Brady (NYSE:BRC) Downgraded by Zacks Investment Research
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. “
A number of other equities research analysts have also weighed in on the company. Bank of America lifted their price objective on Brady from $46.00 to $49.00 and gave the company an underperform rating in a report on Monday. ValuEngine lowered Brady from a buy rating to a hold rating in a report on Thursday, August 1st. Finally, Wells Fargo & Co set a $45.00 price objective on Brady and gave the company a hold rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $49.25.
Brady (NYSE:BRC) last released its quarterly earnings results on Friday, September 6th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.07. Brady had a return on equity of 16.15% and a net margin of 11.31%. The firm had revenue of $295.30 million for the quarter, compared to analyst estimates of $298.90 million. During the same quarter last year, the company posted $0.66 earnings per share. The business’s revenue was down .7% on a year-over-year basis. On average, equities analysts forecast that Brady will post 2.55 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be issued a $0.218 dividend. This represents a $0.87 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Wednesday, October 9th. This is a positive change from Brady’s previous quarterly dividend of $0.21. Brady’s payout ratio is currently 34.55%.
In other news, VP Russell Shaller sold 2,225 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $48.25, for a total transaction of $107,356.25. Following the sale, the vice president now owns 41,677 shares of the company’s stock, valued at approximately $2,010,915.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Bentley Curran sold 10,982 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $51.92, for a total value of $570,185.44. Following the sale, the vice president now directly owns 33,760 shares in the company, valued at approximately $1,752,819.20. The disclosure for this sale can be found here. Insiders sold a total of 37,427 shares of company stock worth $1,879,686 in the last ninety days. 15.60% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in BRC. Nuveen Asset Management LLC purchased a new stake in shares of Brady during the 2nd quarter worth approximately $14,010,000. APG Asset Management N.V. boosted its stake in shares of Brady by 73.0% during the 2nd quarter. APG Asset Management N.V. now owns 604,300 shares of the industrial products company’s stock worth $26,171,000 after acquiring an additional 255,000 shares in the last quarter. Man Group plc boosted its stake in shares of Brady by 377.6% during the 2nd quarter. Man Group plc now owns 257,252 shares of the industrial products company’s stock worth $12,688,000 after acquiring an additional 203,392 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Brady by 10.6% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,373,925 shares of the industrial products company’s stock worth $63,765,000 after acquiring an additional 131,300 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Brady by 36.5% during the 2nd quarter. Acadian Asset Management LLC now owns 403,537 shares of the industrial products company’s stock worth $19,903,000 after acquiring an additional 107,848 shares in the last quarter. 80.54% of the stock is currently owned by institutional investors and hedge funds.
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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