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).

Other large investors have also made changes to their positions in the company. Advisory Services Network LLC purchased a new stake in shares of Brady in the first quarter valued at approximately $28,000. US Bancorp DE grew its position in shares of 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 purchasing an additional 199 shares in the last quarter. Belpointe Asset Management LLC grew its position in shares of 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 purchasing an additional 310 shares in 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 Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com cut Brady from a “strong-buy” rating to a “buy” rating in a report on Thursday. Bank of America upgraded Brady from an “underperform” rating to a “buy” rating and upped their price objective for the company from $51.00 to $65.00 in a report on Tuesday, January 2nd.

Get Our Latest Analysis on Brady

Brady Stock Up 0.9 %

NYSE:BRC opened at $61.98 on Monday. The company has a quick ratio of 1.46, a current ratio of 2.13 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average is $59.46 and its two-hundred day moving average is $55.37. Brady Co. has a 52 week low of $46.77 and a 52 week high of $62.50. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 2.21 and a beta of 0.80.

Brady (NYSE:BRCGet Free Report) last released its quarterly earnings results on Thursday, November 16th. The industrial products company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. The company 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 firm’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. Research analysts anticipate that Brady Co. will post 4 EPS for the current 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%.

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.

About Brady

(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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