TD Asset Management Inc. Acquires 25,500 Shares of Brady Corp (NYSE:BRC)

TD Asset Management Inc. raised its holdings in Brady Corp (NYSE:BRC) by 9.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 306,408 shares of the industrial products company’s stock after buying an additional 25,500 shares during the quarter. TD Asset Management Inc.’s holdings in Brady were worth $15,112,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. State of Alaska Department of Revenue increased its holdings in Brady by 1.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 16,777 shares of the industrial products company’s stock valued at $827,000 after buying an additional 219 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Brady by 1.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 19,252 shares of the industrial products company’s stock valued at $950,000 after buying an additional 300 shares during the period. Arizona State Retirement System increased its holdings in Brady by 0.6% in the 1st quarter. Arizona State Retirement System now owns 75,782 shares of the industrial products company’s stock valued at $3,517,000 after buying an additional 420 shares during the period. Quadrant Capital Group LLC increased its holdings in Brady by 107.7% in the 1st quarter. Quadrant Capital Group LLC now owns 920 shares of the industrial products company’s stock valued at $42,000 after buying an additional 477 shares during the period. Finally, Mason Street Advisors LLC increased its holdings in Brady by 3.8% in the 1st quarter. Mason Street Advisors LLC now owns 15,777 shares of the industrial products company’s stock valued at $732,000 after buying an additional 580 shares during the period. 80.55% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have issued reports on BRC shares. Zacks Investment Research raised shares of Brady from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Tuesday, July 2nd. ValuEngine lowered shares of Brady from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Co set a $45.00 target price on shares of Brady and gave the stock a “hold” rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $46.25.

Shares of BRC traded up $0.97 during trading hours on Friday, hitting $48.58. The stock had a trading volume of 130,400 shares, compared to its average volume of 272,612. The company’s fifty day moving average is $50.15 and its two-hundred day moving average is $48.02. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.03 and a quick ratio of 2.36. Brady Corp has a 52 week low of $37.75 and a 52 week high of $52.51. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 2.53 and a beta of 0.91.

Brady (NYSE:BRC) last posted its earnings results on Thursday, May 23rd. The industrial products company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.09. Brady had a net margin of 11.15% and a return on equity of 15.85%. The business had revenue of $289.75 million for the quarter, compared to analyst estimates of $292.66 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities analysts predict that Brady Corp will post 2.4 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were issued a $0.2125 dividend. This represents a $0.85 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Tuesday, July 9th. Brady’s payout ratio is 41.67%.

In other news, SVP Louis T. Bolognini sold 9,288 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $51.08, for a total value of $474,431.04. Following the sale, the senior vice president now owns 31,484 shares of the company’s stock, valued at approximately $1,608,202.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Louis T. Bolognini sold 1,000 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $48.50, for a total transaction of $48,500.00. Following the completion of the sale, the senior vice president now directly owns 29,208 shares in the company, valued at approximately $1,416,588. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,367 shares of company stock worth $2,074,875. 15.60% of the stock is owned by insiders.

Brady 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 IDS segment offers safety signs, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials and printing systems for product identification, brand protection labeling, work in process labeling, and finished product identification; and hand-held printers, wire markers, sleeves, and tags for wire identification, as well as software and services for safety compliance auditing, procedure writing, and training.

Read More: Equity Income

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Institutional Ownership by Quarter for Brady (NYSE:BRC)

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