Lord Abbett & CO. LLC Has $38.99 Million Stake in Brady Corporation $BRC

Key Points

• Lord Abbett & CO. LLC reduced its stake in Brady Corporation by 10.1%, retaining about 1.16% ownership worth $38.99 million as of the latest SEC filing.
• Brady Corporation reported earnings of $1.22 EPS for the most recent quarter, meeting analyst expectations, with a year-over-year revenue increase of 11.4%.
• Several large investors significantly increased their holdings in Brady during the first quarter, including Neuberger Berman Group, which grew its stake by 196.6%.

Lord Abbett & CO. LLC reduced its position in Brady Corporation (NYSE:BRC - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 551,963 shares of the industrial products company's stock after selling 61,931 shares during the quarter. Lord Abbett & CO. LLC owned about 1.16% of Brady worth $38,991,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Neuberger Berman Group LLC raised its position in shares of Brady by 196.6% during the 1st quarter. Neuberger Berman Group LLC now owns 1,614,375 shares of the industrial products company's stock worth $114,039,000 after acquiring an additional 1,070,000 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Brady in the first quarter valued at approximately $74,000. Public Sector Pension Investment Board boosted its stake in shares of Brady by 27.7% in the first quarter. Public Sector Pension Investment Board now owns 140,204 shares of the industrial products company's stock valued at $9,904,000 after buying an additional 30,418 shares in the last quarter. Entropy Technologies LP purchased a new stake in Brady during the first quarter worth $598,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Brady by 10.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 498,670 shares of the industrial products company's stock valued at $35,226,000 after acquiring an additional 48,522 shares during the last quarter. 76.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BRC. Sidoti upgraded Brady to a "strong-buy" rating in a research report on Monday, May 19th. Wall Street Zen lowered Brady from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Brady has an average rating of "Strong Buy".

Brady Stock Up 0.5%

BRC stock traded up $0.3490 during mid-day trading on Tuesday, hitting $73.2190. The stock had a trading volume of 48,061 shares, compared to its average volume of 223,703. 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 market capitalization of $3.46 billion, a price-to-earnings ratio of 18.12 and a beta of 0.81. The company has a fifty day moving average of $69.52 and a 200 day moving average of $70.36. Brady Corporation has a 1-year low of $62.70 and a 1-year high of $77.68.

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

Brady 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.