Lord Abbett & CO. LLC Acquires 17,682 Shares of Brady Co. (NYSE:BRC)

Lord Abbett & CO. LLC lifted its holdings in shares of Brady Co. (NYSE:BRC) by 2.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 618,841 shares of the industrial products company’s stock after acquiring an additional 17,682 shares during the period. Lord Abbett & CO. LLC owned approximately 1.30% of Brady worth $47,422,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BRC. FMR LLC lifted its position in shares of Brady by 39.5% during the 3rd quarter. FMR LLC now owns 2,658,925 shares of the industrial products company’s stock worth $203,753,000 after buying an additional 753,092 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Brady by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,510,180 shares of the industrial products company’s stock worth $99,701,000 after purchasing an additional 24,786 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Brady by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 658,093 shares of the industrial products company’s stock worth $50,445,000 after purchasing an additional 45,206 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Brady by 23.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 560,274 shares of the industrial products company’s stock valued at $36,631,000 after buying an additional 106,652 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in shares of Brady by 27.1% during the third quarter. Royce & Associates LP now owns 555,792 shares of the industrial products company’s stock worth $42,590,000 after buying an additional 118,557 shares in the last quarter. Institutional investors own 76.28% of the company’s stock.

Analyst Upgrades and Downgrades

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

Brady Trading Down 0.7 %

BRC opened at $75.60 on Friday. Brady Co. has a 1-year low of $56.09 and a 1-year high of $77.68. The stock has a market capitalization of $3.61 billion, a PE ratio of 18.57 and a beta of 0.77. The company has a current ratio of 1.84, a quick ratio of 1.25 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $74.26 and a two-hundred day moving average price of $71.56.

Brady (NYSE:BRC) last announced its quarterly earnings data on Monday, November 18th. The industrial products company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. The firm had revenue of $377.10 million for the quarter, compared to analyst estimates of $365.88 million. Brady had a return on equity of 19.79% and a net margin of 14.19%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period last year, the company earned $1.00 EPS. As a group, equities analysts anticipate that Brady Co. will post 4.55 earnings per share for the current fiscal year.

Brady Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be issued a $0.24 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.96 annualized dividend and a yield of 1.27%. Brady’s dividend payout ratio is currently 23.59%.

Insiders Place Their Bets

In other Brady news, CEO Russell Shaller sold 21,128 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $75.30, for a total value of $1,590,938.40. Following the transaction, the chief executive officer now owns 102,150 shares of the company’s stock, valued at approximately $7,691,895. This represents a 17.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Thomas F. Debruine sold 2,851 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $75.77, for a total value of $216,020.27. Following the transaction, the chief operating officer now owns 9,727 shares of the company’s stock, valued at $737,014.79. The trade was a 22.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,715 shares of company stock valued at $2,454,296. Company insiders own 15.60% of the company’s stock.

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.