Brady (NYSE:BRC) Reaches New 52-Week High at $56.42

Brady Corp (NYSE:BRC)’s stock price reached a new 52-week high on Monday . The company traded as high as $56.42 and last traded at $56.30, with a volume of 1087 shares traded. The stock had previously closed at $55.29.

A number of research firms have weighed in on BRC. Wells Fargo & Co set a $45.00 price target on shares of Brady and gave the stock a “hold” rating in a research note on Friday, July 12th. Zacks Investment Research raised shares of Brady from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, September 11th. ValuEngine downgraded shares of Brady from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Bank of America increased their price target on shares of Brady from $46.00 to $49.00 and gave the stock an “underperform” rating in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $49.25.

The company has a market cap of $2.95 billion, a PE ratio of 22.91, a P/E/G ratio of 2.89 and a beta of 0.92. The stock’s 50 day simple moving average is $52.29 and its two-hundred day simple moving average is $49.55.

Brady (NYSE:BRC) last posted its quarterly earnings results on Friday, September 6th. The industrial products company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.07. Brady had a net margin of 11.31% and a return on equity of 16.15%. The company had revenue of $295.30 million for the quarter, compared to the consensus estimate of $298.90 million. During the same quarter last year, the firm posted $0.66 earnings per share. Brady’s revenue was down .7% on a year-over-year basis. On average, equities research analysts predict that Brady Corp will post 2.57 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a $0.218 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $0.87 annualized dividend and a dividend yield of 1.55%. This is a positive change from Brady’s previous quarterly dividend of $0.21. Brady’s dividend payout ratio is presently 35.37%.

In other news, Director Frank W. Harris sold 24,817 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $5.52, for a total value of $136,989.84. Also, VP Bentley Curran sold 10,982 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $51.92, for a total transaction of $570,185.44. Following the completion of the sale, the vice president now directly owns 33,760 shares of the company’s stock, valued at approximately $1,752,819.20. The disclosure for this sale can be found here. Insiders sold 123,636 shares of company stock valued at $5,395,066 in the last three months. Company insiders own 15.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in BRC. KBC Group NV acquired a new stake in shares of Brady in the second quarter worth $59,000. Krane Funds Advisors LLC acquired a new stake in shares of Brady in the second quarter worth $60,000. Advisors Preferred LLC acquired a new stake in shares of Brady in the second quarter worth $112,000. Contravisory Investment Management Inc. acquired a new stake in shares of Brady in the second quarter worth $126,000. Finally, Royal Bank of Canada increased its position in shares of Brady by 46.5% in the second quarter. Royal Bank of Canada now owns 2,834 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 899 shares in the last quarter. 80.32% of the stock is owned by institutional investors.

About Brady (NYSE:BRC)

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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