State of New Jersey Common Pension Fund D Has $2.72 Million Stock Position in Brady Co. (NYSE:BRC)

State of New Jersey Common Pension Fund D trimmed its position in Brady Co. (NYSE:BRC) by 7.9% in the fourth quarter, Holdings Channel reports. The fund owned 46,291 shares of the industrial products company’s stock after selling 3,957 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Brady were worth $2,717,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its position in Brady by 293.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 575 shares of the industrial products company’s stock worth $34,000 after buying an additional 429 shares during the period. NBC Securities Inc. acquired a new position in shares of Brady during the third quarter worth $164,000. Koshinski Asset Management Inc. bought a new stake in shares of Brady in the fourth quarter worth $208,000. Fox Run Management L.L.C. acquired a new stake in Brady in the third quarter valued at $209,000. Finally, Ifrah Financial Services Inc. bought a new position in Brady during the 3rd quarter worth $213,000. Institutional investors and hedge funds own 76.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Bank of America upgraded Brady from an “underperform” rating to a “buy” rating and upped their price target for the company from $51.00 to $65.00 in a research report on Tuesday, January 2nd. StockNews.com cut Brady from a “strong-buy” rating to a “buy” rating in a report on Monday, February 26th.

Insiders Place Their Bets

In other news, Director Nancy Lee Gioia sold 4,250 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $59.20, for a total transaction of $251,600.00. Following the completion of the sale, the director now owns 11,551 shares of the company’s stock, valued at approximately $683,819.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Elizabeth P. Bruno sold 8,322 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $57.33, for a total transaction of $477,100.26. Following the transaction, the director now directly owns 333,593 shares of the company’s stock, valued at approximately $19,124,886.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Nancy Lee Gioia sold 4,250 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $59.20, for a total value of $251,600.00. Following the completion of the sale, the director now directly owns 11,551 shares of the company’s stock, valued at approximately $683,819.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,017 shares of company stock worth $2,283,667. Corporate insiders own 15.60% of the company’s stock.

Brady Price Performance

Shares of NYSE BRC opened at $59.00 on Wednesday. The company has a market capitalization of $2.85 billion, a PE ratio of 15.40, a P/E/G ratio of 2.13 and a beta of 0.77. The company has a quick ratio of 1.44, a current ratio of 2.13 and a debt-to-equity ratio of 0.05. Brady Co. has a twelve month low of $46.77 and a twelve month high of $63.02. The firm has a fifty day simple moving average of $58.79 and a 200 day simple moving average of $57.82.

Brady (NYSE:BRC) last issued its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $322.60 million during the quarter, compared to the consensus estimate of $339.61 million. Brady had a return on equity of 19.24% and a net margin of 14.08%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the business posted $0.81 EPS. On average, sell-side analysts forecast that Brady Co. will post 4 EPS for the current year.

Brady Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 9th were paid a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.59%. The ex-dividend date was Monday, April 8th. Brady’s dividend payout ratio (DPR) is presently 24.54%.

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 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.