Brady Co. (NYSE:BRC) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC cut its stake in Brady Co. (NYSE:BRCFree Report) by 13.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,616 shares of the industrial products company’s stock after selling 1,058 shares during the period. New York Life Investment Management LLC’s holdings in Brady were worth $363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in BRC. Advisory Services Network LLC acquired a new position in Brady in the first quarter valued at approximately $28,000. US Bancorp DE lifted its holdings in Brady by 34.5% in the second quarter. US Bancorp DE now owns 775 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 199 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings in Brady by 27.1% in the first quarter. Belpointe Asset Management LLC now owns 1,456 shares of the industrial products company’s stock valued at $78,000 after acquiring an additional 310 shares during the last quarter. Quarry LP acquired a new position in Brady in the second quarter valued at approximately $71,000. Finally, Lazard Asset Management LLC lifted its holdings in Brady by 14.4% in the first quarter. Lazard Asset Management LLC now owns 2,232 shares of the industrial products company’s stock valued at $103,000 after acquiring an additional 281 shares during the last quarter. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BRC. StockNews.com cut Brady from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Bank of America upgraded Brady from an “underperform” rating to a “buy” rating and upped their price target for the stock from $51.00 to $65.00 in a research note on Tuesday, January 2nd.

Read Our Latest Stock Analysis on BRC

Insider Activity

In other news, insider Brett Wilms sold 550 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $54.06, for a total value of $29,733.00. Following the sale, the insider now directly owns 2,489 shares in the company, valued at $134,555.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 15.60% of the company’s stock.

Brady Stock Up 0.9 %

Shares of NYSE BRC opened at $61.98 on Monday. The stock has a market cap of $3.00 billion, a P/E ratio of 16.80, a PEG ratio of 2.21 and a beta of 0.80. The company has a current ratio of 2.13, a quick ratio of 1.46 and a debt-to-equity ratio of 0.05. Brady Co. has a 12-month low of $46.77 and a 12-month high of $62.50. The business’s fifty day simple moving average is $59.46 and its 200-day simple moving average is $55.37.

Brady (NYSE:BRCGet Free Report) last announced its quarterly earnings data on Thursday, November 16th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.05. The business had revenue of $331.90 million for the quarter, compared to analysts’ expectations of $342.01 million. Brady had a return on equity of 19.08% and a net margin of 13.62%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $0.84 earnings per share. As a group, equities analysts predict that Brady Co. will post 4 EPS for the current fiscal year.

Brady Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th were paid a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Tuesday, January 9th. Brady’s payout ratio is currently 25.47%.

Brady Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Brady (NYSE:BRC)

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