ProShare Advisors LLC Acquires 105,861 Shares of Brady Corporation $BRC

ProShare Advisors LLC bought a new position in shares of Brady Corporation (NYSE:BRC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 105,861 shares of the industrial products company’s stock, valued at approximately $8,838,000. ProShare Advisors LLC owned approximately 0.23% of Brady as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Ifrah Financial Services Inc. raised its position in shares of Brady by 4.9% in the third quarter. Ifrah Financial Services Inc. now owns 3,452 shares of the industrial products company’s stock valued at $288,000 after buying an additional 161 shares during the last quarter. Parallel Advisors LLC raised its stake in Brady by 10.2% during the first quarter. Parallel Advisors LLC now owns 2,102 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 195 shares during the period. Illinois Municipal Retirement Fund raised its position in shares of Brady by 1.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 23,400 shares of the industrial products company’s stock valued at $1,901,000 after buying an additional 223 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Brady by 25.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,249 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 251 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in shares of Brady by 12.5% in the 1st quarter. Quantinno Capital Management LP now owns 2,950 shares of the industrial products company’s stock valued at $240,000 after purchasing an additional 327 shares during the last quarter. Institutional investors and hedge funds own 76.28% of the company’s stock.

Insiders Place Their Bets

In other Brady news, COO Thomas DeBruine sold 5,739 shares of Brady stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $84.00, for a total transaction of $482,076.00. Following the completion of the transaction, the chief operating officer owned 7,523 shares in the company, valued at approximately $631,932. The trade was a 43.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 15.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wall Street Zen raised Brady from a “hold” rating to a “buy” rating in a research report on Sunday, October 4th. Weiss Ratings lowered Brady from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. Two analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Brady currently has a consensus rating of “Buy” and an average price target of $103.00.

Brady Price Performance

Shares of NYSE:BRC opened at $82.20 on Wednesday. The company’s fifty day moving average price is $85.50 and its 200 day moving average price is $87.00. Brady Corporation has a 12 month low of $70.57 and a 12 month high of $99.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.94 and a quick ratio of 1.30. The firm has a market capitalization of $3.86 billion, a P/E ratio of 19.07 and a beta of 0.62.

Brady (NYSE:BRC) last announced its earnings results on Thursday, September 3rd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.01. Brady had a return on equity of 19.21% and a net margin of 12.36%. The firm had revenue of $436.90 million during the quarter, compared to analysts’ expectations of $427.91 million. During the same period in the prior year, the firm earned $1.04 EPS. The business’s revenue was up 10.0% on a year-over-year basis. Brady has set its FY 2027 guidance at 6.250-6.750 EPS. As a group, sell-side analysts predict that Brady Corporation will post 6.50 earnings per share for the current fiscal year.

Brady Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Friday, October 9th were paid a dividend of $0.25 per share. This is a boost from Brady’s previous quarterly dividend of $0.2450. The ex-dividend date of this dividend was Friday, October 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Brady’s dividend payout ratio is currently 23.20%.

Brady Profile

Brady Corporation (NYSE:BRC) is a global manufacturer of identification and workplace safety solutions. Founded in 1914 as W.H. Brady Co in Milwaukee, Wisconsin, the company develops products that help organizations identify equipment, manage facilities, improve workplace safety and comply with operational requirements.

Its products include industrial and facility identification labels, signs, tags, safety and lockout products, wire and cable markers, barcode and RFID solutions, printers, software and specialty materials.