Brady Corp. (BRC) Director Frank W. Harris Sells 5,000 Shares
Brady Corp. (NYSE:BRC) Director Frank W. Harris sold 5,000 shares of the business’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $36.91, for a total transaction of $184,550.00. Following the completion of the transaction, the director now directly owns 28,008 shares of the company’s stock, valued at $1,033,775.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Brady Corp. (NYSE:BRC) traded down 0.67% during midday trading on Monday, reaching $37.30. 73,422 shares of the company’s stock traded hands. Brady Corp. has a 52-week low of $20.35 and a 52-week high of $38.20. The stock has a 50-day moving average price of $34.51 and a 200-day moving average price of $32.43. The stock has a market cap of $1.90 billion, a P/E ratio of 22.61 and a beta of 1.08.
Brady Corp. (NYSE:BRC) last posted its quarterly earnings results on Wednesday, November 16th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Brady Corp. had a net margin of 7.51% and a return on equity of 14.14%. The company had revenue of $280.20 million for the quarter, compared to the consensus estimate of $277.87 million. During the same period last year, the company posted $0.37 EPS. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. Analysts forecast that Brady Corp. will post $1.69 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Tuesday, January 10th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.18%. Brady Corp.’s payout ratio is currently 49.70%.
Large investors have recently bought and sold shares of the stock. Cornerstone Capital Management Holdings LLC. bought a new stake in Brady Corp. during the third quarter worth $1,213,000. Verition Fund Management LLC bought a new stake in Brady Corp. during the third quarter worth $226,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Brady Corp. during the third quarter worth $471,000. Jane Street Group LLC bought a new stake in Brady Corp. during the third quarter worth $321,000. Finally, Panagora Asset Management Inc. bought a new stake in Brady Corp. during the third quarter worth $254,000. Institutional investors own 76.27% of the company’s stock.
A number of equities research analysts recently weighed in on BRC shares. Zacks Investment Research downgraded shares of Brady Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, November 15th. SunTrust Banks Inc. raised shares of Brady Corp. from a “reduce” rating to a “neutral” rating and boosted their price target for the stock from $24.00 to $34.00 in a research note on Tuesday, September 13th. Finally, Robert W. Baird boosted their price target 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 given a hold rating and one has assigned a buy rating to the stock. Brady Corp. currently has an average rating of “Hold” and an average target price of $48.60.
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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