Zacks Investment Research cut shares of Brady Corporation (NYSE:BRC) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.
According to Zacks, “Brady Corporation is a manufacturer and marketer of identification solutions and specialty coated materials. Their products consist stock and custom items as well as identification systems that are used to create a safer work environment for employees, improve production and operating efficiencies and increase the utilization of assets through tracking and inventory process controls. Major product categories include: industrial identification and data collection products; safety and facility identification products; and original equipment manufacturers components. “
A number of other equities research analysts have also recently issued reports on BRC. Bank of America Corporation upped their target price on Brady Corporation from $33.00 to $34.00 and gave the stock an underperform rating in a research report on Friday, September 8th. Robert W. Baird set a $36.00 price target on Brady Corporation and gave the stock a hold rating in a report on Thursday, August 24th. Finally, BidaskClub lowered Brady Corporation from a sell rating to a strong sell rating in a report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $38.20.
Shares of Brady Corporation (BRC) opened at 36.40 on Tuesday. Brady Corporation has a 52-week low of $31.70 and a 52-week high of $40.50. The firm has a market capitalization of $1.87 billion, a PE ratio of 19.68 and a beta of 1.11. The company has a 50 day moving average of $33.16 and a 200 day moving average of $36.11.
Brady Corporation (NYSE:BRC) last announced its earnings results on Thursday, September 7th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $289.20 million during the quarter, compared to analysts’ expectations of $280.47 million. Brady Corporation had a return on equity of 13.93% and a net margin of 8.59%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. On average, analysts anticipate that Brady Corporation will post $1.91 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Tuesday, October 10th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 9.12%. This is a positive change from Brady Corporation’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, October 6th. Brady Corporation’s dividend payout ratio is presently 44.57%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Riverhead Capital Management LLC raised its stake in shares of Brady Corporation by 62.9% in the second quarter. Riverhead Capital Management LLC now owns 3,095 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 1,195 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Brady Corporation in the second quarter valued at $118,000. Ameritas Investment Partners Inc. acquired a new position in shares of Brady Corporation in the first quarter valued at $153,000. Amalgamated Bank raised its stake in shares of Brady Corporation by 5.0% in the second quarter. Amalgamated Bank now owns 6,403 shares of the industrial products company’s stock valued at $217,000 after purchasing an additional 305 shares in the last quarter. Finally, Brighton Jones LLC acquired a new position in shares of Brady Corporation in the first quarter valued at $232,000. Institutional investors and hedge funds own 76.57% of the company’s stock.
About Brady Corporation
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, and the WPS segment includes workplace safety and compliance products.
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