Zacks Investment Research cut shares of Brady Corporation (NYSE:BRC) from a buy rating to a hold rating in a research note published on Tuesday.
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. “
A number of other analysts have also recently weighed in on the company. SunTrust Banks, Inc. reiterated a hold rating and issued a $39.00 price target on shares of Brady Corporation in a research report on Friday, November 17th. Bank of America Corporation upped their price target on Brady Corporation from $34.00 to $35.00 and gave the company an underperform rating in a research report on Friday, November 17th. Finally, Robert W. Baird reiterated a hold rating and issued a $36.00 price target on shares of Brady Corporation in a research report on Friday, October 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $39.60.
Brady Corporation (NYSE:BRC) last released its quarterly earnings data on Thursday, November 16th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $290.15 million for the quarter, compared to analysts’ expectations of $286.75 million. Brady Corporation had a return on equity of 13.90% and a net margin of 8.81%. Brady Corporation’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share. analysts predict that Brady Corporation will post 1.93 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 10th will be given a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Tuesday, January 9th. Brady Corporation’s dividend payout ratio (DPR) is 43.92%.
In other Brady Corporation news, VP Thomas J. Felmer sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $39.00, for a total value of $390,000.00. Following the transaction, the vice president now owns 78,474 shares of the company’s stock, valued at $3,060,486. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Elizabeth P. Bruno sold 24,000 shares of the business’s stock in a transaction on Monday, September 25th. The stock was 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 directly owns 371,509 shares in the company, valued at approximately $13,652,955.75. The disclosure for this sale can be found here. Corporate insiders own 15.60% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Riverhead Capital Management LLC boosted its stake in Brady Corporation by 62.9% in the second quarter. Riverhead Capital Management LLC now owns 3,095 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 1,195 shares in the last quarter. SG Americas Securities LLC acquired a new position in Brady Corporation in the second quarter worth $118,000. Hartford Investment Management Co. acquired a new position in Brady Corporation in the third quarter worth $204,000. Amalgamated Bank boosted its stake in Brady Corporation by 5.0% in the second quarter. Amalgamated Bank now owns 6,403 shares of the industrial products company’s stock worth $217,000 after purchasing an additional 305 shares in the last quarter. Finally, Brighton Jones LLC boosted its stake in Brady Corporation by 17.9% in the second quarter. Brighton Jones LLC now owns 7,085 shares of the industrial products company’s stock worth $240,000 after purchasing an additional 1,075 shares in the last quarter. 74.47% of the stock is currently owned by institutional investors.
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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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