Brady Co. (NYSE:BRC) Shares Sold by JPMorgan Chase & Co.

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

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Brady by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,332,099 shares of the industrial products company’s stock valued at $246,716,000 after buying an additional 17,763 shares in the last quarter. Van Berkom & Associates Inc. boosted its stake in Brady by 3.7% during the 1st 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 period. abrdn plc boosted 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 purchasing an additional 292,657 shares during the period. William Blair Investment Management LLC boosted its stake in Brady by 100.1% during the 1st 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 period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Brady by 5.1% during the 1st 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 period. Institutional investors and hedge funds own 78.22% of the company’s stock.

Brady Stock Up 0.6 %

Shares of Brady stock opened at $48.17 on Wednesday. The company has a market cap of $2.40 billion, a P/E ratio of 15.90, a PEG ratio of 2.08 and a beta of 0.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.26 and a current ratio of 2.07. Brady Co. has a one year low of $40.52 and a one year high of $55.45. The firm has a fifty day moving average of $44.46 and a two-hundred day moving average of $45.90.

Brady (NYSE:BRCGet Rating) last announced its quarterly earnings data 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. The company had revenue of $324.00 million during the quarter, compared to the consensus estimate of $331.11 million. Brady had a net margin of 11.85% and a return on equity of 18.03%. Brady’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 EPS. On average, analysts forecast that Brady Co. will post 3.3 earnings per share for the current year.

Brady Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently weighed in on BRC shares. Bank of America decreased their price target on shares of Brady from $48.00 to $44.00 in a research note on Thursday, October 13th. StockNews.com started coverage on shares of Brady in a research note on Wednesday, October 12th. They set a “buy” rating for the company.

About Brady

(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. 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.

Featured Articles

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)

Receive News & Ratings for Brady Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brady and related companies with MarketBeat.com's FREE daily email newsletter.