Seizert Capital Partners LLC Sells 52,483 Shares of Brady Corporation (NYSE:BRC)

Key Points

• Seizert Capital Partners LLC reduced its stake in Brady Corporation by 42.6% in the first quarter, now holding 70,713 shares valued at approximately $4.995 million.
• Brady Corporation reported earnings of $1.22 EPS for the last quarter, matching analysts' expectations but falling short of revenue forecasts with $382.59 million compared to the anticipated $386.61 million.
• The company declared a quarterly dividend of $0.24 per share, with a yield of 1.35% and a payout ratio of 23.76%, to be paid on July 31st.

Seizert Capital Partners LLC lowered its holdings in Brady Corporation (NYSE:BRC - Free Report) by 42.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,713 shares of the industrial products company's stock after selling 52,483 shares during the period. Seizert Capital Partners LLC owned approximately 0.15% of Brady worth $4,995,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Brady by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 5,215,225 shares of the industrial products company's stock valued at $385,144,000 after purchasing an additional 31,096 shares during the last quarter. FMR LLC boosted its position in shares of Brady by 40.4% during the fourth quarter. FMR LLC now owns 3,733,810 shares of the industrial products company's stock worth $275,742,000 after purchasing an additional 1,074,885 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Brady by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,443,594 shares of the industrial products company's stock valued at $106,608,000 after acquiring an additional 7,258 shares in the last quarter. Renaissance Technologies LLC lifted its position in Brady by 2.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,152,340 shares of the industrial products company's stock valued at $85,100,000 after acquiring an additional 22,400 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Brady by 9.7% in the 4th quarter. Invesco Ltd. now owns 686,923 shares of the industrial products company's stock valued at $50,729,000 after buying an additional 60,737 shares during the last quarter. 76.28% of the stock is owned by institutional investors and hedge funds.

Brady Stock Performance

BRC stock traded down $0.32 during mid-day trading on Friday, hitting $70.25. The company had a trading volume of 122,682 shares, compared to its average volume of 152,515. The stock's fifty day moving average price is $69.19 and its two-hundred day moving average price is $70.63. Brady Corporation has a 12 month low of $62.70 and a 12 month high of $77.68. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.26 and a current ratio of 1.87. The firm has a market cap of $3.32 billion, a PE ratio of 17.39 and a beta of 0.81.

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

Brady Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 10th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Thursday, July 10th. Brady's dividend payout ratio is currently 23.76%.

Analysts Set New Price Targets

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

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.