Brady Corp (NYSE:BRC) – Research analysts at Northcoast Research lowered their Q3 2021 earnings estimates for shares of Brady in a report released on Friday, September 18th. Northcoast Research analyst K. Housum now anticipates that the industrial products company will post earnings per share of $0.69 for the quarter, down from their previous forecast of $0.74. Northcoast Research has a “Buy” rating and a $58.00 price objective on the stock. Northcoast Research also issued estimates for Brady’s Q4 2021 earnings at $0.73 EPS.
Brady (NYSE:BRC) last issued its quarterly earnings data on Wednesday, September 16th. The industrial products company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.01. The business had revenue of $251.70 million during the quarter, compared to analysts’ expectations of $249.47 million. Brady had a return on equity of 14.28% and a net margin of 10.39%. The company’s revenue was down 14.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share.
Shares of NYSE BRC opened at $39.68 on Monday. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.72. The business has a 50-day moving average of $47.11 and a two-hundred day moving average of $45.99. Brady has a 1 year low of $33.00 and a 1 year high of $59.11.
A number of hedge funds have recently modified their holdings of the stock. Baird Financial Group Inc. increased its position in Brady by 1.5% in the 2nd quarter. Baird Financial Group Inc. now owns 18,250 shares of the industrial products company’s stock valued at $1,045,000 after acquiring an additional 272 shares during the period. PNC Financial Services Group Inc. increased its position in Brady by 12.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,866 shares of the industrial products company’s stock worth $133,000 after purchasing an additional 312 shares during the period. Aperio Group LLC increased its position in Brady by 2.7% during the 1st quarter. Aperio Group LLC now owns 13,446 shares of the industrial products company’s stock worth $607,000 after purchasing an additional 353 shares during the period. Mutual of America Capital Management LLC increased its position in Brady by 21.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 2,186 shares of the industrial products company’s stock worth $99,000 after purchasing an additional 392 shares during the period. Finally, Citigroup Inc. increased its position in Brady by 2.8% during the 1st quarter. Citigroup Inc. now owns 24,202 shares of the industrial products company’s stock worth $1,092,000 after purchasing an additional 653 shares during the period. Hedge funds and other institutional investors own 77.23% of the company’s stock.
In related news, Director Elizabeth P. Bruno sold 50,000 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $45.30, for a total value of $2,265,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 15.60% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 9th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.22%. The ex-dividend date is Thursday, October 8th. This is a boost from Brady’s previous quarterly dividend of $0.22. Brady’s payout ratio is 41.23%.
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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