SunTrust Banks, Inc. restated their hold rating on shares of Brady Corporation (NYSE:BRC) in a research report released on Friday morning. The brokerage currently has a $38.00 target price on the industrial products company’s stock.
Other research analysts have also issued reports about the company. Robert W. Baird reiterated a hold rating and set a $36.00 target price on shares of Brady Corporation in a report on Friday, October 13th. Zacks Investment Research lowered Brady Corporation from a buy rating to a hold rating in a report on Tuesday, September 12th. Finally, Bank of America Corporation lifted their target price on Brady Corporation from $33.00 to $34.00 and gave the stock an underperform rating in a report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $38.25.
Shares of Brady Corporation (NYSE:BRC) opened at 37.45 on Friday. The company has a 50-day moving average price of $37.80 and a 200 day moving average price of $35.94. Brady Corporation has a 52 week low of $31.70 and a 52 week high of $40.50. The stock has a market capitalization of $1.92 billion, a P/E ratio of 20.52 and a beta of 1.12.
Brady Corporation (NYSE:BRC) last posted its earnings results on Thursday, September 7th. The industrial products company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The firm had revenue of $289.20 million for the quarter, compared to analyst estimates of $280.47 million. Brady Corporation had a return on equity of 13.93% and a net margin of 8.59%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. Analysts forecast that Brady Corporation will post $1.93 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 10th will be issued a dividend of $0.83 per share. The ex-dividend date is Friday, October 6th. This is a positive change from Brady Corporation’s previous quarterly dividend of $0.21. This represents a $3.32 annualized dividend and a yield of 8.87%. Brady Corporation’s payout ratio is currently 45.11%.
In other Brady Corporation news, Director Elizabeth P. Bruno sold 24,000 shares of Brady Corporation stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $36.75, for a total transaction of $882,000.00. Following the transaction, the director now directly owns 371,509 shares in the company, valued at $13,652,955.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 15.60% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in shares of Brady Corporation by 1.3% in the second quarter. BlackRock Inc. now owns 5,730,661 shares of the industrial products company’s stock valued at $194,270,000 after purchasing an additional 71,895 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Brady Corporation by 3.0% in the second quarter. Vanguard Group Inc. now owns 5,480,546 shares of the industrial products company’s stock valued at $185,791,000 after purchasing an additional 159,933 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Brady Corporation by 10.5% in the second quarter. JPMorgan Chase & Co. now owns 3,629,633 shares of the industrial products company’s stock valued at $123,045,000 after purchasing an additional 345,775 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Brady Corporation by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,714,694 shares of the industrial products company’s stock valued at $58,128,000 after purchasing an additional 16,270 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Brady Corporation by 13.2% in the second quarter. Renaissance Technologies LLC now owns 1,649,100 shares of the industrial products company’s stock valued at $55,904,000 after purchasing an additional 192,000 shares in the last quarter. Hedge funds and other institutional investors own 75.59% of the company’s stock.
Brady Corporation Company Profile
Brady Corporation is a manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people. The Company has two segments: Identification Solutions (IDS) and Workplace Safety (WPS). The IDS segment includes identification and healthcare products, and the WPS segment includes workplace safety and compliance products.
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