Brady (NYSE:BRC) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Brady (NYSE:BRC) released its quarterly earnings results on Thursday. The industrial products company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.01, FiscalAI reports. The firm had revenue of $436.90 million for the quarter, compared to analysts’ expectations of $427.91 million. Brady had a net margin of 12.93% and a return on equity of 19.01%. During the same quarter in the prior year, the firm posted $1.04 earnings per share.

Brady Stock Up 0.0%

Shares of NYSE BRC opened at $90.41 on Thursday. The stock has a market capitalization of $4.26 billion, a P/E ratio of 20.60 and a beta of 0.61. Brady has a one year low of $70.57 and a one year high of $99.29. The firm’s 50 day simple moving average is $93.20 and its two-hundred day simple moving average is $87.68. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.01 and a quick ratio of 1.36.

Brady Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 9th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, October 9th. This is an increase from Brady’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Brady’s dividend payout ratio (DPR) is 22.32%.

Analyst Ratings Changes

BRC has been the topic of a number of research analyst reports. Weiss Ratings upgraded Brady from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday. Wall Street Zen upgraded shares of Brady from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, Sidoti raised shares of Brady from a “neutral” rating to a “buy” rating and set a $103.00 target price on the stock in a research note on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Brady has an average rating of “Buy” and a consensus target price of $103.00.

Insider Activity

In other Brady news, CEO Vineet A. Nargolwala acquired 13,011 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was bought at an average price of $76.86 per share, with a total value of $1,000,025.46. Following the purchase, the chief executive officer owned 52,709 shares of the company’s stock, valued at approximately $4,051,213.74. This trade represents a 32.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 15.60% of the company’s stock.

Institutional Trading of Brady

Institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC bought a new position in shares of Brady during the third quarter valued at about $31,000. Global Retirement Partners LLC boosted its holdings in Brady by 42.4% during the 4th quarter. Global Retirement Partners LLC now owns 450 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 134 shares during the period. EverSource Wealth Advisors LLC grew its position in Brady by 89.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 684 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 322 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Brady by 156.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 618 shares during the period. Finally, Danske Bank A S purchased a new position in Brady in the 3rd quarter worth approximately $70,000. 76.28% of the stock is currently owned by hedge funds and other institutional investors.

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.