Lazard Asset Management LLC Sells 45,869 Shares of Brady Corporation $BRC

Key Points

• Lazard Asset Management cut its Brady position by 85.2%, selling 45,869 shares and retaining 7,937 shares valued at approximately $645,000. Institutional investors collectively own 76.28% of the stock.
• Other investors increased their holdings, while CEO Vineet A. Nargolwala purchased 13,011 shares for about $1 million, raising his ownership by 32.77%.
• Brady reported quarterly earnings of $1.50 per share and revenue of $435.24 million, beating estimates and posting 13.7% year-over-year revenue growth. Analysts maintain a consensus “Buy” rating with a $103 price target, while the company pays a $0.245 quarterly dividend.

Lazard Asset Management LLC reduced its position in shares of Brady Corporation (NYSE:BRC - Free Report) by 85.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 7,937 shares of the industrial products company's stock after selling 45,869 shares during the quarter. Lazard Asset Management LLC's holdings in Brady were worth $645,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BRC. Royal Bank of Canada raised its stake in Brady by 380.3% during the first quarter. Royal Bank of Canada now owns 6,451 shares of the industrial products company's stock valued at $456,000 after purchasing an additional 5,108 shares in the last quarter. Millennium Management LLC grew its stake in shares of Brady by 1,256.9% in the 1st quarter. Millennium Management LLC now owns 185,182 shares of the industrial products company's stock worth $13,081,000 after buying an additional 171,535 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Brady by 282.3% in the 1st quarter. NewEdge Advisors LLC now owns 1,644 shares of the industrial products company's stock worth $116,000 after buying an additional 1,214 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Brady by 7.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 126,953 shares of the industrial products company's stock worth $8,968,000 after buying an additional 8,716 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Brady by 89.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 684 shares of the industrial products company's stock valued at $46,000 after buying an additional 322 shares in the last quarter. 76.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Brady news, CEO Vineet A. Nargolwala bought 13,011 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was acquired at an average cost of $76.86 per share, for a total transaction of $1,000,025.46. Following the completion of the transaction, the chief executive officer owned 52,709 shares in the company, valued at $4,051,213.74. This trade represents a 32.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 15.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BRC has been the subject of several recent research reports. Wall Street Zen upgraded Brady from a "hold" rating to a "buy" rating in a research report on Saturday, May 23rd. Weiss Ratings lowered Brady from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, May 13th. Finally, Sidoti upgraded Brady from a "neutral" rating to a "buy" rating and set a $103.00 target price for the company in a report on Tuesday, June 9th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Brady has an average rating of "Buy" and a consensus target price of $103.00.

Brady Stock Performance

Shares of NYSE:BRC opened at $98.28 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.36 and a debt-to-equity ratio of 0.02. Brady Corporation has a 12 month low of $69.51 and a 12 month high of $99.29. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 22.39 and a beta of 0.61. The firm's 50-day moving average is $89.73 and its 200 day moving average is $87.00.

Brady (NYSE:BRC - Get Free Report) last announced its quarterly earnings data on Monday, May 18th. The industrial products company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.15. Brady had a net margin of 12.93% and a return on equity of 19.01%. The business had revenue of $435.24 million during the quarter, compared to the consensus estimate of $406.07 million. During the same quarter last year, the firm earned $1.22 earnings per share. The firm's quarterly revenue was up 13.7% compared to the same quarter last year. Brady has set its FY 2026 guidance at 5.200-5.300 EPS. Research analysts predict that Brady Corporation will post 5.25 EPS for the current year.

Brady Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 10th were paid a $0.245 dividend. The ex-dividend date was Friday, July 10th. This represents a $0.98 dividend on an annualized basis and a yield of 1.0%. Brady's dividend payout ratio (DPR) is presently 22.32%.

Brady Company Profile

Brady Corporation is a global provider of identification and safety solutions, specializing in the design, manufacture and sale of products that help businesses improve safety, security and efficiency. The company offers an array of durable labels, signs, safety devices, printing systems and software platforms tailored to a wide range of industrial and commercial environments.

Founded in 1914 by William H. Brady, Brady Corporation has grown from a regional marker manufacturer into a diversified global enterprise.

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