Olstein Capital Management L.P. Sells 10,000 Shares of Brady Co. (NYSE:BRC)

Olstein Capital Management L.P. lowered its position in Brady Co. (NYSE:BRC) by 33.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,000 shares of the industrial products company’s stock after selling 10,000 shares during the period. Olstein Capital Management L.P.’s holdings in Brady were worth $1,533,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of BRC. Raymond James & Associates lifted its holdings in Brady by 0.3% in the second quarter. Raymond James & Associates now owns 46,010 shares of the industrial products company’s stock valued at $3,038,000 after buying an additional 144 shares during the period. Andina Capital Management LLC increased its holdings in shares of Brady by 3.2% in the second quarter. Andina Capital Management LLC now owns 5,531 shares of the industrial products company’s stock worth $365,000 after acquiring an additional 169 shares in the last quarter. Creative Planning raised its holdings in Brady by 1.9% during the 3rd quarter. Creative Planning now owns 10,472 shares of the industrial products company’s stock worth $802,000 after buying an additional 195 shares during the period. Arizona State Retirement System boosted its holdings in shares of Brady by 1.9% in the second quarter. Arizona State Retirement System now owns 12,540 shares of the industrial products company’s stock valued at $828,000 after buying an additional 230 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in Brady by 2.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 12,729 shares of the industrial products company’s stock worth $840,000 after purchasing an additional 251 shares in the last quarter. Institutional investors and hedge funds own 76.28% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at Brady

In other news, CEO Russell Shaller sold 12,547 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $73.08, for a total value of $916,934.76. Following the sale, the chief executive officer now directly owns 102,905 shares of the company’s stock, valued at approximately $7,520,297.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Brady news, CEO Russell Shaller sold 12,547 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.08, for a total value of $916,934.76. Following the transaction, the chief executive officer now owns 102,905 shares of the company’s stock, valued at approximately $7,520,297.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas F. Debruine sold 2,851 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $75.77, for a total value of $216,020.27. Following the completion of the transaction, the chief operating officer now directly owns 9,727 shares in the company, valued at approximately $737,014.79. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,262 shares of company stock worth $3,371,231 over the last quarter. 15.60% of the stock is owned by corporate insiders.

Brady Price Performance

BRC stock traded up $0.36 during midday trading on Thursday, reaching $76.38. The company had a trading volume of 6,177 shares, compared to its average volume of 273,074. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.27 and a quick ratio of 1.69. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 3.31 and a beta of 0.76. The stock has a 50 day moving average price of $73.99 and a 200-day moving average price of $69.09. Brady Co. has a 1-year low of $52.68 and a 1-year high of $76.97.

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

Brady Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.24 per share. This is an increase from Brady’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, October 10th. This represents a $0.96 annualized dividend and a yield of 1.26%. Brady’s dividend payout ratio is presently 23.59%.

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.