Neuberger Berman Group LLC Has $114.04 Million Holdings in Brady Corporation (NYSE:BRC)

Key Points

• Neuberger Berman Group LLC significantly increased its stake in Brady Corporation by 196.6%, acquiring an additional 1,070,000 shares, bringing its total holdings to approximately 1.6 million shares valued at $114 million.
• Other institutional investors, including KBC Group NV and Bessemer Group Inc., also increased their stakes in Brady, reflecting a growing institutional interest as 76.28% of the company's stock is held by institutional investors.
• Brady Corporation reported a quarterly earnings per share (EPS) of $1.22, matching analyst estimates, with a year-over-year revenue increase of 11.4% despite falling short of expectations.

Neuberger Berman Group LLC lifted its holdings in Brady Corporation (NYSE:BRC - Free Report) by 196.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,614,375 shares of the industrial products company's stock after acquiring an additional 1,070,000 shares during the quarter. Neuberger Berman Group LLC owned approximately 3.38% of Brady worth $114,039,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BRC. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Brady in the first quarter valued at approximately $74,000. Pacer Advisors Inc. acquired a new stake in shares of Brady in the 1st quarter valued at $159,000. KBC Group NV raised its position in shares of Brady by 33.7% during the first quarter. KBC Group NV now owns 2,391 shares of the industrial products company's stock worth $169,000 after acquiring an additional 602 shares during the last quarter. Hancock Whitney Corp acquired a new position in shares of Brady during the fourth quarter valued at $219,000. Finally, NBC Securities Inc. boosted its holdings in Brady by 99,900.0% in the first quarter. NBC Securities Inc. now owns 3,000 shares of the industrial products company's stock valued at $211,000 after acquiring an additional 2,997 shares during the last quarter. 76.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on BRC. Sidoti upgraded shares of Brady to a "strong-buy" rating in a research report on Monday, May 19th. Wall Street Zen downgraded shares of Brady from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th.

Brady Trading Down 0.4%

Shares of Brady stock traded down $0.26 on Friday, hitting $72.40. 129,563 shares of the company's stock traded hands, compared to its average volume of 137,485. The firm's 50-day moving average price is $69.47 and its two-hundred day moving average price is $70.40. 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 stock has a market capitalization of $3.43 billion, a PE ratio of 17.92 and a beta of 0.81. Brady Corporation has a one year low of $62.70 and a one year high of $77.68.

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

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.