Jupiter Asset Management Ltd. Has $15.87 Million Stake in Brady Corporation (NYSE:BRC)

Key Points

• Jupiter Asset Management Ltd. reduced its stake in Brady Corporation by 4.6%, selling 10,876 shares and now owning approximately 224,713 shares worth around $15.87 million.
• Several other hedge funds have recently increased their positions in Brady, with KBC Group NV raising its holdings by 33.7% and NBC Securities Inc. increasing its stake by an impressive 99,900%.
• Brady Corporation's stock received positive ratings upgrades from analysts, with Wall Street Zen upgrading it from "hold" to "buy" and Sidoti labeling it a "strong-buy."

Jupiter Asset Management Ltd. trimmed its holdings in Brady Corporation (NYSE:BRC - Free Report) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 224,713 shares of the industrial products company's stock after selling 10,876 shares during the period. Jupiter Asset Management Ltd. owned about 0.47% of Brady worth $15,874,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BRC. Victory Capital Management Inc. boosted its position in shares of Brady by 1.2% during the first quarter. Victory Capital Management Inc. now owns 18,509 shares of the industrial products company's stock worth $1,307,000 after buying an additional 215 shares during the period. Ariel Investments LLC boosted its position in shares of Brady by 6.1% during the fourth quarter. Ariel Investments LLC now owns 3,840 shares of the industrial products company's stock worth $284,000 after buying an additional 220 shares during the period. NDVR Inc. boosted its position in shares of Brady by 7.6% during the fourth quarter. NDVR Inc. now owns 3,883 shares of the industrial products company's stock worth $287,000 after buying an additional 274 shares during the period. Bank of Montreal Can raised its holdings in Brady by 11.2% during the fourth quarter. Bank of Montreal Can now owns 5,670 shares of the industrial products company's stock worth $419,000 after acquiring an additional 572 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in Brady by 4.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,828 shares of the industrial products company's stock worth $947,000 after acquiring an additional 586 shares in the last quarter. 76.28% of the stock is owned by institutional investors and hedge funds.

Brady Stock Performance

NYSE:BRC traded up $0.18 on Thursday, hitting $70.95. The company's stock had a trading volume of 1,830 shares, compared to its average volume of 228,637. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.09. The stock has a fifty day moving average of $69.25 and a two-hundred day moving average of $70.60. The firm has a market capitalization of $3.36 billion, a P/E ratio of 17.56 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 quarterly earnings data 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 quarter in the prior year, the company earned $1.09 earnings per share. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. Research analysts predict that Brady Corporation will post 4.55 earnings per share for the current year.

Brady Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th were given 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 is presently 23.76%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BRC. Wall Street Zen upgraded Brady from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Sidoti upgraded Brady to a "strong-buy" rating in a report on Monday, May 19th.

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.