Vaughan Nelson Investment Management L.P. Invests $30.87 Million in Brady Corp (BRC) Stock

Vaughan Nelson Investment Management L.P. purchased a new position in Brady Corp (NYSE:BRC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 705,675 shares of the industrial products company’s stock, valued at approximately $30,874,000. Vaughan Nelson Investment Management L.P. owned approximately 1.36% of Brady at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BRC. BlackRock Inc. lifted its stake in Brady by 2.8% in the third quarter. BlackRock Inc. now owns 6,865,328 shares of the industrial products company’s stock worth $300,357,000 after purchasing an additional 186,243 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Brady by 6.9% in the second quarter. Renaissance Technologies LLC now owns 1,948,600 shares of the industrial products company’s stock worth $75,119,000 after purchasing an additional 125,600 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Brady by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,823,061 shares of the industrial products company’s stock worth $70,279,000 after purchasing an additional 45,173 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Brady by 12.9% in the second quarter. Wells Fargo & Company MN now owns 1,413,776 shares of the industrial products company’s stock worth $54,501,000 after purchasing an additional 161,439 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Brady by 4.7% in the third quarter. Bank of New York Mellon Corp now owns 808,918 shares of the industrial products company’s stock worth $35,391,000 after purchasing an additional 36,565 shares during the last quarter. Institutional investors own 77.13% of the company’s stock.

Shares of NYSE BRC opened at $42.65 on Monday. The company has a quick ratio of 2.09, a current ratio of 2.72 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 2.49 and a beta of 1.22. Brady Corp has a 1 year low of $35.00 and a 1 year high of $47.35.

Brady (NYSE:BRC) last posted its quarterly earnings results on Thursday, November 15th. The industrial products company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.06. Brady had a net margin of 8.15% and a return on equity of 15.01%. The firm had revenue of $293.20 million during the quarter, compared to the consensus estimate of $295.67 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. On average, sell-side analysts predict that Brady Corp will post 2.28 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Thursday, January 10th will be paid a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Wednesday, January 9th. Brady’s dividend payout ratio is presently 41.67%.

In other news, VP Thomas J. Felmer sold 3,703 shares of Brady stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $43.76, for a total transaction of $162,043.28. Following the completion of the sale, the vice president now owns 58,330 shares of the company’s stock, valued at $2,552,520.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas J. Felmer sold 35,000 shares of Brady stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $42.71, for a total transaction of $1,494,850.00. Following the sale, the vice president now directly owns 93,115 shares of the company’s stock, valued at approximately $3,976,941.65. The disclosure for this sale can be found here. Insiders have sold 181,281 shares of company stock valued at $7,913,313 in the last ninety days. Insiders own 15.60% of the company’s stock.

Several analysts have issued reports on the stock. SunTrust Banks reissued a “hold” rating and issued a $43.00 price objective on shares of Brady in a research note on Monday, November 19th. Sidoti downgraded shares of Brady from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 18th. Zacks Investment Research raised shares of Brady from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Monday, September 17th. Bank of America set a $42.00 price objective on shares of Brady and gave the stock a “sell” rating in a research note on Monday, September 17th. Finally, ValuEngine raised shares of Brady from a “hold” rating to a “buy” rating in a research note on Thursday, September 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $45.67.

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Brady Company 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.

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Institutional Ownership by Quarter for Brady (NYSE:BRC)

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