Brady Corporation (NYSE:BRC) Stake Lowered by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS has sold 4,200 shares of Brady Corporation, reducing its ownership by 18.6% to 18,400 shares worth $1.3 million.
• Brady Corporation recently reported earnings per share of $1.22, meeting analyst expectations, but revenue of $382.59 million fell short of estimates.
• The company declared a quarterly dividend of $0.24 per share, with a yield of 1.37%, and plans to pay it to investors of record on July 10th.

KLP Kapitalforvaltning AS decreased its stake in shares of Brady Corporation (NYSE:BRC - Free Report) by 18.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,400 shares of the industrial products company's stock after selling 4,200 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Brady were worth $1,300,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Brady by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 5,215,225 shares of the industrial products company's stock valued at $385,144,000 after purchasing an additional 31,096 shares during the period. FMR LLC grew its holdings in Brady by 40.4% during the 4th quarter. FMR LLC now owns 3,733,810 shares of the industrial products company's stock valued at $275,742,000 after buying an additional 1,074,885 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Brady by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,443,594 shares of the industrial products company's stock valued at $106,608,000 after buying an additional 7,258 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Brady by 2.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,152,340 shares of the industrial products company's stock valued at $85,100,000 after buying an additional 22,400 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Brady by 9.7% during 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. Hedge funds and other institutional investors own 76.28% of the company's stock.

Brady Stock Performance

BRC stock traded up $0.03 during midday trading on Thursday, reaching $70.48. The company had a trading volume of 18,157 shares, compared to its average volume of 231,774. 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 stock has a 50 day moving average price of $69.15 and a 200 day moving average price of $70.67. 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 $3.34 billion, a PE ratio of 17.45 and a beta of 0.79.

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

Brady Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th will be issued a $0.24 dividend. The ex-dividend date is Thursday, July 10th. This represents a $0.96 annualized dividend and a dividend yield of 1.36%. Brady's dividend payout ratio is currently 23.76%.

Wall Street Analyst Weigh In

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

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.