Morgan Stanley Acquires 101,753 Shares of Brady Corp (NYSE:BRC)

Morgan Stanley boosted its holdings in Brady Corp (NYSE:BRC) by 68.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 251,018 shares of the industrial products company’s stock after acquiring an additional 101,753 shares during the quarter. Morgan Stanley owned 0.48% of Brady worth $12,380,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BRC. KBC Group NV bought a new position in Brady in the 2nd quarter valued at approximately $59,000. Krane Funds Advisors LLC bought a new position in Brady in the 2nd quarter valued at approximately $60,000. Advisors Preferred LLC bought a new position in Brady in the 2nd quarter valued at approximately $112,000. Contravisory Investment Management Inc. bought a new position in Brady in the 2nd quarter valued at approximately $126,000. Finally, First Citizens Bank & Trust Co. bought a new position in Brady in the 2nd quarter valued at approximately $208,000. 80.25% of the stock is currently owned by institutional investors and hedge funds.

NYSE BRC opened at $53.89 on Friday. The business’s fifty day moving average price is $51.29 and its 200-day moving average price is $49.26. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 2.69 and a beta of 0.92. Brady Corp has a 1-year low of $38.81 and a 1-year high of $56.42.

Brady (NYSE:BRC) last released its quarterly earnings results on Friday, September 6th. The industrial products company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. The firm had revenue of $295.30 million for the quarter, compared to analysts’ expectations of $298.90 million. Brady had a return on equity of 16.15% and a net margin of 11.31%. The company’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. As a group, analysts expect that Brady Corp will post 2.57 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.218 per share. This represents a $0.87 annualized dividend and a dividend yield of 1.62%. This is a boost from Brady’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, October 9th. Brady’s dividend payout ratio is presently 35.37%.

Several equities analysts recently issued reports on the company. ValuEngine cut Brady from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research raised Brady from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Wednesday, September 11th. Wells Fargo & Co set a $45.00 price target on Brady and gave the company a “hold” rating in a report on Friday, July 12th. Finally, Bank of America increased their price target on Brady from $46.00 to $49.00 and gave the company an “underperform” rating in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $49.25.

In other news, VP Thomas J. Felmer sold 1,142 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $53.95, for a total value of $61,610.90. Following the completion of the sale, the vice president now directly owns 66,813 shares in the company, valued at approximately $3,604,561.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank W. Harris sold 2,000 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $53.25, for a total value of $106,500.00. Following the completion of the sale, the director now owns 27,860 shares of the company’s stock, valued at $1,483,545. The disclosure for this sale can be found here. Insiders have sold a total of 117,136 shares of company stock worth $5,040,816 over the last three months. Insiders own 15.60% of the company’s stock.

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.

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Institutional Ownership by Quarter for Brady (NYSE:BRC)

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