRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brady Co. (NYSE:BRCGet Rating).

Institutional Ownership by Quarter for Brady (NYSE:BRC)

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