Zacks Investment Research lowered shares of Brady Corporation (NYSE:BRC) from a buy rating to a hold rating in a research report released on Monday morning.
According to Zacks, “Brady Corporation is a manufacturer and marketer of identification solutions and specialty coated materials. Their products consist stock and custom items as well as identification systems that are used to create a safer work environment for employees, improve production and operating efficiencies and increase the utilization of assets through tracking and inventory process controls. Major product categories include: industrial identification and data collection products; safety and facility identification products; and original equipment manufacturers components. “
Several other research analysts also recently commented on the company. Bank of America Corporation boosted 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. Robert W. Baird set a $36.00 target price on Brady Corporation and gave the stock a hold rating in a report on Thursday, August 24th. Finally, SunTrust Banks, Inc. reissued a hold rating and issued a $38.00 target price on shares of Brady Corporation in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Brady Corporation has a consensus rating of Hold and a consensus target price of $39.20.
Brady Corporation (BRC) traded down $0.45 during trading on Monday, hitting $37.30. 81,308 shares of the stock traded hands, compared to its average volume of 126,513. The stock has a market cap of $1.95 billion, a P/E ratio of 21.71 and a beta of 1.18.
Brady Corporation (NYSE:BRC) last announced its earnings results on Thursday, September 7th. The industrial products company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. The business had revenue of $289.20 million for the quarter, compared to the consensus estimate of $280.47 million. Brady Corporation had a return on equity of 13.93% and a net margin of 8.59%. Brady Corporation’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 EPS. equities analysts forecast that Brady Corporation will post 1.92 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Tuesday, October 10th were given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 8.90%. The ex-dividend date was Friday, October 6th. This is a boost from Brady Corporation’s previous quarterly dividend of $0.21. Brady Corporation’s payout ratio is 45.11%.
In related news, Director Elizabeth P. Bruno sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $36.75, for a total value of $882,000.00. Following the completion of the transaction, the director now owns 371,509 shares in the company, valued at approximately $13,652,955.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.60% of the company’s stock.
A number of hedge funds have recently bought and sold shares of BRC. UBS Asset Management Americas Inc. raised its position in Brady Corporation by 34.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 31,818 shares of the industrial products company’s stock worth $1,230,000 after purchasing an additional 8,077 shares during the last quarter. OppenheimerFunds Inc. raised its position in Brady Corporation by 18.6% in the 1st quarter. OppenheimerFunds Inc. now owns 21,780 shares of the industrial products company’s stock worth $842,000 after purchasing an additional 3,414 shares during the last quarter. Teachers Advisors LLC raised its position in Brady Corporation by 2.8% in the 1st quarter. Teachers Advisors LLC now owns 77,639 shares of the industrial products company’s stock worth $3,001,000 after purchasing an additional 2,096 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Brady Corporation by 6.4% in the 1st quarter. TIAA CREF Investment Management LLC now owns 205,103 shares of the industrial products company’s stock worth $7,927,000 after purchasing an additional 12,329 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Brady Corporation by 2.8% in the 1st quarter. Legal & General Group Plc now owns 85,644 shares of the industrial products company’s stock worth $3,308,000 after purchasing an additional 2,355 shares during the last quarter. Hedge funds and other institutional investors own 75.59% of the company’s stock.
About Brady Corporation
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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