C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes Position in Brady Co. (NYSE:BRC)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Brady Co. (NYSE:BRC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,279 shares of the industrial products company’s stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BRC. Swedbank AB purchased a new position in Brady in the 1st quarter worth about $13,439,000. DekaBank Deutsche Girozentrale increased its stake in Brady by 23.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 560,274 shares of the industrial products company’s stock worth $36,631,000 after buying an additional 106,652 shares during the period. Lord Abbett & CO. LLC increased its stake in Brady by 21.1% in the 1st quarter. Lord Abbett & CO. LLC now owns 610,505 shares of the industrial products company’s stock worth $36,190,000 after buying an additional 106,219 shares during the period. Thrivent Financial for Lutherans increased its stake in Brady by 231.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 132,019 shares of the industrial products company’s stock worth $8,716,000 after buying an additional 92,228 shares during the period. Finally, SG Americas Securities LLC increased its stake in Brady by 1,135.8% in the 2nd quarter. SG Americas Securities LLC now owns 65,211 shares of the industrial products company’s stock worth $4,305,000 after buying an additional 59,934 shares during the period. Hedge funds and other institutional investors own 76.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Brady from a “strong-buy” rating to a “buy” rating in a research note on Friday.

Insider Activity at Brady

In related news, COO Thomas F. Debruine sold 2,851 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $75.77, for a total transaction of $216,020.27. Following the completion of the transaction, the chief operating officer now directly owns 9,727 shares in the company, valued at $737,014.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Russell Shaller sold 21,128 shares of Brady stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $75.30, for a total transaction of $1,590,938.40. Following the sale, the chief executive officer now owns 102,150 shares of the company’s stock, valued at approximately $7,691,895. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Thomas F. Debruine sold 2,851 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $75.77, for a total transaction of $216,020.27. Following the completion of the sale, the chief operating officer now owns 9,727 shares in the company, valued at approximately $737,014.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,262 shares of company stock worth $3,371,231 over the last three months. Company insiders own 15.60% of the company’s stock.

Brady Price Performance

NYSE BRC opened at $73.93 on Friday. The company has a market cap of $3.51 billion, a PE ratio of 18.86, a P/E/G ratio of 3.49 and a beta of 0.76. Brady Co. has a 52-week low of $51.35 and a 52-week high of $76.97. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.69 and a current ratio of 2.27. The firm’s 50 day moving average price is $73.02 and its 200-day moving average price is $67.11.

Brady (NYSE:BRC) last announced its quarterly earnings results on Friday, September 6th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. Brady had a return on equity of 19.84% and a net margin of 14.70%. The business had revenue of $343.40 million for the quarter, compared to the consensus estimate of $351.74 million. During the same period last year, the business posted $1.04 EPS. The business’s revenue was down .7% compared to the same quarter last year. Sell-side analysts forecast that Brady Co. will post 4.55 EPS for the current fiscal year.

Brady Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, October 10th. This is a positive change from Brady’s previous quarterly dividend of $0.24. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.30%. Brady’s payout ratio is 24.49%.

About Brady

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.