Magnus Financial Group LLC lifted its holdings in shares of Brady Corp (NYSE:BRC) by 16.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,185 shares of the industrial products company’s stock after purchasing an additional 715 shares during the quarter. Magnus Financial Group LLC’s holdings in Brady were worth $243,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. First Trust Advisors LP raised its stake in shares of Brady by 36.9% in the first quarter. First Trust Advisors LP now owns 90,070 shares of the industrial products company’s stock worth $4,180,000 after buying an additional 24,270 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Brady by 70.0% in the first quarter. Envestnet Asset Management Inc. now owns 11,179 shares of the industrial products company’s stock valued at $505,000 after purchasing an additional 4,602 shares during the period. Texas Permanent School Fund raised its position in shares of Brady by 24.3% in the first quarter. Texas Permanent School Fund now owns 42,324 shares of the industrial products company’s stock valued at $1,910,000 after purchasing an additional 8,284 shares during the period. CWM LLC raised its position in shares of Brady by 28.6% in the first quarter. CWM LLC now owns 17,854 shares of the industrial products company’s stock valued at $806,000 after purchasing an additional 3,975 shares during the period. Finally, Comerica Bank grew its stake in shares of Brady by 3.0% in the first quarter. Comerica Bank now owns 48,737 shares of the industrial products company’s stock valued at $2,007,000 after acquiring an additional 1,427 shares in the last quarter. 78.65% of the stock is owned by institutional investors and hedge funds.
In other Brady news, Director Elizabeth P. Bruno sold 50,000 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $45.30, for a total transaction of $2,265,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 15.60% of the company’s stock.
NYSE BRC opened at $46.84 on Thursday. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 2.61 and a beta of 0.77. Brady Corp has a twelve month low of $33.00 and a twelve month high of $59.11. The company has a current ratio of 2.33, a quick ratio of 1.78 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average of $47.26 and a 200 day moving average of $46.72.
A number of brokerages have issued reports on BRC. Zacks Investment Research upgraded shares of Brady from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 15th. Wells Fargo & Co increased their price objective on Brady from $37.00 to $40.00 and gave the stock an “underweight” rating in a report on Friday, May 22nd. Bank of America decreased their price objective on Brady from $45.00 to $44.00 and set an “underperform” rating for the company in a report on Thursday, June 4th. Finally, Sidoti raised Brady from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $47.25.
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 IDS segment offers safety signs, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials and printing systems for product identification, brand protection labeling, work in process labeling, and finished product identification; and hand-held printers, wire markers, sleeves, and tags for wire identification, as well as software and services for safety compliance auditing, procedure writing, and training.
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