T. Rowe Price Investment Management Inc. Sells 148,779 Shares of Brady Corporation $BRC

Key Points

• T. Rowe Price Investment Management Inc. has reduced its stake in Brady Corporation by 14.6%, now holding 869,018 shares worth approximately $61.4 million.
• A significant portion, 76.28%, of Brady Corporation's stock is owned by hedge funds and institutional investors, indicating strong institutional interest.
• Wall Street analysts have rated Brady as a "Strong Buy," with multiple firms upgrading their ratings recently, suggesting positive future growth potential.

T. Rowe Price Investment Management Inc. lowered its stake in Brady Corporation (NYSE:BRC - Free Report) by 14.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 869,018 shares of the industrial products company's stock after selling 148,779 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 1.82% of Brady worth $61,388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Capital Fund Management S.A. bought a new position in shares of Brady in the first quarter worth about $2,214,000. Quantbot Technologies LP bought a new position in shares of Brady in the first quarter worth about $399,000. Northern Trust Corp raised its stake in shares of Brady by 1.7% in the first quarter. Northern Trust Corp now owns 216,892 shares of the industrial products company's stock worth $15,321,000 after buying an additional 3,572 shares during the period. Versor Investments LP bought a new position in shares of Brady in the first quarter worth about $343,000. Finally, Liontrust Investment Partners LLP bought a new stake in Brady during the 1st quarter valued at approximately $783,000. Institutional investors own 76.28% of the company's stock.

Brady Price Performance

NYSE:BRC traded down $0.29 during trading hours on Tuesday, reaching $76.32. The stock had a trading volume of 344,613 shares, compared to its average volume of 222,845. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.26 and a current ratio of 1.87. Brady Corporation has a 52 week low of $62.70 and a 52 week high of $77.68. The company has a 50 day moving average price of $70.09 and a two-hundred day moving average price of $70.37. The stock has a market capitalization of $3.61 billion, a PE ratio of 18.89 and a beta of 0.81.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Sidoti raised Brady to a "strong-buy" rating in a research note on Monday, May 19th. Wall Street Zen raised Brady from a "hold" rating to a "buy" rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Brady has an average rating of "Strong Buy".

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.