State Street Corp Sells 33,118 Shares of Brady Corp (NYSE:BRC)

State Street Corp reduced its stake in Brady Corp (NYSE:BRC) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,866,051 shares of the industrial products company’s stock after selling 33,118 shares during the period. State Street Corp owned approximately 7.25% of Brady worth $221,370,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Brady by 6.0% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,360,315 shares of the industrial products company’s stock worth $72,165,000 after buying an additional 77,565 shares in the last quarter. Man Group plc raised its holdings in Brady by 81.2% in the 3rd quarter. Man Group plc now owns 466,181 shares of the industrial products company’s stock worth $24,731,000 after acquiring an additional 208,929 shares during the last quarter. Redwood Investments LLC bought a new position in Brady in the 4th quarter valued at approximately $19,581,000. Rhumbline Advisers lifted its position in Brady by 7.6% in the 4th quarter. Rhumbline Advisers now owns 159,487 shares of the industrial products company’s stock valued at $9,132,000 after acquiring an additional 11,302 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Brady by 7.3% during the 4th quarter. Russell Investments Group Ltd. now owns 131,425 shares of the industrial products company’s stock valued at $7,532,000 after purchasing an additional 8,959 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

In other news, VP Bentley Curran sold 13,996 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $57.31, for a total transaction of $802,110.76. Following the completion of the sale, the vice president now owns 23,204 shares of the company’s stock, valued at approximately $1,329,821.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank W. Harris sold 1,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $57.88, for a total transaction of $57,880.00. Following the completion of the transaction, the director now owns 26,860 shares in the company, valued at approximately $1,554,656.80. The disclosure for this sale can be found here. Insiders have sold a total of 31,979 shares of company stock worth $1,837,534 over the last three months. Insiders own 15.60% of the company’s stock.

A number of research firms have commented on BRC. Zacks Investment Research raised Brady from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Northcoast Research cut Brady from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Co downgraded Brady from an “equal weight” rating to an “underweight” rating and set a $50.00 price objective for the company. in a report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Brady presently has an average rating of “Hold” and an average target price of $54.33.

Shares of BRC traded down $2.78 during mid-day trading on Thursday, hitting $48.38. 6,872 shares of the company traded hands, compared to its average volume of 175,409. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.85 and a current ratio of 2.32. The stock has a 50-day moving average price of $56.04 and a two-hundred day moving average price of $54.46. Brady Corp has a 1 year low of $44.13 and a 1 year high of $59.11. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 2.60 and a beta of 0.90.

Brady (NYSE:BRC) last issued its earnings results on Thursday, November 21st. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07. The company had revenue of $287.00 million for the quarter, compared to analysts’ expectations of $293.67 million. Brady had a net margin of 11.97% and a return on equity of 16.47%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the company posted $0.58 earnings per share. On average, analysts forecast that Brady Corp will post 2.64 EPS for the current year.

Brady Company Profile

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.

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Institutional Ownership by Quarter for Brady (NYSE:BRC)

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