Teacher Retirement System of Texas Sells 66,850 Shares of Brady Corporation (NYSE:BRC)

Teacher Retirement System of Texas lowered its position in Brady Corporation (NYSE:BRC - Free Report) by 44.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,091 shares of the industrial products company's stock after selling 66,850 shares during the period. Teacher Retirement System of Texas owned approximately 0.17% of Brady worth $5,799,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in shares of Brady by 213.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 461 shares of the industrial products company's stock worth $34,000 after purchasing an additional 314 shares during the period. New Age Alpha Advisors LLC bought a new position in Brady in the fourth quarter worth about $156,000. KBC Group NV raised its holdings in shares of Brady by 33.7% during the first quarter. KBC Group NV now owns 2,391 shares of the industrial products company's stock valued at $169,000 after buying an additional 602 shares during the last quarter. NBC Securities Inc. increased its stake in shares of Brady by 99,900.0% during the first quarter. NBC Securities Inc. now owns 3,000 shares of the industrial products company's stock valued at $211,000 after acquiring an additional 2,997 shares during the period. Finally, apricus wealth LLC acquired a new position in shares of Brady during the first quarter valued at approximately $218,000. Institutional investors and hedge funds own 76.28% of the company's stock.

Brady Trading Up 0.4%

NYSE BRC traded up $0.26 during trading hours on Wednesday, hitting $69.21. The company's stock had a trading volume of 164,717 shares, compared to its average volume of 245,178. The stock has a fifty day moving average of $70.08 and a 200 day moving average of $71.12. Brady Corporation has a twelve month low of $62.70 and a twelve month high of $77.68. The firm has a market capitalization of $3.28 billion, a P/E ratio of 17.13 and a beta of 0.79. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.09.

Brady (NYSE:BRC - Get Free Report) last posted its 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. Brady had a net margin of 13.35% and a return on equity of 19.57%. The company had revenue of $382.59 million for the quarter, compared to analyst estimates of $386.61 million. During the same period last year, the business posted $1.09 earnings per share. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts forecast that Brady Corporation will post 4.55 earnings per share for the current fiscal year.

Brady Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, July 10th. Brady's dividend payout ratio (DPR) is presently 23.76%.

Analysts Set New Price Targets

Several equities analysts have weighed in on BRC shares. Wall Street Zen upgraded shares of Brady from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Sidoti raised shares of Brady to a "strong-buy" rating in a research 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.