Short Interest in Brady Corp (NYSE:BRC) Decreases By 6.9%

Brady Corp (NYSE:BRC) was the target of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 1,678,200 shares, a decrease of 6.9% from the May 30th total of 1,802,900 shares. Based on an average daily volume of 249,200 shares, the short-interest ratio is currently 6.7 days. Currently, 3.5% of the shares of the stock are sold short.

Shares of NYSE:BRC traded down $0.03 during mid-day trading on Monday, hitting $50.53. The stock had a trading volume of 2,376 shares, compared to its average volume of 292,799. The company has a current ratio of 3.03, a quick ratio of 2.36 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $2.67 billion, a P/E ratio of 24.70, a PEG ratio of 2.81 and a beta of 0.95. Brady has a 12-month low of $36.00 and a 12-month high of $50.73. The firm’s 50 day simple moving average is $48.13.

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, topping analysts’ consensus estimates of $0.56 by $0.09. Brady had a net margin of 11.15% and a return on equity of 15.85%. The company had revenue of $289.75 million during the quarter, compared to the consensus estimate of $292.66 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Brady will post 2.4 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be given a $0.2125 dividend. The ex-dividend date is Tuesday, July 9th. This represents a $0.85 dividend on an annualized basis and a yield of 1.68%. Brady’s payout ratio is 41.67%.

In related news, SVP Louis T. Bolognini sold 6,250 shares of the stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Louis T. Bolognini sold 7,424 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $47.75, for a total transaction of $354,496.00. Following the sale, the senior vice president now directly owns 34,264 shares of the company’s stock, valued at $1,636,106. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,567 shares of company stock valued at $2,586,736. Company insiders own 15.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC grew its position in Brady by 107.7% in the 1st quarter. Quadrant Capital Group LLC now owns 920 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 477 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Brady by 44.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,595 shares of the industrial products company’s stock worth $113,000 after purchasing an additional 793 shares during the last quarter. Advisor Group Inc. grew its position in Brady by 45.1% in the 4th quarter. Advisor Group Inc. now owns 2,717 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 845 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in Brady in the 2nd quarter worth $126,000. Finally, Magnus Financial Group LLC acquired a new stake in Brady in the 1st quarter worth $207,000. Institutional investors own 80.67% of the company’s stock.

Several equities research analysts recently commented on BRC shares. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research downgraded shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Co set a $29.00 price target on shares of Establishment Labs and gave the company a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $46.25.

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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