Renaissance Technologies LLC Has $74.14 Million Stock Holdings in Brady Corporation $BRC

Renaissance Technologies LLC trimmed its stake in shares of Brady Corporation (NYSE:BRC) by 4.3% in the 1st quarter, HoldingsChannel reports. The firm owned 912,640 shares of the industrial products company’s stock after selling 41,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Brady were worth $74,143,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Robeco Institutional Asset Management B.V. raised its holdings in Brady by 24.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 150,344 shares of the industrial products company’s stock worth $11,782,000 after buying an additional 29,220 shares during the period. Teacher Retirement System of Texas increased its position in shares of Brady by 20.1% in the fourth quarter. Teacher Retirement System of Texas now owns 91,292 shares of the industrial products company’s stock worth $7,155,000 after acquiring an additional 15,283 shares in the last quarter. Inspire Investing LLC increased its position in shares of Brady by 15.1% in the first quarter. Inspire Investing LLC now owns 54,222 shares of the industrial products company’s stock worth $4,405,000 after acquiring an additional 7,123 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Brady by 502,257.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 452,122 shares of the industrial products company’s stock valued at $35,433,000 after acquiring an additional 452,032 shares during the period. Finally, Royce & Associates LP lifted its position in shares of Brady by 9.8% in the 4th quarter. Royce & Associates LP now owns 740,635 shares of the industrial products company’s stock valued at $58,044,000 after acquiring an additional 66,387 shares in the last quarter. Institutional investors and hedge funds own 76.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BRC shares. Sidoti raised shares of Brady from a “neutral” rating to a “buy” rating and set a $103.00 price objective for the company in a research note on Tuesday, June 9th. Wall Street Zen upgraded Brady from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Finally, Weiss Ratings cut Brady from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Brady has a consensus rating of “Buy” and an average target price of $103.00.

Brady Trading Up 1.0%

Brady stock opened at $94.59 on Friday. Brady Corporation has a 12 month low of $69.24 and a 12 month high of $99.29. The company has a quick ratio of 1.36, a current ratio of 2.01 and a debt-to-equity ratio of 0.02. The stock has a market cap of $4.46 billion, a P/E ratio of 21.55 and a beta of 0.61. The company’s fifty day simple moving average is $87.90 and its 200-day simple moving average is $86.07.

Brady (NYSE:BRC) last issued its earnings results on Monday, May 18th. The industrial products company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. Brady had a return on equity of 19.01% and a net margin of 12.93%.The firm had revenue of $435.24 million for the quarter, compared to the consensus estimate of $406.07 million. During the same quarter in the previous year, the company posted $1.22 earnings per share. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. Brady has set its FY 2026 guidance at 5.200-5.300 EPS. As a group, sell-side analysts forecast that Brady Corporation will post 5.25 EPS for the current fiscal year.

Brady Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be paid a $0.245 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $0.98 annualized dividend and a dividend yield of 1.0%. Brady’s payout ratio is presently 22.32%.

Insider Activity at Brady

In other news, CEO Vineet A. Nargolwala acquired 13,011 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were purchased at an average price of $76.86 per share, for a total transaction of $1,000,025.46. Following the completion of the acquisition, the chief executive officer owned 52,709 shares of the company’s stock, valued at approximately $4,051,213.74. This represents a 32.77% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 15.60% of the company’s stock.

About Brady

Brady Corporation is a global provider of identification and safety solutions, specializing in the design, manufacture and sale of products that help businesses improve safety, security and efficiency. The company offers an array of durable labels, signs, safety devices, printing systems and software platforms tailored to a wide range of industrial and commercial environments.

Founded in 1914 by William H. Brady, Brady Corporation has grown from a regional marker manufacturer into a diversified global enterprise.