Brady Corp. (NYSE:BRC) VP Bentley Curran sold 6,378 shares of the stock in a transaction dated 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 sale, the vice president now owns 36,459 shares of the company’s stock, valued at approximately $1,265,491.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Brady Corp. (NYSE:BRC) opened at 34.81 on Tuesday. The company’s 50-day moving average is $33.89 and its 200-day moving average is $30.72. Brady Corp. has a 12-month low of $20.35 and a 12-month high of $36.12. The stock has a market cap of $1.76 billion, a P/E ratio of 22.06 and a beta of 1.17.
Brady Corp. (NYSE:BRC) last released its quarterly earnings results on Friday, September 9th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. The business had revenue of $282.10 million for the quarter. Brady Corp. had a net margin of 7.15% and a return on equity of 13.73%. The business’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 EPS. On average, equities research analysts anticipate that Brady Corp. will post $1.70 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Tuesday, October 11th will be issued a $0.205 dividend. The ex-dividend date is Thursday, October 6th. This represents a $0.82 annualized dividend and a yield of 2.36%. This is a boost from Brady Corp.’s previous quarterly dividend of $0.20. Brady Corp.’s payout ratio is 51.27%.
A number of hedge funds have recently added to or reduced their stakes in the stock. PineBridge Investments L.P. boosted its stake in Brady Corp. by 3.8% in the second quarter. PineBridge Investments L.P. now owns 5,925 shares of the company’s stock valued at $181,000 after buying an additional 219 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in shares of Brady Corp. during the second quarter worth approximately $190,000. Teacher Retirement System of Texas boosted its stake in shares of Brady Corp. by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 6,576 shares of the company’s stock worth $201,000 after buying an additional 790 shares during the period. Bayesian Capital Management LP acquired a new stake in shares of Brady Corp. during the first quarter worth approximately $224,000. Finally, Springbok Capital Management LLC boosted its stake in shares of Brady Corp. by 37.1% in the first quarter. Springbok Capital Management LLC now owns 8,364 shares of the company’s stock worth $224,000 after buying an additional 2,264 shares during the period. Institutional investors and hedge funds own 75.37% of the company’s stock.
Several analysts have recently commented on BRC shares. Robert W. Baird increased their target price on shares of Brady Corp. from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, September 12th. Zacks Investment Research upgraded shares of Brady Corp. from a “hold” rating to a “strong-buy” rating and set a $40.00 target price for the company in a report on Tuesday, September 27th. Finally, SunTrust Banks Inc. upgraded shares of Brady Corp. from a “reduce” rating to a “neutral” rating and increased their target price for the company from $24.00 to $34.00 in a report on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Brady Corp. has a consensus rating of “Hold” and a consensus price target of $48.60.
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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