According to Zacks, “Brady Corporation is a world leader in complete identification solutions that help companies improve productivity, performance, safety and security. Brady’s products help customers increase safety, security, productivity and performance and include high-performance labels, signs, safety devices, printing systems and software. The Company has a diverse customer base in electronics, telecommunications, manufacturing, electrical, construction, medical, aerospace and a variety of other industries. Brady helps identify people and enhance security by ensuring the right persons are in the right places at the right time. Brady helps customers create and maintain safer work environments and comply with regulatory standards. Brady high-performance materials clearly identify products, components and other assets, even in the most extreme conditions. “
Other equities research analysts also recently issued reports about the stock. Northcoast Research downgraded shares of Brady from a buy rating to a neutral rating in a research note on Thursday, October 31st. ValuEngine downgraded Brady from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Bank of America raised their target price on Brady from $46.00 to $49.00 and gave the stock an underperform rating in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $51.33.
Shares of Brady stock traded up $0.39 during midday trading on Tuesday, hitting $55.29. The company had a trading volume of 483,056 shares, compared to its average volume of 304,915. The company has a fifty day simple moving average of $55.03 and a 200 day simple moving average of $50.81. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 2.80 and a beta of 0.92. Brady has a 12-month low of $40.04 and a 12-month high of $58.83.
Brady (NYSE:BRC) last released its earnings results on Friday, September 6th. The industrial products company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. Brady had a net margin of 11.31% and a return on equity of 16.15%. The company had revenue of $295.30 million for the quarter, compared to the consensus estimate of $298.90 million. During the same quarter in the previous year, the firm earned $0.66 EPS. Brady’s revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Brady will post 2.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were paid a $0.218 dividend. This represents a $0.87 annualized dividend and a dividend yield of 1.58%. This is a boost from Brady’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, October 9th. Brady’s dividend payout ratio (DPR) is presently 35.37%.
In other Brady news, VP Bentley Curran sold 10,982 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $51.92, for a total value of $570,185.44. Following the sale, the vice president now directly owns 33,760 shares of the company’s stock, valued at $1,752,819.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO J Michael Nauman sold 3,250 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $54.00, for a total value of $175,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,556 shares of company stock valued at $5,504,501. Company insiders own 15.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRC. CWM LLC raised its position in Brady by 474.0% during the third quarter. CWM LLC now owns 574 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 474 shares in the last quarter. KBC Group NV acquired a new stake in shares of Brady during the 2nd quarter worth approximately $59,000. Krane Funds Advisors LLC acquired a new stake in shares of Brady during the 2nd quarter worth approximately $60,000. Advisors Preferred LLC acquired a new stake in shares of Brady during the 2nd quarter worth approximately $112,000. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Brady during the 2nd quarter valued at approximately $126,000. Institutional investors and hedge funds own 79.92% of the company’s stock.
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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