Assenagon Asset Management S.A. Decreases Stock Position in Brady Corporation $BRC

Assenagon Asset Management S.A. lessened its holdings in Brady Corporation (NYSE:BRC - Free Report) by 60.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,586 shares of the industrial products company's stock after selling 23,856 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Brady were worth $1,427,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Advisory Services Network LLC acquired a new stake in Brady in the 3rd quarter worth approximately $31,000. Global Retirement Partners LLC raised its stake in Brady by 42.4% in the 4th quarter. Global Retirement Partners LLC now owns 450 shares of the industrial products company's stock worth $35,000 after acquiring an additional 134 shares during the last quarter. Leonteq Securities AG acquired a new stake in Brady during the 1st quarter worth about $40,000. EverSource Wealth Advisors LLC lifted its position in Brady by 89.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 684 shares of the industrial products company's stock worth $46,000 after acquiring an additional 322 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in Brady by 156.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company's stock valued at $69,000 after purchasing an additional 618 shares during the last quarter. Institutional investors and hedge funds own 76.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wall Street Zen raised Brady from a "hold" rating to a "buy" rating in a report on Saturday, May 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Brady in a report on Friday, August 7th. Finally, Sidoti upgraded Brady from a "neutral" rating to a "buy" rating and set a $103.00 target price on the stock in a research report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Brady currently has a consensus rating of "Buy" and an average target price of $103.00.

Insider Activity

In related news, CEO Vineet A. Nargolwala bought 13,011 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The stock was purchased at an average price of $76.86 per share, for a total transaction of $1,000,025.46. Following the acquisition, the chief executive officer owned 52,709 shares of the company's stock, valued at approximately $4,051,213.74. This trade represents a 32.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 15.60% of the company's stock.

Brady Price Performance

NYSE:BRC opened at $94.03 on Friday. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 21.42 and a beta of 0.61. Brady Corporation has a 1-year low of $70.57 and a 1-year high of $99.29. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.01 and a quick ratio of 1.36. The company has a 50 day moving average price of $90.64 and a 200-day moving average price of $87.42.

Brady (NYSE:BRC - Get Free Report) last released its earnings results on Monday, May 18th. The industrial products company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.15. The business had revenue of $435.24 million during the quarter, compared to analysts' expectations of $406.07 million. Brady had a net margin of 12.93% and a return on equity of 19.01%. The company's quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.22 earnings per share. Brady has set its FY 2026 guidance at 5.200-5.300 EPS. Equities research analysts forecast that Brady Corporation will post 5.25 EPS for the current year.

Brady Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 10th were given a dividend of $0.245 per share. The ex-dividend date was Friday, July 10th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.0%. Brady's dividend payout ratio (DPR) is currently 22.32%.

Brady Profile

Brady Corporation is a global provider of identification and safety solutions, specializing in the design, manufacture and sale of products that help businesses improve safety, security and efficiency. The company offers an array of durable labels, signs, safety devices, printing systems and software platforms tailored to a wide range of industrial and commercial environments.

Founded in 1914 by William H. Brady, Brady Corporation has grown from a regional marker manufacturer into a diversified global enterprise.

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