Allspring Global Investments Holdings LLC Purchases 82,438 Shares of Brady Co. (NYSE:BRC)

Allspring Global Investments Holdings LLC increased its position in shares of Brady Co. (NYSE:BRC) by 20.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 479,057 shares of the industrial products company’s stock after buying an additional 82,438 shares during the period. Allspring Global Investments Holdings LLC owned 1.01% of Brady worth $36,710,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. grew its position in shares of Brady by 542.1% in the third quarter. Blue Trust Inc. now owns 4,257 shares of the industrial products company’s stock valued at $326,000 after purchasing an additional 3,594 shares during the last quarter. Creative Planning grew its holdings in Brady by 1.9% in the 3rd quarter. Creative Planning now owns 10,472 shares of the industrial products company’s stock valued at $802,000 after buying an additional 195 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Brady in the 3rd quarter worth approximately $251,000. GAMMA Investing LLC lifted its holdings in shares of Brady by 91.1% during the third quarter. GAMMA Investing LLC now owns 1,754 shares of the industrial products company’s stock worth $134,000 after buying an additional 836 shares during the last quarter. Finally, Aristides Capital LLC boosted its position in shares of Brady by 7.2% in the second quarter. Aristides Capital LLC now owns 4,343 shares of the industrial products company’s stock valued at $287,000 after acquiring an additional 292 shares during the period. 76.28% of the stock is currently owned by institutional investors and hedge funds.

Brady Price Performance

Shares of BRC stock opened at $73.17 on Wednesday. The company has a market capitalization of $3.47 billion, a P/E ratio of 18.67, a P/E/G ratio of 3.47 and a beta of 0.76. The company has a current ratio of 2.27, a quick ratio of 1.69 and a debt-to-equity ratio of 0.09. Brady Co. has a 12 month low of $51.35 and a 12 month high of $76.97. The stock has a 50 day moving average of $73.89 and a two-hundred day moving average of $68.01.

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

Brady Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.24 per share. This is a boost from Brady’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, October 10th. This represents a $0.96 dividend on an annualized basis and a yield of 1.31%. Brady’s dividend payout ratio (DPR) is currently 24.49%.

Insider Activity

In related news, CEO Russell Shaller sold 21,128 shares of Brady stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 102,150 shares of the company’s stock, valued at $7,691,895. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Thomas F. Debruine sold 2,851 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $75.77, for a total transaction of $216,020.27. Following the completion of the sale, the chief operating officer now directly owns 9,727 shares of the company’s stock, valued at $737,014.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Russell Shaller sold 21,128 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $75.30, for a total value of $1,590,938.40. Following the completion of the sale, the chief executive officer now owns 102,150 shares of the company’s stock, valued at $7,691,895. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,262 shares of company stock worth $3,371,231. Company insiders own 15.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.