Jupiter Asset Management Ltd. Sells 10,876 Shares of 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. reduced its stake in shares of Brady Corporation (NYSE:BRC - Free Report) by 4.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 224,713 shares of the industrial products company's stock after selling 10,876 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.47% of Brady worth $15,874,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. bought a new stake in shares of Brady during the 1st quarter worth $159,000. KBC Group NV lifted its holdings in shares of Brady by 33.7% during the 1st quarter. KBC Group NV now owns 2,391 shares of the industrial products company's stock worth $169,000 after acquiring an additional 602 shares during the last quarter. NBC Securities Inc. lifted its holdings in shares of Brady by 99,900.0% during the 1st quarter. NBC Securities Inc. now owns 3,000 shares of the industrial products company's stock worth $211,000 after acquiring an additional 2,997 shares during the last quarter. apricus wealth LLC bought a new stake in shares of Brady during the 1st quarter worth $218,000. Finally, Hancock Whitney Corp bought a new stake in shares of Brady during the 4th quarter worth $219,000. 76.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Brady Stock Performance

Brady stock opened at $70.25 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $3.32 billion, a PE ratio of 17.39 and a beta of 0.81. The firm has a fifty day simple moving average of $69.19 and a two-hundred day simple moving average of $70.63. Brady Corporation has a twelve month low of $62.70 and a twelve month high of $77.68.

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

Brady Dividend Announcement

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

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.

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