Brady Corporation (NYSE:BRC) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in shares of Brady Corporation (NYSE:BRC - Free Report) by 7.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 443,373 shares of the industrial products company's stock after selling 37,551 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.93% of Brady worth $31,320,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BRC. Smartleaf Asset Management LLC increased its holdings in shares of Brady by 213.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 461 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 314 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Brady by 19.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 893 shares of the industrial products company's stock valued at $66,000 after purchasing an additional 143 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Brady in the fourth quarter valued at approximately $96,000. New Age Alpha Advisors LLC acquired a new stake in Brady during the fourth quarter worth approximately $156,000. Finally, NBC Securities Inc. lifted its position in shares of Brady by 99,900.0% during the 1st quarter. NBC Securities Inc. now owns 3,000 shares of the industrial products company's stock worth $211,000 after buying an additional 2,997 shares during the last quarter. Hedge funds and other institutional investors own 76.28% of the company's stock.

Brady Stock Performance

NYSE:BRC traded up $0.42 during mid-day trading on Friday, reaching $69.68. 183,776 shares of the stock were exchanged, compared to its average volume of 245,244. The stock has a market capitalization of $3.30 billion, a P/E ratio of 17.25 and a beta of 0.79. Brady Corporation has a 1 year low of $62.70 and a 1 year high of $77.68. The company has a 50 day simple moving average of $70.14 and a 200-day simple moving average of $71.23. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.09.

Brady (NYSE:BRC - Get Free Report) last announced its earnings results on Friday, May 16th. The industrial products company reported $1.22 earnings per share for the quarter, hitting the consensus estimate of $1.22. The business had revenue of $382.59 million during the quarter, compared to the consensus estimate of $386.61 million. Brady had a net margin of 13.35% and a return on equity of 19.57%. The business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.09 earnings per share. Analysts anticipate that Brady Corporation will post 4.55 earnings per share for the current fiscal year.

Brady Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, July 10th. Brady's payout ratio is 23.76%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BRC. Sidoti raised shares of Brady to a "strong-buy" rating in a research report on Monday, May 19th. Wall Street Zen raised Brady from a "hold" rating to a "buy" rating in a report on Saturday, June 14th.

Brady 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 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.