StockNews.com cut shares of Brady (NYSE:BRC – Free Report) from a strong-buy rating to a buy rating in a report released on Saturday morning.
Separately, Bank of America lifted their price objective on shares of Brady from $47.00 to $51.00 in a research note on Wednesday, October 4th.
Read Our Latest Stock Analysis on BRC
Brady Trading Up 2.4 %
NYSE BRC opened at $54.94 on Friday. Brady has a 12 month low of $44.71 and a 12 month high of $58.20. The company has a 50-day moving average of $54.42 and a 200-day moving average of $51.34. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.03 and a quick ratio of 1.35. The company has a market cap of $2.66 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.92 and a beta of 0.73.
Brady (NYSE:BRC – Get Free Report) last posted its quarterly earnings results on Tuesday, September 5th. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. Brady had a net margin of 13.13% and a return on equity of 18.78%. The firm had revenue of $345.90 million for the quarter, compared to analyst estimates of $329.29 million. During the same quarter last year, the firm posted $0.87 earnings per share. Brady’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities analysts predict that Brady will post 4 earnings per share for the current year.
Brady Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 10th were given a dividend of $0.235 per share. The ex-dividend date was Friday, October 6th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.71%. This is an increase from Brady’s previous quarterly dividend of $0.23. Brady’s dividend payout ratio (DPR) is presently 26.78%.
Insider Transactions at Brady
In other news, Director Nancy Lee Gioia sold 4,250 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $55.82, for a total transaction of $237,235.00. Following the completion of the sale, the director now owns 11,456 shares of the company’s stock, valued at $639,473.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Brady news, Director Nancy Lee Gioia sold 4,250 shares of Brady stock in a transaction on Friday, September 8th. The shares were sold at an average price of $55.82, for a total value of $237,235.00. Following the completion of the transaction, the director now owns 11,456 shares of the company’s stock, valued at $639,473.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Bentley Curran sold 6,209 shares of Brady stock in a transaction on Monday, September 25th. The stock was sold at an average price of $55.96, for a total transaction of $347,455.64. Following the completion of the transaction, the vice president now directly owns 15,462 shares of the company’s stock, valued at approximately $865,253.52. The disclosure for this sale can be found here. Corporate insiders own 15.60% of the company’s stock.
Hedge Funds Weigh In On Brady
Several hedge funds and other institutional investors have recently modified their holdings of the company. Citigroup Inc. raised its stake in shares of Brady by 24.2% during the first quarter. Citigroup Inc. now owns 52,649 shares of the industrial products company’s stock valued at $2,436,000 after purchasing an additional 10,272 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Brady by 55.7% during the first quarter. MetLife Investment Management LLC now owns 26,111 shares of the industrial products company’s stock valued at $1,208,000 after purchasing an additional 9,339 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Brady by 0.8% during the first quarter. Rhumbline Advisers now owns 136,008 shares of the industrial products company’s stock valued at $6,293,000 after purchasing an additional 1,108 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Brady by 13.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,633 shares of the industrial products company’s stock valued at $1,926,000 after purchasing an additional 4,955 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Brady by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,332,099 shares of the industrial products company’s stock valued at $246,716,000 after purchasing an additional 17,763 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.
Brady Company Profile
(Get Free Report)
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.
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