Brady Corp (BRC) to Issue Quarterly Dividend of $0.21 on January 31st
Brady Corp (NYSE:BRC) declared a quarterly dividend on Wednesday, November 15th, RTT News reports. Shareholders of record on Wednesday, January 10th will be paid a dividend of 0.2075 per share by the industrial products company on Wednesday, January 31st. This represents a $0.83 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Tuesday, January 9th.
Brady has increased its dividend by an average of 1.6% annually over the last three years and has raised its dividend every year for the last 32 years. Brady has a dividend payout ratio of 43.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Brady to earn $2.07 per share next year, which means the company should continue to be able to cover its $0.83 annual dividend with an expected future payout ratio of 40.1%.
Shares of Brady (NYSE:BRC) opened at $38.65 on Monday. The firm has a market capitalization of $1,992.72, a price-to-earnings ratio of 20.45, a PEG ratio of 2.67 and a beta of 1.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.62 and a current ratio of 2.19. Brady has a one year low of $31.70 and a one year high of $40.50.
Brady (NYSE:BRC) last released its quarterly earnings data on Thursday, November 16th. The industrial products company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. The business had revenue of $290.15 million during the quarter, compared to analyst estimates of $286.75 million. Brady had a return on equity of 13.90% and a net margin of 8.81%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company posted $0.44 EPS. research analysts anticipate that Brady will post 1.93 earnings per share for the current year.
Several brokerages have recently commented on BRC. Zacks Investment Research raised Brady from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Monday, November 20th. Bank of America raised Brady from an “underperform” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Tuesday, January 2nd. SunTrust Banks reaffirmed a “hold” rating and issued a $38.00 target price on shares of Brady in a research report on Friday, October 27th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $36.00 target price on shares of Brady in a research report on Friday, October 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $41.00.
In other Brady news, Director Bradley C. Richardson sold 1,400 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $39.15, for a total transaction of $54,810.00. Following the transaction, the director now directly owns 2,511 shares in the company, valued at $98,305.65. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Thomas J. Felmer sold 3,980 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $39.51, for a total value of $157,249.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,029 shares of company stock valued at $706,748. 15.60% of the stock is owned by corporate insiders.
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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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