Zacks Investment Research upgraded shares of Brady Corp. (NYSE:BRC) from a hold rating to a strong-buy rating in a research report report published on Tuesday. They currently have $40.00 price target on the stock.
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 subject of a number of other reports. SunTrust Banks Inc. upgraded Brady Corp. from a reduce rating to a neutral rating and increased their price target for the stock from $24.00 to $34.00 in a report on Tuesday, September 13th. Robert W. Baird increased their price target on Brady Corp. from $30.00 to $34.00 and gave the stock a neutral rating in a report on Monday, September 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $48.60.
Brady Corp. (NYSE:BRC) opened at 34.49 on Tuesday. The firm has a 50-day moving average price of $33.75 and a 200 day moving average price of $30.56. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 21.86 and a beta of 1.12. Brady Corp. has a 1-year low of $19.49 and a 1-year high of $36.12.
Brady Corp. (NYSE:BRC) last released its quarterly earnings results on Friday, September 9th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.12. The business earned $282.10 million during the quarter. Brady Corp. had a return on equity of 13.73% and a net margin of 7.15%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 earnings per share. On average, equities research analysts anticipate that Brady Corp. will post $1.70 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Tuesday, October 11th will be paid a dividend of $0.205 per share. This is a positive change from Brady Corp.’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, October 6th. This represents a $0.82 annualized dividend and a yield of 2.38%. Brady Corp.’s dividend payout ratio is presently 51.27%.
In other Brady Corp. news, VP Thomas J. Felmer sold 13,431 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $35.21, for a total value of $472,905.51. Following the sale, the vice president now owns 74,927 shares of the company’s stock, valued at approximately $2,638,179.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas J. Felmer sold 3,395 shares of the stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $35.01, for a total value of $118,858.95. Following the completion of the sale, the vice president now directly owns 76,753 shares in the company, valued at approximately $2,687,122.53. The disclosure for this sale can be found here. Corporate insiders own 15.60% of the company’s stock.
A number of large investors have recently bought and sold shares of BRC. SECOR Capital Advisors LP raised its stake in Brady Corp. by 68.9% in the second quarter. SECOR Capital Advisors LP now owns 38,983 shares of the company’s stock worth $1,192,000 after buying an additional 15,904 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Brady Corp. by 1.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,184,826 shares of the company’s stock worth $31,801,000 after buying an additional 21,377 shares in the last quarter. UBS Group AG raised its stake in Brady Corp. by 139.4% in the first quarter. UBS Group AG now owns 22,580 shares of the company’s stock worth $606,000 after buying an additional 13,150 shares in the last quarter. Springbok Capital Management LLC raised its stake in Brady Corp. by 37.1% in the first quarter. Springbok Capital Management LLC now owns 8,364 shares of the company’s stock worth $224,000 after buying an additional 2,264 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Brady Corp. by 0.8% in the second quarter. Nisa Investment Advisors LLC now owns 38,700 shares of the company’s stock worth $1,183,000 after buying an additional 300 shares in the last quarter. 75.73% of the stock is currently owned by institutional investors.
About Brady Corp.
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 that are manufactured under various brands, including the Brady brand, and are primarily sold through distribution to a range of maintenance, repair and operations (MRO) and original equipment manufacturing (OEM) customers, and through other channels, including direct sales, catalog marketing and digital.
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