California Public Employees Retirement System Sells 3,400 Shares of Brady Corp (BRC)

California Public Employees Retirement System lowered its stake in shares of Brady Corp (NYSE:BRC) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,900 shares of the industrial products company’s stock after selling 3,400 shares during the quarter. California Public Employees Retirement System owned about 0.30% of Brady worth $5,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Brady by 1.3% in the second quarter. BlackRock Inc. now owns 5,730,661 shares of the industrial products company’s stock worth $194,270,000 after acquiring an additional 71,895 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Brady by 3.0% in the second quarter. Vanguard Group Inc. now owns 5,480,546 shares of the industrial products company’s stock worth $185,791,000 after acquiring an additional 159,933 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Brady by 3.9% in the third quarter. JPMorgan Chase & Co. now owns 3,770,218 shares of the industrial products company’s stock worth $143,457,000 after acquiring an additional 140,585 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Brady by 2.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,753,034 shares of the industrial products company’s stock worth $66,528,000 after acquiring an additional 38,340 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Brady by 13.2% in the second quarter. Renaissance Technologies LLC now owns 1,649,100 shares of the industrial products company’s stock worth $55,904,000 after acquiring an additional 192,000 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.

Shares of Brady Corp (BRC) opened at $38.65 on Friday. 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 Corp has a twelve month low of $31.70 and a twelve month high of $40.50. The company has a market capitalization of $2,026.23, a PE ratio of 20.45, a P/E/G ratio of 2.72 and a beta of 1.19.

Brady (NYSE:BRC) last released its earnings results on Thursday, November 16th. The industrial products company reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. Brady had a return on equity of 13.90% and a net margin of 8.81%. The firm had revenue of $290.15 million during the quarter, compared to the consensus estimate of $286.75 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year. analysts expect that Brady Corp will post 1.93 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 10th will be issued a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Tuesday, January 9th. Brady’s dividend payout ratio (DPR) is 43.92%.

In related news, VP Thomas J. Felmer sold 2,649 shares of Brady stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $39.52, for a total transaction of $104,688.48. Following the completion of the sale, the vice president now owns 57,668 shares of the company’s stock, valued at $2,279,039.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas J. Felmer sold 3,980 shares of Brady stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $39.51, for a total value of $157,249.80. The disclosure for this sale can be found here. Insiders have sold 18,029 shares of company stock valued at $706,748 in the last ninety days. Corporate insiders own 15.60% of the company’s stock.

Several equities research analysts have weighed in on BRC shares. Zacks Investment Research downgraded Brady from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Bank of America raised their price target on Brady from $34.00 to $35.00 and gave the stock an “underperform” rating in a report on Friday, November 17th. SunTrust Banks reissued a “hold” rating and issued a $39.00 price target on shares of Brady in a report on Friday, November 17th. Finally, Robert W. Baird reissued a “hold” rating and issued a $36.00 price target on shares of Brady in a report on Friday, October 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.00.

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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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