Olstein Capital Management L.P. Sells 2,000 Shares of Brady Co. (NYSE:BRC)

Olstein Capital Management L.P. decreased its holdings in Brady Co. (NYSE:BRC) by 10.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,000 shares of the industrial products company’s stock after selling 2,000 shares during the quarter. Olstein Capital Management L.P.’s holdings in Brady were worth $1,329,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BRC. Intech Investment Management LLC bought a new position in shares of Brady in the second quarter valued at approximately $232,000. Sei Investments Co. lifted its stake in Brady by 151.7% during the 2nd quarter. Sei Investments Co. now owns 13,351 shares of the industrial products company’s stock valued at $881,000 after acquiring an additional 8,047 shares in the last quarter. Creative Planning boosted its holdings in Brady by 2.6% during the 2nd quarter. Creative Planning now owns 10,277 shares of the industrial products company’s stock worth $679,000 after acquiring an additional 256 shares during the last quarter. Quarry LP grew its stake in shares of Brady by 36.1% in the 2nd quarter. Quarry LP now owns 962 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 255 shares in the last quarter. Finally, Aurora Investment Counsel purchased a new stake in shares of Brady in the second quarter valued at about $2,104,000. Institutional investors and hedge funds own 76.28% of the company’s stock.

Brady Stock Down 1.5 %

BRC opened at $74.57 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.84 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $74.11 and its two-hundred day moving average price is $73.21. Brady Co. has a twelve month low of $56.09 and a twelve month high of $77.68. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 18.32 and a beta of 0.77.

Brady (NYSE:BRC) last issued its quarterly earnings data on Monday, November 18th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. The business had revenue of $377.10 million for 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 firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 EPS. As a group, equities analysts expect that Brady Co. will post 4.55 earnings per share for the current year.

Brady Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Friday, January 10th. Brady’s payout ratio is presently 23.59%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Brady from a “strong-buy” rating to a “buy” rating in a research 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.