Zacks Investment Research cut shares of Brady (NYSE:BRC) from a buy rating to a hold rating in a research report sent to investors on Thursday.

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. “

Several other research analysts have also weighed in on the stock. Sidoti lowered shares of Brady from a buy rating to a neutral rating in a report on Tuesday, September 18th. Bank of America set a $42.00 price objective on shares of Brady and gave the stock a sell rating in a report on Monday, September 17th. SunTrust Banks reiterated a hold rating and set a $43.00 price objective on shares of Brady in a report on Monday, November 19th. Finally, ValuEngine upgraded shares of Brady from a hold rating to a buy rating in a report on Thursday, September 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $44.00.

NYSE:BRC opened at $41.37 on Thursday. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 2.41 and a beta of 1.21. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.09 and a current ratio of 2.72. Brady has a 12-month low of $35.00 and a 12-month high of $47.35.

Brady (NYSE:BRC) last released its earnings results on Thursday, November 15th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.06. The company had revenue of $293.20 million for the quarter, compared to analyst estimates of $295.67 million. Brady had a net margin of 8.15% and a return on equity of 15.01%. During the same period in the prior year, the firm earned $0.49 EPS. Analysts forecast that Brady will post 2.28 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Thursday, January 10th will be issued a dividend of $0.2125 per share. The ex-dividend date is Wednesday, January 9th. This represents a $0.85 annualized dividend and a dividend yield of 2.05%. Brady’s payout ratio is currently 41.67%.

In other news, Director Elizabeth P. Bruno sold 24,000 shares of the stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $43.86, for a total transaction of $1,052,640.00. Following the transaction, the director now directly owns 35,090 shares in the company, valued at approximately $1,539,047.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Thomas J. Felmer sold 3,703 shares of the firm’s stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $43.76, for a total transaction of $162,043.28. Following the completion of the transaction, the vice president now owns 58,330 shares in the company, valued at approximately $2,552,520.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 179,614 shares of company stock worth $7,858,550. Insiders own 15.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Brady by 0.4% in the third quarter. Vanguard Group Inc. now owns 5,152,722 shares of the industrial products company’s stock valued at $225,431,000 after buying an additional 22,978 shares during the period. Morgan Stanley raised its holdings in Brady by 21.9% in the third quarter. Morgan Stanley now owns 787,710 shares of the industrial products company’s stock valued at $34,462,000 after buying an additional 141,757 shares during the period. Legal & General Group Plc raised its holdings in Brady by 7.1% in the third quarter. Legal & General Group Plc now owns 111,573 shares of the industrial products company’s stock valued at $4,874,000 after buying an additional 7,397 shares during the period. Teachers Advisors LLC raised its holdings in Brady by 21.8% in the third quarter. Teachers Advisors LLC now owns 143,486 shares of the industrial products company’s stock valued at $6,278,000 after buying an additional 25,709 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Brady by 94.7% in the third quarter. AQR Capital Management LLC now owns 38,659 shares of the industrial products company’s stock valued at $1,691,000 after buying an additional 18,807 shares during the period. Hedge funds and other institutional investors own 76.82% of the company’s stock.

About Brady

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.

See Also: Institutional Investors

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