Envestnet Asset Management Inc. Acquires 5,793 Shares of 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. lifted its stake in shares of Brady Corporation (NYSE:BRC - Free Report) by 45.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,572 shares of the industrial products company's stock after buying an additional 5,793 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Brady were worth $1,312,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of Brady by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 217,290 shares of the industrial products company's stock worth $15,349,000 after buying an additional 6,116 shares in the last quarter. Hudson Edge Investment Partners Inc. purchased a new position in shares of Brady during the first quarter valued at $886,000. KBC Group NV grew its holdings 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 valued at $169,000 after buying an additional 602 shares in the last quarter. Diversified Trust Co grew its holdings in shares of Brady by 28.6% during the first quarter. Diversified Trust Co now owns 13,405 shares of the industrial products company's stock valued at $947,000 after buying an additional 2,982 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Brady by 2.8% during the first quarter. Robeco Institutional Asset Management B.V. now owns 182,361 shares of the industrial products company's stock valued at $12,882,000 after buying an additional 5,037 shares in the last quarter. Institutional investors and hedge funds own 76.28% of the company's stock.

Wall Street Analysts Forecast Growth

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

Brady Stock Performance

Shares of NYSE BRC traded up $0.69 during trading hours on Monday, hitting $70.96. 33,749 shares of the company's stock were exchanged, compared to its average volume of 230,919. Brady Corporation has a 1-year low of $62.70 and a 1-year high of $77.68. 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 $3.36 billion, a price-to-earnings ratio of 17.58 and a beta of 0.81. The company's 50-day moving average price is $69.19 and its 200-day moving average price is $70.61.

Brady (NYSE:BRC - Get Free Report) last issued its quarterly earnings results on Friday, May 16th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.22. Brady had a return on equity of 19.57% and a net margin of 13.35%. The firm had revenue of $382.59 million for the quarter, compared to analyst estimates of $386.61 million. During the same period in the previous year, the company posted $1.09 earnings per share. The company's quarterly revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts expect 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. Shareholders of record on Thursday, July 10th were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $0.96 annualized dividend and a dividend yield of 1.4%. Brady's dividend payout ratio (DPR) is currently 23.76%.

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.