Zacks Investment Research lowered shares of Brady (NYSE:BRC) from a buy rating to a hold rating in a research note issued to investors on Tuesday, November 21st.
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. “
BRC has been the topic of several other reports. Bank of America upped their target price on Brady from $33.00 to $34.00 and gave the company an underperform rating in a research report on Friday, September 8th. Robert W. Baird reaffirmed a hold rating and set a $36.00 price target on shares of Brady in a research report on Friday, October 13th. Finally, SunTrust Banks reissued a hold rating and set a $39.00 target price on shares of Brady in a research note on Friday, November 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $39.60.
Shares of Brady (BRC) traded up $0.40 during midday trading on Tuesday, hitting $39.10. The company had a trading volume of 201,862 shares, compared to its average volume of 202,672. The company has a quick ratio of 1.62, a current ratio of 2.19 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2,000.00, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 2.69 and a beta of 1.18. Brady has a 12-month low of $31.70 and a 12-month high of $40.50.
Brady (NYSE:BRC) last released its earnings results on Thursday, November 16th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. Brady had a return on equity of 13.90% and a net margin of 8.81%. The firm had revenue of $290.15 million for the quarter, compared to the consensus estimate of $286.75 million. During the same period in the prior year, the firm earned $0.44 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. equities research analysts anticipate that Brady will post 1.93 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th will be paid a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, January 9th. Brady’s payout ratio is currently 44.15%.
In other Brady news, Director Elizabeth P. Bruno sold 24,000 shares of the stock in a transaction dated 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 sale, the director now owns 371,509 shares in the company, valued at approximately $13,652,955.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas J. Felmer sold 10,000 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $39.00, for a total transaction of $390,000.00. Following the completion of the sale, the vice president now owns 78,474 shares of the company’s stock, valued at approximately $3,060,486. The disclosure for this sale can be found here. Insiders sold a total of 39,380 shares of company stock worth $1,484,060 over the last ninety days. 15.60% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Riverhead Capital Management LLC increased its holdings in shares of Brady by 62.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,095 shares of the industrial products company’s stock worth $105,000 after buying an additional 1,195 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Brady during the 2nd quarter worth approximately $118,000. Hartford Investment Management Co. acquired a new stake in shares of Brady during the 3rd quarter worth approximately $204,000. Amalgamated Bank increased its holdings in shares of Brady by 5.0% during the 2nd quarter. Amalgamated Bank now owns 6,403 shares of the industrial products company’s stock worth $217,000 after buying an additional 305 shares during the last quarter. Finally, Brighton Jones LLC increased its holdings in shares of Brady by 17.9% during the 2nd quarter. Brighton Jones LLC now owns 7,085 shares of the industrial products company’s stock worth $240,000 after buying an additional 1,075 shares during the last quarter. Institutional investors and hedge funds own 76.88% of the company’s stock.
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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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