California Public Employees Retirement System Buys 22,010 Shares of Brady Co. (NYSE:BRC)

California Public Employees Retirement System grew its stake in Brady Co. (NYSE:BRC) by 20.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,629 shares of the industrial products company’s stock after acquiring an additional 22,010 shares during the quarter. California Public Employees Retirement System’s holdings in Brady were worth $6,794,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Sowell Financial Services LLC acquired a new position in Brady during the fourth quarter valued at approximately $98,000. Point72 Hong Kong Ltd raised its holdings in Brady by 168.4% in the third quarter. Point72 Hong Kong Ltd now owns 3,618 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 2,270 shares during the period. Creative Planning bought a new position in shares of Brady during the fourth quarter worth $212,000. Crossmark Global Holdings Inc. bought a new position in shares of Brady during the fourth quarter worth $247,000. Finally, Harvest Investment Services LLC acquired a new position in shares of Brady in the 4th quarter valued at $252,000. Institutional investors and hedge funds own 74.85% of the company’s stock.

NYSE BRC opened at $51.82 on Tuesday. Brady Co. has a 52 week low of $33.00 and a 52 week high of $54.70. The stock’s 50 day moving average price is $50.47 and its two-hundred day moving average price is $46.34. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 2.84 and a beta of 0.79.

Brady (NYSE:BRC) last posted its quarterly earnings data on Wednesday, February 17th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.02). Brady had a net margin of 10.11% and a return on equity of 13.80%. Sell-side analysts forecast that Brady Co. will post 2.57 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Shareholders of record on Friday, April 9th will be paid a $0.22 dividend. The ex-dividend date is Thursday, April 8th. This represents a $0.88 annualized dividend and a yield of 1.70%. Brady’s payout ratio is currently 41.71%.

In other Brady news, Director Elizabeth P. Bruno sold 1,583 shares of the firm’s stock in a transaction that occurred on Thursday, December 10th. The stock was sold at an average price of $47.00, for a total value of $74,401.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elizabeth P. Bruno sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 29th. The stock was sold at an average price of $50.73, for a total value of $1,014,600.00. Following the transaction, the director now directly owns 22,860 shares in the company, valued at approximately $1,159,687.80. The disclosure for this sale can be found here. Insiders own 15.60% of the company’s stock.

Several research analysts have weighed in on the company. Sidoti began coverage on Brady in a report on Friday, December 18th. They set a “buy” rating on the stock. Zacks Investment Research lowered Brady from a “buy” rating to a “hold” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $52.20.

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 IDS segment offers safety signs, floor-marking tapes, 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 and 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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