Exchange Traded Concepts LLC Buys 517 Shares of Brady Co. (NYSE:BRC)

Posted by Defense World Staff on Oct 12th, 2023

Exchange Traded Concepts LLC grew its stake in shares of Brady Co. (NYSE:BRC – Free Report) by 86.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,113 shares of the industrial products company’s stock after purchasing an additional 517 shares during the period. Exchange Traded Concepts LLC’s holdings in Brady were worth $53,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Advisory Services Network LLC bought a new stake in Brady during the first quarter worth about $28,000. Belpointe Asset Management LLC boosted its stake in Brady by 27.1% during the first quarter. Belpointe Asset Management LLC now owns 1,456 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 310 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Brady by 14.4% during the first quarter. Lazard Asset Management LLC now owns 2,232 shares of the industrial products company’s stock worth $103,000 after acquiring an additional 281 shares in the last quarter. Point72 Hong Kong Ltd boosted its stake in Brady by 740.0% during the first quarter. Point72 Hong Kong Ltd now owns 2,814 shares of the industrial products company’s stock worth $130,000 after acquiring an additional 2,479 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in Brady by 55.8% during the first quarter. Captrust Financial Advisors now owns 3,372 shares of the industrial products company’s stock worth $156,000 after acquiring an additional 1,208 shares in the last quarter. Institutional investors own 71.30% of the company’s stock.

Insider Activity

In other news, VP Bentley Curran sold 6,209 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $55.96, for a total transaction of $347,455.64. Following the completion of the transaction, the vice president now directly owns 15,462 shares of the company’s stock, valued at $865,253.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Bentley Curran sold 6,209 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $55.96, for a total transaction of $347,455.64. Following the completion of the transaction, the vice president now directly owns 15,462 shares of the company’s stock, valued at $865,253.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nancy Lee Gioia sold 4,250 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $55.82, for a total transaction of $237,235.00. Following the sale, the director now directly owns 11,456 shares of the company’s stock, valued at $639,473.92. The disclosure for this sale can be found here. 15.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on BRC. StockNews.com began coverage on shares of Brady in a research note on Thursday, October 5th. They set a “strong-buy” rating on the stock. Bank of America upped their target price on shares of Brady from $47.00 to $51.00 in a research note on Wednesday, October 4th.

Get Our Latest Research Report on BRC

Brady Trading Up 0.3 %

Shares of NYSE BRC opened at $55.68 on Thursday. The firm’s 50 day moving average price is $53.04 and its 200-day moving average price is $51.16. The company has a market cap of $2.69 billion, a PE ratio of 15.86, a P/E/G ratio of 1.98 and a beta of 0.74. Brady Co. has a 52-week low of $40.52 and a 52-week high of $58.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.35 and a current ratio of 2.03.

Brady (NYSE:BRC – Get Free Report) last issued its earnings results on Tuesday, September 5th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.11. The firm had revenue of $345.90 million for the quarter, compared to the consensus estimate of $329.29 million. Brady had a net margin of 13.13% and a return on equity of 18.78%. The business’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.87 earnings per share. On average, equities research analysts expect that Brady Co. will post 4 EPS for the current fiscal year.

Brady Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.69%. This is a boost from Brady’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, October 6th. Brady’s payout ratio is presently 26.78%.

Brady Company Profile

(Free Report)

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.