Brady Corporation (NYSE:BRC) Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in Brady Corporation (NYSE:BRC - Free Report) by 4.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 318,862 shares of the industrial products company's stock after selling 16,460 shares during the period. Bank of New York Mellon Corp owned approximately 0.67% of Brady worth $22,524,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. New Age Alpha Advisors LLC purchased a new stake in shares of Brady during the 4th quarter worth $156,000. KBC Group NV lifted its position in shares of Brady by 33.7% during the 1st quarter. KBC Group NV now owns 2,391 shares of the industrial products company's stock worth $169,000 after purchasing an additional 602 shares during the last quarter. 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 purchasing an additional 2,997 shares during the last quarter. apricus wealth LLC purchased a new stake in shares of Brady during the 1st quarter worth $218,000. Finally, Hancock Whitney Corp purchased a new stake in shares of Brady during the 4th quarter worth $219,000. Hedge funds and other institutional investors own 76.28% of the company's stock.

Analysts Set New Price Targets

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

Brady Price Performance

Shares of NYSE BRC traded down $0.27 on Friday, hitting $68.99. The company's stock had a trading volume of 119,836 shares, compared to its average volume of 242,468. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.87 and a quick ratio of 1.26. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 17.08 and a beta of 0.79. The stock has a 50 day moving average of $69.67 and a 200-day moving average of $70.83. Brady Corporation has a 12-month low of $62.70 and a 12-month high of $77.68.

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

Brady Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Thursday, July 10th. Brady's payout ratio is currently 23.76%.

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.