Brady Corp. (BRC) Stock Rating Lowered by Zacks Investment Research
Brady Corp. (NYSE:BRC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
Several other analysts have also recently weighed in on the stock. SunTrust Banks Inc. upgraded shares of Brady Corp. from a “reduce” rating to a “neutral” rating and lifted their price objective for the stock from $24.00 to $34.00 in a research note on Tuesday, September 13th. Robert W. Baird lifted their price objective on shares of Brady Corp. from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, September 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $48.60.
Shares of Brady Corp. (NYSE:BRC) opened at 36.65 on Tuesday. Brady Corp. has a 1-year low of $20.35 and a 1-year high of $38.20. The stock’s 50 day moving average is $34.36 and its 200 day moving average is $32.32. The company has a market capitalization of $1.85 billion, a PE ratio of 23.23 and a beta of 1.08.
Brady Corp. (NYSE:BRC) last issued its quarterly earnings data on Wednesday, November 16th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Brady Corp. had a net margin of 7.15% and a return on equity of 13.73%. The business earned $280.20 million during the quarter, compared to analysts’ expectations of $277.87 million. During the same quarter in the previous year, the company earned $0.37 EPS. The business’s revenue was down 1.0% on a year-over-year basis. 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 Tuesday, January 31st. Stockholders of record on Tuesday, January 10th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 2.24%. Brady Corp.’s payout ratio is presently 51.90%.
In other news, VP Thomas J. Felmer sold 3,395 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 76,753 shares in the company, valued at approximately $2,687,122.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Bentley Curran sold 6,378 shares of the business’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $34.71, for a total transaction of $221,380.38. Following the completion of the transaction, the vice president now owns 36,459 shares of the company’s stock, valued at $1,265,491.89. The disclosure for this sale can be found here. 15.60% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. Institutional investors own 76.38% of the company’s stock.
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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