Zacks Investment Research upgraded shares of Brady (NYSE:BRC) from a hold rating to a buy rating in a research report sent to investors on Monday morning. The firm currently has $44.00 price objective on the industrial products company’s stock.

According to Zacks, “Brady Corporation is a world leader in complete identification solutions that help companies improve productivity, performance, safety and security. Brady’s products help customers increase safety, security, productivity and performance and include high-performance labels, signs, safety devices, printing systems and software. The Company has a diverse customer base in electronics, telecommunications, manufacturing, electrical, construction, medical, aerospace and a variety of other industries. Brady helps identify people and enhance security by ensuring the right persons are in the right places at the right time. Brady helps customers create and maintain safer work environments and comply with regulatory standards. Brady high-performance materials clearly identify products, components and other assets, even in the most extreme conditions. “

Brady opened at $39.00 on Monday, according to Marketbeat. The company has a current ratio of 2.34, a quick ratio of 1.71 and a debt-to-equity ratio of 0.08. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 22.29, a P/E/G ratio of 2.66 and a beta of 1.13. Brady has a 52-week low of $31.70 and a 52-week high of $40.25.

Brady (NYSE:BRC) last posted its earnings results on Thursday, May 24th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.49. Brady had a net margin of 6.98% and a return on equity of 14.23%. The business had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $292.07 million. During the same quarter in the prior year, the business earned $0.43 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. analysts expect that Brady will post 1.99 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Tuesday, July 10th will be paid a $0.2075 dividend. This represents a $0.83 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Monday, July 9th. Brady’s dividend payout ratio (DPR) is presently 47.43%.

Large investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Brady by 3.3% in the 4th quarter. BlackRock Inc. now owns 6,081,722 shares of the industrial products company’s stock worth $230,496,000 after purchasing an additional 196,730 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Brady by 3.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 347,108 shares of the industrial products company’s stock worth $13,156,000 after purchasing an additional 11,878 shares during the period. Allianz Asset Management GmbH bought a new position in shares of Brady in the 4th quarter worth approximately $2,110,000. Cigna Investments Inc. New lifted its stake in shares of Brady by 29.7% in the 4th quarter. Cigna Investments Inc. New now owns 15,451 shares of the industrial products company’s stock worth $585,000 after purchasing an additional 3,535 shares during the period. Finally, Investors Research Corp bought a new position in shares of Brady in the 4th quarter worth approximately $622,000. Hedge funds and other institutional investors own 76.38% of the company’s stock.

Brady Company Profile

Brady Corporation manufactures and supplies identification solutions (IDS) and workplace safety (WPS) products to identify and protect premises, products, and people in the United States and internationally. The IDS segment offers safety signs, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials and printing systems for product identification, brand protection labeling, work in process labeling, and finished product identification; and hand-held printers, wire markers, sleeves, and tags for wire identification, as well as software and services for safety compliance auditing, procedure writing, and training.

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