Brady (NYSE:BRC) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Brady (NYSE:BRC) from a hold rating to a buy rating in a research report report published on Tuesday, ValuEngine reports.

Separately, Zacks Investment Research lowered shares of Brady from a buy rating to a hold rating in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $46.67.

BRC stock opened at $48.92 on Tuesday. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 23.98, a price-to-earnings-growth ratio of 2.72 and a beta of 0.95. The company has a current ratio of 3.03, a quick ratio of 2.36 and a debt-to-equity ratio of 0.06. Brady has a 12-month low of $36.00 and a 12-month high of $50.55. The firm has a fifty day moving average price of $47.68.

Brady (NYSE:BRC) last released its earnings results on Thursday, May 23rd. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.09. The business had revenue of $289.75 million for the quarter, compared to analyst estimates of $292.66 million. Brady had a net margin of 11.15% and a return on equity of 15.85%. Brady’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share. Equities analysts anticipate that Brady will post 2.4 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be issued a $0.2125 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $0.85 annualized dividend and a yield of 1.74%. Brady’s payout ratio is 41.67%.

In other Brady news, CEO J Michael Nauman sold 20,488 shares of Brady stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $48.14, for a total value of $986,292.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Louis T. Bolognini sold 6,250 shares of Brady stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $48.76, for a total transaction of $304,750.00. Following the completion of the sale, the senior vice president now directly owns 34,458 shares of the company’s stock, valued at $1,680,172.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,567 shares of company stock worth $2,586,736. 15.60% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank increased its stake in Brady by 2.2% in the fourth quarter. Comerica Bank now owns 47,814 shares of the industrial products company’s stock valued at $2,088,000 after purchasing an additional 1,030 shares in the last quarter. Oregon Public Employees Retirement Fund bought a new stake in shares of Brady during the fourth quarter worth about $809,000. Prudential Financial Inc. increased its position in shares of Brady by 6.2% during the fourth quarter. Prudential Financial Inc. now owns 85,473 shares of the industrial products company’s stock worth $3,715,000 after acquiring an additional 4,991 shares in the last quarter. First Trust Advisors LP increased its position in shares of Brady by 46.8% during the fourth quarter. First Trust Advisors LP now owns 65,800 shares of the industrial products company’s stock worth $2,860,000 after acquiring an additional 20,982 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Brady by 44.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,595 shares of the industrial products company’s stock worth $113,000 after acquiring an additional 793 shares in the last quarter. 80.64% of the stock is owned by hedge funds and other institutional investors.

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.

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