Brady Corp Declares Quarterly Dividend of $0.21 (BRC)

Brady Corp (NYSE:BRC) announced a quarterly dividend on Thursday, February 21st, Wall Street Journal reports. Stockholders of record on Tuesday, April 9th will be given a dividend of 0.2125 per share by the industrial products company on Tuesday, April 30th. This represents a $0.85 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Monday, April 8th.

Brady has increased its dividend by an average of 1.3% annually over the last three years and has increased its dividend every year for the last 33 years. Brady has a dividend payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Brady to earn $2.49 per share next year, which means the company should continue to be able to cover its $0.85 annual dividend with an expected future payout ratio of 34.1%.

NYSE BRC traded up $0.54 during trading hours on Thursday, reaching $47.91. 640,830 shares of the company’s stock were exchanged, compared to its average volume of 563,224. The firm has a market cap of $2.45 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 2.71 and a beta of 0.93. Brady has a one year low of $35.95 and a one year high of $48.62. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.72 and a quick ratio of 2.09.

Brady (NYSE:BRC) last released its quarterly earnings results on Thursday, February 21st. The industrial products company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. The business had revenue of $282.40 million for the quarter, compared to analyst estimates of $285.50 million. Brady had a return on equity of 15.01% and a net margin of 8.15%. Brady’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.48 EPS. As a group, equities analysts expect that Brady will post 2.3 earnings per share for the current year.

In related news, VP Thomas J. Felmer sold 31,667 shares of the firm’s stock in a transaction on Friday, January 18th. The stock was sold at an average price of $46.00, for a total transaction of $1,456,682.00. Following the sale, the vice president now owns 72,040 shares of the company’s stock, valued at approximately $3,313,840. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas J. Felmer sold 20,000 shares of the firm’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $47.00, for a total value of $940,000.00. Following the sale, the vice president now directly owns 60,705 shares in the company, valued at approximately $2,853,135. The disclosure for this sale can be found here. In the last three months, insiders sold 61,667 shares of company stock worth $2,826,682. 15.60% of the stock is currently owned by company insiders.

BRC has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Brady from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Monday, December 10th. SunTrust Banks restated a “hold” rating and set a $43.00 price target on shares of Brady in a research report on Monday, November 19th. Finally, Northcoast Research reiterated a “buy” rating on shares of Brady in a research report on Wednesday, February 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $46.00.

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About Brady

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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Dividend History for Brady (NYSE:BRC)

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