State Street Corp Trims Holdings in Brady Co. (NYSE:BRC)

State Street Corp decreased its position in shares of Brady Co. (NYSE:BRC - Free Report) by 3.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,596,220 shares of the industrial products company's stock after selling 63,651 shares during the period. State Street Corp owned 3.35% of Brady worth $122,318,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of BRC. Blue Trust Inc. raised its position in shares of Brady by 65.3% in the 2nd quarter. Blue Trust Inc. now owns 663 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 262 shares during the last quarter. Point72 DIFC Ltd lifted its stake in shares of Brady by 161.4% during the third quarter. Point72 DIFC Ltd now owns 651 shares of the industrial products company's stock worth $50,000 after buying an additional 402 shares during the period. Quarry LP grew its holdings in shares of Brady by 36.1% during the second quarter. Quarry LP now owns 962 shares of the industrial products company's stock valued at $64,000 after buying an additional 255 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Brady in the 2nd quarter valued at $119,000. Finally, GAMMA Investing LLC lifted its position in Brady by 91.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,754 shares of the industrial products company's stock worth $134,000 after acquiring an additional 836 shares during the period. 76.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel Andrew Gorman sold 8,736 shares of the business's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $74.10, for a total value of $647,337.60. Following the completion of the sale, the general counsel now owns 10,140 shares of the company's stock, valued at approximately $751,374. The trade was a 46.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Russell Shaller sold 21,128 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $75.30, for a total transaction of $1,590,938.40. Following the transaction, the chief executive officer now directly owns 102,150 shares in the company, valued at approximately $7,691,895. The trade was a 17.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,715 shares of company stock valued at $2,454,296. Corporate insiders own 15.60% of the company's stock.

Brady Stock Performance

NYSE BRC traded down $0.52 on Friday, reaching $75.60. 310,185 shares of the company's stock traded hands, compared to its average volume of 274,842. Brady Co. has a fifty-two week low of $56.09 and a fifty-two week high of $77.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.25 and a current ratio of 1.84. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 18.57 and a beta of 0.77. The stock has a 50 day moving average price of $74.26 and a 200-day moving average price of $71.56.

Brady (NYSE:BRC - Get Free Report) last issued its quarterly earnings data on Monday, November 18th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.02. The business had revenue of $377.10 million during the quarter, compared to analysts' expectations of $365.88 million. Brady had a return on equity of 19.79% and a net margin of 14.19%. The company's revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 EPS. Equities research analysts predict that Brady Co. will post 4.55 EPS for the current fiscal year.

Brady Announces Dividend

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

Analyst Ratings Changes

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

Brady 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.