Brady Corporation $BRC Stake Reduced by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group Inc. reduced its stake in Brady Corporation by 16.3%, selling 17,037 shares during Q1, leaving it with 87,400 shares valued at approximately $6.17 million.
• Brady Corporation reported $1.26 earnings per share (EPS) for the quarter, exceeding estimates and marking a 15.7% year-over-year revenue increase to $397.28 million.
• The company announced a dividend increase to $0.245 per share for the upcoming payment on October 31, raising its annual dividend yield to 1.2%.

Clark Capital Management Group Inc. decreased its holdings in Brady Corporation (NYSE:BRC - Free Report) by 16.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,400 shares of the industrial products company's stock after selling 17,037 shares during the period. Clark Capital Management Group Inc. owned 0.18% of Brady worth $6,174,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BRC. Neuberger Berman Group LLC boosted its stake in Brady by 196.6% in the 1st quarter. Neuberger Berman Group LLC now owns 1,614,375 shares of the industrial products company's stock worth $114,039,000 after purchasing an additional 1,070,000 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in Brady by 63.9% in the 1st quarter. Champlain Investment Partners LLC now owns 672,930 shares of the industrial products company's stock worth $47,536,000 after acquiring an additional 262,454 shares in the last quarter. GAMMA Investing LLC increased its holdings in Brady by 7,044.2% in the 1st quarter. GAMMA Investing LLC now owns 138,454 shares of the industrial products company's stock worth $9,780,000 after acquiring an additional 136,516 shares in the last quarter. Allianz Asset Management GmbH lifted its position in Brady by 29.7% in the first quarter. Allianz Asset Management GmbH now owns 516,499 shares of the industrial products company's stock worth $36,485,000 after buying an additional 118,133 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its stake in Brady by 183.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 96,171 shares of the industrial products company's stock worth $7,102,000 after purchasing an additional 62,191 shares during the period. 76.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BRC has been the subject of several recent analyst reports. 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 note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Strong Buy".

Brady Trading Down 0.3%

BRC stock traded down $0.21 during trading on Wednesday, reaching $78.32. 33,163 shares of the stock were exchanged, compared to its average volume of 221,087. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $72.51 and a 200-day moving average price of $70.80. Brady Corporation has a 1 year low of $62.70 and a 1 year high of $84.03. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 19.86 and a beta of 0.83.

Brady (NYSE:BRC - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The industrial products company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.02. The business had revenue of $397.28 million during the quarter, compared to the consensus estimate of $384.67 million. Brady had a net margin of 12.50% and a return on equity of 19.29%. The company's revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.19 EPS. Brady has set its FY 2026 guidance at 4.850-5.150 EPS. On average, research analysts predict that Brady Corporation will post 4.55 earnings per share for the current year.

Brady Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 10th will be issued a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a dividend yield of 1.3%. This is a positive change from Brady's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, October 10th. Brady's dividend payout ratio is presently 24.43%.

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.