Brady Corporation $BRC Stock Bought by Hiddenite Capital Partners LP

Key Points

• Hiddenite Capital Partners increased its Brady stake by 35.7% in the third quarter, acquiring 40,000 additional shares and bringing its holdings to 151,935 shares valued at approximately $12.7 million.
• Institutional ownership remains substantial, with hedge funds and other institutions holding 76.28% of Brady’s stock; several investors increased or initiated positions during the quarter.
• Brady reported quarterly earnings and revenue slightly above analyst expectations, while analysts maintained a consensus “Buy” rating with a $103 price target. The company also raised its quarterly dividend to $0.25 per share.

Hiddenite Capital Partners LP raised its stake in Brady Corporation (NYSE:BRC - Free Report) by 35.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 151,935 shares of the industrial products company's stock after acquiring an additional 40,000 shares during the quarter. Brady makes up 2.3% of Hiddenite Capital Partners LP's portfolio, making the stock its 14th biggest holding. Hiddenite Capital Partners LP owned approximately 0.32% of Brady worth $12,685,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BRC. Mirae Asset Global Investments Co. Ltd. purchased a new position in Brady in the 3rd quarter valued at about $281,000. ProShare Advisors LLC purchased a new stake in shares of Brady during the third quarter worth about $8,838,000. Vise Technologies Inc. grew its holdings in shares of Brady by 8.0% during the third quarter. Vise Technologies Inc. now owns 9,008 shares of the industrial products company's stock worth $752,000 after buying an additional 668 shares in the last quarter. State of Wyoming grew its holdings in shares of Brady by 254.8% during the third quarter. State of Wyoming now owns 5,592 shares of the industrial products company's stock worth $467,000 after buying an additional 4,016 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Brady by 133.7% in the third quarter. Signaturefd LLC now owns 652 shares of the industrial products company's stock valued at $54,000 after buying an additional 373 shares during the last quarter. 76.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Brady news, COO Thomas DeBruine sold 5,739 shares of the stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $84.00, for a total transaction of $482,076.00. Following the transaction, the chief operating officer owned 7,523 shares of the company's stock, valued at $631,932. This trade represents a 43.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 15.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BRC shares. Wall Street Zen raised shares of Brady from a "hold" rating to a "buy" rating in a research note on Sunday, October 4th. Weiss Ratings cut shares of Brady from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, October 23rd. Two analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $103.00.

Brady Stock Up 2.5%

Shares of NYSE:BRC opened at $84.82 on Tuesday. The stock's 50-day moving average price is $85.74 and its two-hundred day moving average price is $87.00. The company has a current ratio of 1.94, a quick ratio of 1.30 and a debt-to-equity ratio of 0.01. Brady Corporation has a 12-month low of $70.57 and a 12-month high of $99.29. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 19.68 and a beta of 0.61.

Brady (NYSE:BRC - Get Free Report) last posted its quarterly earnings results on Thursday, September 3rd. The industrial products company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.47 by $0.01. The company had revenue of $436.90 million during the quarter, compared to analysts' expectations of $427.91 million. Brady had a return on equity of 19.21% and a net margin of 12.36%. The firm's revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.04 EPS. Brady has set its FY 2027 guidance at 6.250-6.750 EPS. On average, research analysts forecast that Brady Corporation will post 6.50 EPS for the current year.

Brady Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Friday, October 9th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.2%. This is a positive change from Brady's previous quarterly dividend of $0.2450. The ex-dividend date of this dividend was Friday, October 9th. Brady's dividend payout ratio (DPR) is currently 23.20%.

Brady Profile

Brady Corporation NYSE: BRC is a global manufacturer of identification and workplace safety solutions. Founded in 1914 as W.H. Brady Co in Milwaukee, Wisconsin, the company develops products that help organizations identify equipment, manage facilities, improve workplace safety and comply with operational requirements.

Its products include industrial and facility identification labels, signs, tags, safety and lockout products, wire and cable markers, barcode and RFID solutions, printers, software and specialty materials.

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