First Trust Advisors LP raised its holdings in shares of Brady Corp (NYSE:BRC) by 40.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,818 shares of the industrial products company’s stock after purchasing an additional 12,951 shares during the period. First Trust Advisors LP’s holdings in Brady were worth $1,961,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in BRC. Fort L.P. bought a new stake in shares of Brady during the second quarter valued at approximately $103,000. Bruderman Asset Management LLC bought a new stake in shares of Brady during the second quarter valued at approximately $115,000. Raymond James & Associates bought a new stake in shares of Brady during the second quarter valued at approximately $253,000. Stevens Capital Management LP bought a new stake in shares of Brady during the second quarter valued at approximately $317,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Brady during the second quarter valued at approximately $318,000. 76.82% of the stock is owned by institutional investors and hedge funds.
In related news, VP Thomas J. Felmer sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $42.71, for a total value of $1,494,850.00. Following the sale, the vice president now owns 93,115 shares in the company, valued at $3,976,941.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas J. Felmer sold 11,667 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $41.55, for a total transaction of $484,763.85. Following the completion of the sale, the vice president now owns 69,782 shares in the company, valued at approximately $2,899,442.10. The disclosure for this sale can be found here. Insiders sold 191,281 shares of company stock worth $8,343,313 in the last 90 days. 15.60% of the stock is currently owned by corporate insiders.
Brady (NYSE:BRC) last issued its earnings results on Thursday, November 15th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.06. Brady had a net margin of 8.15% and a return on equity of 15.01%. The company had revenue of $293.20 million for the quarter, compared to analysts’ expectations of $295.67 million. During the same quarter last year, the company posted $0.49 earnings per share. As a group, equities analysts predict that Brady Corp will post 2.28 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Investors of record on Thursday, January 10th will be issued a $0.2125 dividend. This represents a $0.85 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Wednesday, January 9th. Brady’s dividend payout ratio is currently 41.67%.
BRC has been the subject of several analyst reports. Sidoti downgraded shares of Brady from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 18th. Bank of America set a $42.00 price target on shares of Brady and gave the company a “sell” rating in a research report on Monday, September 17th. SunTrust Banks reissued a “hold” rating and set a $43.00 price target on shares of Brady in a research report on Monday, November 19th. Zacks Investment Research raised shares of Brady from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Monday, September 17th. Finally, ValuEngine raised shares of Brady from a “hold” rating to a “buy” rating in a research report on Thursday, September 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Brady presently has an average rating of “Hold” and a consensus price target of $44.00.
ILLEGAL ACTIVITY WARNING: This article was first published by Community Financial News and is the sole property of of Community Financial News. If you are viewing this article on another domain, it was stolen and reposted in violation of United States & international copyright and trademark law. The original version of this article can be read at https://www.com-unik.info/2018/12/04/first-trust-advisors-lp-has-1-96-million-holdings-in-brady-corp-brc.html.
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 IDS segment offers safety signs, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials and printing systems for product identification, brand protection labeling, work in process labeling, and finished product identification; and hand-held printers, wire markers, sleeves, and tags for wire identification, as well as software and services for safety compliance auditing, procedure writing, and training.
Read More: What is the 52-week high/low?
Want to see what other hedge funds are holding BRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brady Corp (NYSE:BRC).
Receive News & Ratings for Brady Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brady and related companies with MarketBeat.com's FREE daily email newsletter.