Brady Corporation (NYSE:BRC) to Issue Quarterly Dividend of $0.25

Brady Corporation (NYSE:BRC) declared a quarterly dividend on Wednesday, September 2nd. Stockholders of record on Friday, October 9th will be paid a dividend of 0.25 per share by the industrial products company on Friday, October 30th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, October 9th. This is a 2.0% increase from Brady’s previous quarterly dividend of $0.24.

Brady has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 39 consecutive years. Brady has a payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings.

Brady Stock Up 0.0%

Brady stock opened at $90.41 on Thursday. The firm has a 50 day moving average price of $93.20 and a 200 day moving average price of $87.68. Brady has a fifty-two week low of $70.57 and a fifty-two week high of $99.29. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.36 and a current ratio of 2.01. The company has a market capitalization of $4.26 billion, a PE ratio of 20.60 and a beta of 0.61.

Brady (NYSE:BRC) last announced its earnings results on Thursday, September 3rd. The industrial products company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.01. Brady had a net margin of 12.93% and a return on equity of 19.01%. The firm had revenue of $436.90 million for the quarter, compared to the consensus estimate of $427.91 million. During the same period in the prior year, the firm earned $1.04 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. Research analysts expect that Brady will post 5.25 earnings per share for the current year.

Insider Buying and Selling at Brady

In other Brady news, CEO Vineet A. Nargolwala bought 13,011 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was purchased at an average cost of $76.86 per share, for a total transaction of $1,000,025.46. Following the completion of the purchase, the chief executive officer owned 52,709 shares of the company’s stock, valued at $4,051,213.74. This trade represents a 32.77% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 15.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Brady

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada boosted its position in shares of Brady by 380.3% in the first quarter. Royal Bank of Canada now owns 6,451 shares of the industrial products company’s stock worth $456,000 after buying an additional 5,108 shares during the period. Millennium Management LLC grew its position in shares of Brady by 1,256.9% in the 1st quarter. Millennium Management LLC now owns 185,182 shares of the industrial products company’s stock worth $13,081,000 after acquiring an additional 171,535 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Brady by 282.3% in the 1st quarter. NewEdge Advisors LLC now owns 1,644 shares of the industrial products company’s stock worth $116,000 after buying an additional 1,214 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Brady by 7.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 126,953 shares of the industrial products company’s stock worth $8,968,000 after purchasing an additional 8,716 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Brady by 89.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 684 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 322 shares during the last quarter. Institutional investors and hedge funds own 76.28% of the company’s stock.

About Brady

Brady Corporation is a global provider of identification and safety solutions, specializing in the design, manufacture and sale of products that help businesses improve safety, security and efficiency. The company offers an array of durable labels, signs, safety devices, printing systems and software platforms tailored to a wide range of industrial and commercial environments.

Founded in 1914 by William H. Brady, Brady Corporation has grown from a regional marker manufacturer into a diversified global enterprise.