Brady Co. (NYSE:BRC) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in Brady Co. (NYSE:BRC) by 143.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,981 shares of the industrial products company’s stock after acquiring an additional 157,149 shares during the period. Assenagon Asset Management S.A. owned approximately 0.56% of Brady worth $20,459,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BRC. Blue Trust Inc. boosted its stake in shares of Brady by 65.3% in the 2nd quarter. Blue Trust Inc. now owns 663 shares of the industrial products company’s stock valued at $44,000 after buying an additional 262 shares during the period. GAMMA Investing LLC lifted its stake in Brady by 337.1% in the second quarter. GAMMA Investing LLC now owns 918 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 708 shares during the last quarter. Quarry LP grew its holdings in Brady by 36.1% during the 2nd quarter. Quarry LP now owns 962 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 255 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Brady in the 1st quarter valued at approximately $66,000. Finally, Quest Partners LLC acquired a new stake in shares of Brady in the 2nd quarter valued at $119,000. 76.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Brady from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 11th.

Insider Activity

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

Brady Price Performance

BRC stock opened at $72.07 on Friday. The business has a 50 day moving average price of $74.01 and a 200 day moving average price of $68.26. The company has a quick ratio of 1.69, a current ratio of 2.27 and a debt-to-equity ratio of 0.09. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 3.47 and a beta of 0.76. Brady Co. has a fifty-two week low of $51.35 and a fifty-two week high of $76.97.

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

Brady Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, October 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.33%. This is a boost from Brady’s previous quarterly dividend of $0.24. 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.