Envestnet Asset Management Inc. Boosts Stake in Brady Corporation (NYSE:BRC)

Key Points

• Envestnet Asset Management Inc. increased its position in Brady Corporation by 45.3%, acquiring an additional 5,793 shares, bringing its total holdings to 18,572 shares worth approximately $1.31 million.
• Brady Corporation recently announced a $0.24 quarterly dividend, resulting in an annualized dividend yield of 1.4% and a payout ratio of 23.76%.
• Analysts have upgraded Brady's stock rating, with a notable increase to a "strong-buy" rating from Sidoti, indicating positive sentiment towards the company's performance and outlook.

Envestnet Asset Management Inc. raised its position in shares of Brady Corporation (NYSE:BRC - Free Report) by 45.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,572 shares of the industrial products company's stock after purchasing an additional 5,793 shares during the period. Envestnet Asset Management Inc.'s holdings in Brady were worth $1,312,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Brady by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 5,215,225 shares of the industrial products company's stock worth $385,144,000 after buying an additional 31,096 shares in the last quarter. FMR LLC increased its holdings 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 buying an additional 1,074,885 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Brady by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,443,594 shares of the industrial products company's stock worth $106,608,000 after purchasing an additional 7,258 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Brady by 2.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,152,340 shares of the industrial products company's stock worth $85,100,000 after purchasing an additional 22,400 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Brady by 9.7% in the fourth quarter. Invesco Ltd. now owns 686,923 shares of the industrial products company's stock worth $50,729,000 after purchasing an additional 60,737 shares during the last quarter. 76.28% of the stock is currently owned by institutional investors and hedge funds.

Brady Stock Down 0.5%

Shares of NYSE BRC traded down $0.32 during trading on Friday, hitting $70.25. 122,682 shares of the company traded hands, compared to its average volume of 152,515. The business's fifty day moving average is $69.19 and its 200 day moving average is $70.64. Brady Corporation has a fifty-two week low of $62.70 and a fifty-two week high of $77.68. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 17.39 and a beta of 0.79. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.26 and a current ratio of 1.87.

Brady (NYSE:BRC - Get Free Report) last posted its earnings results on Friday, May 16th. The industrial products company reported $1.22 earnings per share 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 company had revenue of $382.59 million for the quarter, compared to analyst estimates of $386.61 million. During the same quarter in the prior year, the business posted $1.09 EPS. The firm's revenue was up 11.4% compared to the same quarter last year. Equities research analysts predict that Brady Corporation will post 4.55 earnings per share for the current fiscal year.

Brady Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th were paid a $0.24 dividend. The ex-dividend date was Thursday, July 10th. This represents a $0.96 annualized dividend and a yield of 1.4%. Brady's dividend payout ratio (DPR) is 23.76%.

Wall Street Analysts Forecast Growth

BRC has been the topic of a number of research analyst reports. Sidoti raised shares of Brady to a "strong-buy" rating in a research report on Monday, May 19th. Wall Street Zen raised shares of Brady from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th.

Brady Company 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.