Assenagon Asset Management S.A. Buys 9,124 Shares of Brady Corporation $BRC

Key Points

• Assenagon Asset Management S.A. increased its holdings in Brady Corporation by 25.7% during the second quarter, now owning 44,598 shares valued at approximately $3.03 million.
• Brady Corporation reported a quarterly EPS of $1.26, exceeding estimates, along with a 15.7% year-over-year revenue growth to $397.28 million.
• The company announced an increase in its quarterly dividend to $0.245 per share, effective for stockholders on record by October 10th, which reflects an annualized yield of 1.3%.

Assenagon Asset Management S.A. raised its stake in shares of Brady Corporation (NYSE:BRC - Free Report) by 25.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,598 shares of the industrial products company's stock after purchasing an additional 9,124 shares during the quarter. Assenagon Asset Management S.A. owned 0.09% of Brady worth $3,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Quarry LP purchased a new position in Brady in the first quarter worth $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Brady in the 1st quarter worth about $74,000. NewEdge Advisors LLC boosted its holdings in shares of Brady by 282.3% in the 1st quarter. NewEdge Advisors LLC now owns 1,644 shares of the industrial products company's stock worth $116,000 after purchasing an additional 1,214 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Brady during the 1st quarter valued at about $159,000. Finally, KBC Group NV lifted its position in Brady by 33.7% in the 1st quarter. KBC Group NV now owns 2,391 shares of the industrial products company's stock worth $169,000 after buying an additional 602 shares during the last quarter. Institutional investors own 76.28% of the company's stock.

Brady Stock Performance

Shares of BRC stock opened at $76.99 on Friday. The company has a market capitalization of $3.63 billion, a P/E ratio of 19.59 and a beta of 0.83. Brady Corporation has a fifty-two week low of $62.70 and a fifty-two week high of $84.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.27 and a current ratio of 1.88. The stock has a 50 day moving average price of $75.00 and a two-hundred day moving average price of $71.47.

Brady (NYSE:BRC - Get Free Report) last issued its earnings results on Thursday, September 4th. The industrial products company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.24 by $0.02. The company had revenue of $397.28 million for the quarter, compared to the consensus estimate of $384.67 million. Brady had a net margin of 12.50% and a return on equity of 19.29%. The firm's revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 earnings per share. Brady has set its FY 2026 guidance at 4.850-5.150 EPS. Analysts expect that Brady Corporation will post 4.55 earnings per share for the current year.

Brady Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 10th will be issued a dividend of $0.245 per share. This is an increase from Brady's previous quarterly dividend of $0.24. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, October 10th. Brady's dividend payout ratio (DPR) is currently 24.43%.

Insider Transactions at Brady

In other Brady news, CEO Russell Shaller sold 23,743 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $80.07, for a total transaction of $1,901,102.01. Following the completion of the transaction, the chief executive officer owned 135,080 shares of the company's stock, valued at $10,815,855.60. This represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 15.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Brady from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company presently has an average rating of "Strong Buy".

About Brady

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.

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