Victory Capital Management Inc. Sells 3,456 Shares of Brady Co. (NYSE:BRC)

Posted by Defense World Staff on Nov 2nd, 2023

Victory Capital Management Inc. lessened its stake in shares of Brady Co. (NYSE:BRC – Free Report) by 17.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,939 shares of the industrial products company’s stock after selling 3,456 shares during the quarter. Victory Capital Management Inc.’s holdings in Brady were worth $758,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp lifted its position in shares of Brady by 8.2% during the 3rd quarter. State Street Corp now owns 5,373,289 shares of the industrial products company’s stock worth $224,227,000 after buying an additional 409,452 shares during the period. Vanguard Group Inc. raised its position in Brady by 0.3% in the 1st 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 during the last quarter. Price T Rowe Associates Inc. MD raised its position in Brady by 8.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,009,621 shares of the industrial products company’s stock valued at $94,934,000 after purchasing an additional 148,426 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Brady by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,418,747 shares of the industrial products company’s stock valued at $76,227,000 after purchasing an additional 8,992 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Brady by 0.4% in the 1st quarter. Geode Capital Management LLC now owns 925,920 shares of the industrial products company’s stock valued at $49,750,000 after purchasing an additional 3,881 shares during the last quarter. Institutional investors own 71.30% of the company’s stock.

Insider Transactions at Brady

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

Brady Trading Up 1.0 %

BRC stock opened at $51.96 on Thursday. The company has a market cap of $2.51 billion, a P/E ratio of 14.80, a PEG ratio of 1.85 and a beta of 0.74. Brady Co. has a twelve month low of $44.56 and a twelve month high of $58.20. The company has a quick ratio of 1.35, a current ratio of 2.03 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $53.98 and a 200-day moving average of $51.23.

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

Brady Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 10th were given a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.81%. This is an increase from Brady’s previous quarterly dividend of $0.23. Brady’s payout ratio is presently 26.78%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. StockNews.com downgraded Brady from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 25th. Bank of America lifted their price objective on Brady from $47.00 to $51.00 in a research report on Wednesday, October 4th.

View Our Latest Report on BRC

Brady 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.