Arizona State Retirement System Grows Holdings in Brady Co. (NYSE:BRC)

Posted by Defense World Staff on May 18th, 2023

Arizona State Retirement System grew its stake in Brady Co. (NYSE:BRC – Get Rating) by 3.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 13,174 shares of the industrial products company’s stock after acquiring an additional 487 shares during the period. Arizona State Retirement System’s holdings in Brady were worth $620,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Citigroup Inc. grew its holdings in shares of Brady by 24.2% in the first quarter. Citigroup Inc. now owns 52,649 shares of the industrial products company’s stock valued at $2,436,000 after purchasing an additional 10,272 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Brady by 55.7% in the first quarter. MetLife Investment Management LLC now owns 26,111 shares of the industrial products company’s stock valued at $1,208,000 after purchasing an additional 9,339 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Brady by 0.8% in the first quarter. Rhumbline Advisers now owns 136,008 shares of the industrial products company’s stock valued at $6,293,000 after purchasing an additional 1,108 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Brady by 13.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,633 shares of the industrial products company’s stock valued at $1,926,000 after purchasing an additional 4,955 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Brady by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,332,099 shares of the industrial products company’s stock valued at $246,716,000 after purchasing an additional 17,763 shares in the last quarter. 77.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Elizabeth P. Bruno sold 8,500 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $54.02, for a total value of $459,170.00. Following the completion of the transaction, the director now owns 359,019 shares in the company, valued at approximately $19,394,206.38. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 15.60% of the company’s stock.

Brady Trading Up 1.0 %

NYSE BRC opened at $51.19 on Thursday. The company has a quick ratio of 1.34, a current ratio of 2.19 and a debt-to-equity ratio of 0.08. Brady Co. has a 52 week low of $40.52 and a 52 week high of $56.35. The stock has a market capitalization of $2.54 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 2.10 and a beta of 0.79. The firm has a 50 day moving average of $51.83 and a two-hundred day moving average of $50.44.

Brady (NYSE:BRC – Get Rating) last posted its quarterly earnings results on Friday, February 24th. The industrial products company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.78 by $0.03. Brady had a net margin of 12.09% and a return on equity of 18.44%. The company had revenue of $326.20 million during the quarter, compared to analysts’ expectations of $319.39 million. During the same quarter in the previous year, the business posted $0.70 EPS. The firm’s revenue was up 2.5% on a year-over-year basis. As a group, research analysts expect that Brady Co. will post 3.45 EPS for the current fiscal year.

Brady Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Monday, April 10th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Thursday, April 6th. Brady’s payout ratio is 29.30%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Brady in a report on Thursday. They set a “buy” rating for the company.

Brady Profile

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Brady Corp. engages in the manufacture and market of specialty materials and identification solutions that determines and protects premises, products, and people. The firm operates through the Identification Solutions (IDS) and Workplace Safety (WPS) segments. The IDS segment offers industrial and healthcare identification products.