Point72 Asset Management L.P. Makes New $521,000 Investment in Brady Co. (NYSE:BRC)

Point72 Asset Management L.P. acquired a new position in shares of Brady Co. (NYSE:BRC - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,800 shares of the industrial products company's stock, valued at approximately $521,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BRC. Diversified Trust Co raised its position in shares of Brady by 9.1% during the second quarter. Diversified Trust Co now owns 5,490 shares of the industrial products company's stock worth $362,000 after purchasing an additional 459 shares during the period. Swedbank AB raised its holdings in Brady by 54.4% during the 2nd quarter. Swedbank AB now owns 350,000 shares of the industrial products company's stock worth $23,107,000 after buying an additional 123,296 shares during the period. Blue Trust Inc. lifted its stake in Brady by 65.3% in the second quarter. Blue Trust Inc. now owns 663 shares of the industrial products company's stock valued at $44,000 after buying an additional 262 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of 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. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Brady by 2.0% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 12,729 shares of the industrial products company's stock worth $840,000 after acquiring an additional 251 shares in the last quarter. 76.28% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Russell Shaller sold 12,547 shares of the firm's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.08, for a total value of $916,934.76. Following the completion of the transaction, the chief executive officer now directly owns 102,905 shares of the company's stock, valued at approximately $7,520,297.40. This trade represents a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a 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 business's stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $75.77, for a total transaction of $216,020.27. Following the transaction, the chief operating officer now owns 9,727 shares in the company, valued at approximately $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. Insiders sold 45,262 shares of company stock worth $3,371,231 in the last quarter. Corporate insiders own 15.60% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Brady from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 11th.

Brady Stock Up 0.4 %

Shares of NYSE:BRC traded up $0.30 during mid-day trading on Thursday, reaching $76.11. 160,213 shares of the stock were exchanged, compared to its average volume of 274,713. The company has a market cap of $3.64 billion, a P/E ratio of 18.70 and a beta of 0.77. The stock's 50 day simple moving average is $74.24 and its 200-day simple moving average is $71.49. The company has a quick ratio of 1.25, a current ratio of 1.84 and a debt-to-equity ratio of 0.11. Brady Co. has a one year low of $56.09 and a one year high of $77.68.

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

Brady Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.26%. Brady's dividend payout ratio is 23.59%.

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.