Zacks Investment Research upgraded shares of Brady Co. (NYSE:BRC) from a hold rating to a buy rating in a report published on Wednesday, November 8th. They currently have $41.00 price target on the industrial products company’s 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 topic of several other reports. SunTrust Banks, Inc. reissued a hold rating and issued a $38.00 target price on shares of Brady in a report on Friday, October 27th. Robert W. Baird restated a hold rating and issued a $36.00 price target on shares of Brady in a research note on Friday, October 13th. Finally, Bank of America Corporation boosted their price target on Brady from $33.00 to $34.00 and gave the stock an underperform rating in a research note on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $39.60.
Shares of Brady (NYSE:BRC) opened at $38.45 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.62 and a current ratio of 2.19. Brady has a 1 year low of $31.70 and a 1 year high of $40.50. The firm has a market capitalization of $1,991.05, a P/E ratio of 21.53, a P/E/G ratio of 2.68 and a beta of 1.18.
Brady (NYSE:BRC) last released its quarterly earnings results on Thursday, November 16th. The industrial products company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Brady had a return on equity of 14.21% and a net margin of 8.90%. The company had revenue of $290.15 million for the quarter, compared to analyst estimates of $286.75 million. During the same period in the previous year, the company posted $0.44 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. research analysts predict that Brady will post 1.93 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 10th will be given a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Tuesday, January 9th. Brady’s dividend payout ratio (DPR) is presently 43.92%.
In related news, Director Elizabeth P. Bruno sold 24,000 shares of the company’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $36.75, for a total transaction of $882,000.00. Following the completion of the sale, the director now owns 371,509 shares in the company, valued at $13,652,955.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.60% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Northern Trust Corp boosted its stake in shares of Brady by 3.0% in the second quarter. Northern Trust Corp now owns 622,251 shares of the industrial products company’s stock worth $21,094,000 after acquiring an additional 18,411 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Brady by 6.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 308,143 shares of the industrial products company’s stock worth $11,910,000 after acquiring an additional 19,746 shares during the period. Marshall Wace North America L.P. bought a new position in Brady during the second quarter valued at approximately $5,218,000. BlackRock Inc. boosted its stake in Brady by 1.3% during the second quarter. BlackRock Inc. now owns 5,730,661 shares of the industrial products company’s stock valued at $194,270,000 after buying an additional 71,895 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Brady by 10.5% during the second quarter. JPMorgan Chase & Co. now owns 3,629,633 shares of the industrial products company’s stock valued at $123,045,000 after buying an additional 345,775 shares during the last quarter. Institutional investors and hedge funds own 74.47% of the company’s stock.
Brady Company Profile
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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