Brady Corp. (BRC) Sets New 1-Year High Following Dividend Announcement
Brady Corp. (NYSE:BRC) shares reached a new 52-week high on Thursday after the company announced a dividend. The company traded as high as $36.20 and last traded at $36.20, with a volume of 119,809 shares traded. The stock had previously closed at $35.30.
The newly announced dividend which will be paid on Tuesday, January 31st. Shareholders of record on Tuesday, January 10th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 2.28%. Brady Corp.’s payout ratio is currently 51.90%.
Several research analysts have commented on BRC shares. Zacks Investment Research downgraded Brady Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 20th. SunTrust Banks Inc. upgraded Brady Corp. from a “reduce” rating to a “neutral” rating and lifted their price target for the company from $24.00 to $34.00 in a report on Tuesday, September 13th. Finally, Robert W. Baird lifted their price target on Brady Corp. from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $48.60.
The firm has a market capitalization of $1.82 billion, a PE ratio of 22.78 and a beta of 1.08. The firm has a 50 day moving average price of $34.13 and a 200-day moving average price of $31.99.
Brady Corp. (NYSE:BRC) last released its quarterly earnings data on Friday, September 9th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. Brady Corp. had a return on equity of 13.73% and a net margin of 7.15%. The firm had revenue of $282.10 million for the quarter. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s revenue was down 2.3% on a year-over-year basis. Equities analysts expect that Brady Corp. will post $1.70 earnings per share for the current fiscal year.
In other Brady Corp. news, VP Thomas J. Felmer sold 3,395 shares of the company’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $35.01, for a total transaction of $118,858.95. Following the transaction, the vice president now directly owns 76,753 shares in the company, valued at $2,687,122.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas J. Felmer sold 13,431 shares of the company’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $35.21, for a total value of $472,905.51. Following the transaction, the vice president now owns 74,927 shares in the company, valued at $2,638,179.67. The disclosure for this sale can be found here. 15.60% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRC. LS Investment Advisors LLC boosted its position in Brady Corp. by 1.0% in the second quarter. LS Investment Advisors LLC now owns 7,741 shares of the company’s stock worth $237,000 after buying an additional 73 shares during the period. Baird Financial Group Inc. boosted its position in Brady Corp. by 0.4% in the second quarter. Baird Financial Group Inc. now owns 27,585 shares of the company’s stock worth $843,000 after buying an additional 100 shares during the period. Oarsman Capital Inc. boosted its position in Brady Corp. by 1.2% in the second quarter. Oarsman Capital Inc. now owns 8,689 shares of the company’s stock worth $266,000 after buying an additional 100 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in Brady Corp. by 1.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 12,780 shares of the company’s stock worth $442,000 after buying an additional 170 shares during the period. Finally, Profund Advisors LLC boosted its position in Brady Corp. by 1.9% in the second quarter. Profund Advisors LLC now owns 10,638 shares of the company’s stock worth $325,000 after buying an additional 198 shares during the period. Institutional investors own 75.64% of the company’s stock.
Brady Corp. 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 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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