Belpointe Asset Management LLC Acquires New Stake in Brady Co. (NYSE:BRC)

Belpointe Asset Management LLC acquired a new stake in shares of Brady Co. (NYSE:BRC – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,146 shares of the industrial products company’s stock, valued at approximately $54,000.

A number of other hedge funds have also made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. increased its stake in shares of Brady by 54.7% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 9,138 shares of the industrial products company’s stock valued at $430,000 after acquiring an additional 3,231 shares during the period. Swiss National Bank boosted its holdings in Brady by 1.8% during the fourth quarter. Swiss National Bank now owns 112,700 shares of the industrial products company’s stock worth $5,308,000 after buying an additional 2,000 shares in the last quarter. Arizona State Retirement System boosted its holdings in Brady by 3.8% during the fourth quarter. Arizona State Retirement System now owns 13,174 shares of the industrial products company’s stock worth $620,000 after buying an additional 487 shares in the last quarter. Duality Advisers LP bought a new stake in Brady during the fourth quarter worth approximately $348,000. Finally, CX Institutional bought a new stake in Brady during the fourth quarter worth approximately $1,355,000. Institutional investors and hedge funds own 77.57% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Brady in a report on Thursday, May 18th. They set a “buy” rating for the company.

Brady Trading Down 5.9 %

Shares of NYSE:BRC opened at $49.15 on Tuesday. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.16 and a beta of 0.79. Brady Co. has a 1-year low of $40.52 and a 1-year high of $56.35. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.34 and a current ratio of 2.19. The company has a 50 day moving average price of $51.75 and a 200 day moving average price of $50.59.

Brady (NYSE:BRC – Get Rating) last posted its quarterly earnings data on Friday, February 24th. The industrial products company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. Brady had a net margin of 12.71% and a return on equity of 18.40%. The firm had revenue of $326.20 million during the quarter, compared to analyst estimates of $319.39 million. During the same quarter last year, the business posted $0.70 EPS. The company’s revenue was up 2.5% on a year-over-year basis. On average, research analysts anticipate that Brady Co. will post 3.45 EPS for the current fiscal year.

Brady Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Monday, July 10th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, July 7th. Brady’s dividend payout ratio is 27.71%.

Insider Buying and Selling at Brady

In other Brady news, Director Elizabeth P. Bruno sold 8,500 shares of Brady stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $54.02, for a total transaction of $459,170.00. Following the completion of the sale, the director now owns 359,019 shares of the company’s stock, valued at approximately $19,394,206.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 15.60% of the company’s stock.

Brady Profile

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Brady Corp. engages in the manufacture and market of specialty materials and identification solutions that determines and protects premises, products, and people. The firm operates through the Identification Solutions (IDS) and Workplace Safety (WPS) segments. The IDS segment offers industrial and healthcare identification products.