JPMorgan Chase & Co. Buys 140,585 Shares of Brady Corporation (BRC)

JPMorgan Chase & Co. lifted its position in shares of Brady Corporation (NYSE:BRC) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,770,218 shares of the industrial products company’s stock after purchasing an additional 140,585 shares during the period. JPMorgan Chase & Co. owned 7.34% of Brady worth $143,457,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Eaton Vance Management lifted its holdings in Brady by 0.3% in the second quarter. Eaton Vance Management now owns 11,521 shares of the industrial products company’s stock worth $391,000 after buying an additional 32 shares during the period. Arizona State Retirement System lifted its holdings in Brady by 0.4% in the second quarter. Arizona State Retirement System now owns 24,915 shares of the industrial products company’s stock worth $845,000 after buying an additional 100 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in Brady by 0.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 43,814 shares of the industrial products company’s stock worth $1,485,000 after buying an additional 138 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in Brady by 1.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 13,640 shares of the industrial products company’s stock worth $462,000 after buying an additional 240 shares during the period. Finally, Amalgamated Bank lifted its holdings in Brady by 5.0% in the second quarter. Amalgamated Bank now owns 6,403 shares of the industrial products company’s stock worth $217,000 after buying an additional 305 shares during the period. Institutional investors own 77.23% of the company’s stock.

Brady Corporation (NYSE BRC) opened at $38.70 on Friday. Brady Corporation has a 1-year low of $31.70 and a 1-year high of $40.50. The stock has a market cap of $1,995.29, a P/E ratio of 21.50, a PEG ratio of 2.67 and a beta of 1.19. The company has a current ratio of 2.19, a quick ratio of 1.62 and a debt-to-equity ratio of 0.13.

Brady (NYSE:BRC) last released its earnings results on Thursday, November 16th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The firm had revenue of $290.15 million during the quarter, compared to analyst estimates of $286.75 million. Brady had a net margin of 8.81% and a return on equity of 13.90%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the business earned $0.44 earnings per share. sell-side analysts predict that Brady Corporation will post 1.93 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 10th will be given a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Tuesday, January 9th. Brady’s dividend payout ratio (DPR) is currently 43.92%.

In related news, VP Thomas J. Felmer sold 3,980 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $39.51, for a total transaction of $157,249.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bradley C. Richardson sold 1,400 shares of Brady stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $39.15, for a total transaction of $54,810.00. Following the completion of the sale, the director now directly owns 2,511 shares of the company’s stock, valued at approximately $98,305.65. The disclosure for this sale can be found here. Insiders have sold 39,380 shares of company stock valued at $1,484,060 in the last three months. 15.60% of the stock is owned by insiders.

Several analysts have commented on the stock. Zacks Investment Research lowered shares of Brady from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Robert W. Baird set a $36.00 target price on shares of Brady and gave the company a “hold” rating in a report on Thursday, August 24th. SunTrust Banks reiterated a “hold” rating and set a $38.00 target price on shares of Brady in a report on Friday, October 27th. Finally, Bank of America lifted their target price on shares of Brady from $33.00 to $34.00 and gave the company an “underperform” rating in a report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $39.60.

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Brady Profile

Brady Corporation is a manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people. The Company has two segments: Identification Solutions (IDS) and Workplace Safety (WPS). The IDS segment includes identification and healthcare products, and the WPS segment includes workplace safety and compliance products.

Institutional Ownership by Quarter for Brady (NYSE:BRC)

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