Brady (BRC) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Brady (NYSE:BRC) from a hold rating to a buy rating in a research report released on Tuesday morning. They currently have $43.00 target price on the industrial products company’s stock.
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. “
A number of other equities analysts also recently commented on BRC. Bank of America upped their target price on Brady from $34.00 to $35.00 and gave the company an underperform rating in a report on Friday, November 17th. SunTrust Banks restated a hold rating and set a $39.00 target price on shares of Brady in a report on Friday, November 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $40.00.
Brady (NYSE:BRC) last announced its earnings results on Thursday, February 22nd. The industrial products company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The company had revenue of $287.78 million during the quarter, compared to the consensus estimate of $277.17 million. Brady had a return on equity of 14.10% and a net margin of 6.82%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share. research analysts expect that Brady will post 1.98 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Monday, April 9th will be issued a dividend of $0.2075 per share. The ex-dividend date is Friday, April 6th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 2.21%. Brady’s dividend payout ratio is presently 56.08%.
In related news, VP Thomas J. Felmer sold 2,649 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $39.52, for a total value of $104,688.48. Following the sale, the vice president now directly owns 57,668 shares of the company’s stock, valued at $2,279,039.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Bentley Curran sold 20,000 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $39.00, for a total value of $780,000.00. Following the completion of the sale, the vice president now directly owns 52,597 shares in the company, valued at $2,051,283. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,433 shares of company stock valued at $1,734,482. 15.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its stake in Brady by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 35,785 shares of the industrial products company’s stock worth $1,214,000 after purchasing an additional 456 shares during the period. Louisiana State Employees Retirement System grew its stake in Brady by 6.7% in the fourth quarter. Louisiana State Employees Retirement System now owns 20,700 shares of the industrial products company’s stock worth $785,000 after purchasing an additional 1,300 shares during the period. Meadow Creek Investment Management LLC grew its stake in Brady by 25.3% in the fourth quarter. Meadow Creek Investment Management LLC now owns 6,664 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 1,344 shares during the period. Nisa Investment Advisors LLC grew its stake in Brady by 5.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 29,070 shares of the industrial products company’s stock worth $1,102,000 after purchasing an additional 1,500 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Brady by 6.5% in the fourth quarter. Victory Capital Management Inc. now owns 27,628 shares of the industrial products company’s stock worth $1,047,000 after purchasing an additional 1,676 shares during the period. 77.94% of the stock is currently owned by institutional investors.
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Brady Company Profile
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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