Brady Corp. (NYSE:BRC) VP Thomas J. Felmer sold 3,395 shares of the stock in a transaction 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 sale, the vice president now directly owns 76,753 shares in the company, valued at approximately $2,687,122.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Brady Corp. (NYSE:BRC) opened at 35.36 on Friday. Brady Corp. has a 52 week low of $19.42 and a 52 week high of $36.12. The firm has a 50-day moving average price of $33.38 and a 200-day moving average price of $30.28. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 22.41 and a beta of 1.12.
Brady Corp. (NYSE:BRC) last announced its quarterly earnings results on Friday, September 9th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.12. Brady Corp. had a return on equity of 13.73% and a net margin of 7.15%. The company earned $282.10 million during the quarter. During the same quarter last year, the firm posted $0.28 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. On average, equities analysts expect that Brady Corp. will post $1.70 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Tuesday, October 11th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 2.32%. This is a positive change from Brady Corp.’s previous quarterly dividend of $0.20. Brady Corp.’s payout ratio is 51.27%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. SECOR Capital Advisors LP raised its position in shares of Brady Corp. by 68.9% in the second quarter. SECOR Capital Advisors LP now owns 38,983 shares of the company’s stock worth $1,192,000 after buying an additional 15,904 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Brady Corp. by 1.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,184,826 shares of the company’s stock worth $31,801,000 after buying an additional 21,377 shares during the period. UBS Group AG raised its position in shares of Brady Corp. by 139.4% in the first quarter. UBS Group AG now owns 22,580 shares of the company’s stock worth $606,000 after buying an additional 13,150 shares during the period. Springbok Capital Management LLC raised its position 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. Finally, Teachers Advisors Inc. raised its position in shares of Brady Corp. by 2.4% in the first quarter. Teachers Advisors Inc. now owns 74,390 shares of the company’s stock worth $1,997,000 after buying an additional 1,751 shares during the period. Institutional investors own 75.73% of the company’s stock.
A number of analysts recently commented on the company. SunTrust Banks Inc. raised Brady Corp. from a “reduce” rating to a “neutral” rating and increased their price objective for the company from $24.00 to $34.00 in a research note on Tuesday, September 13th. Robert W. Baird increased their price objective on Brady Corp. from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, September 12th. Finally, Zacks Investment Research raised Brady Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $47.60.
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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