Brady (NYSE:BRC) Downgraded to “Underweight” at Wells Fargo & Co

Wells Fargo & Co downgraded shares of Brady (NYSE:BRC) from an equal weight rating to an underweight rating in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. They currently have $50.00 price target on the industrial products company’s stock.

Several other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Brady from a buy rating to a hold rating in a report on Tuesday, January 7th. Northcoast Research downgraded shares of Brady from a buy rating to a neutral rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $54.33.

NYSE:BRC traded down $0.28 during trading hours on Tuesday, hitting $57.56. 137,623 shares of the company were exchanged, compared to its average volume of 158,133. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 2.85 and a beta of 0.91. Brady has a 52-week low of $43.19 and a 52-week high of $59.11. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.32 and a quick ratio of 1.85. The company’s 50 day moving average price is $57.33 and its 200-day moving average price is $53.59.

Brady (NYSE:BRC) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. The business had revenue of $287.00 million for the quarter, compared to the consensus estimate of $293.67 million. Brady had a net margin of 11.97% and a return on equity of 16.47%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 EPS. On average, equities analysts predict that Brady will post 2.65 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be issued a $0.218 dividend. This represents a $0.87 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, January 9th. Brady’s dividend payout ratio (DPR) is currently 35.37%.

In other news, CEO J Michael Nauman sold 3,250 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $56.00, for a total value of $182,000.00. Following the sale, the chief executive officer now directly owns 109,534 shares of the company’s stock, valued at approximately $6,133,904. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Bentley Curran sold 13,996 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $57.31, for a total transaction of $802,110.76. Following the completion of the sale, the vice president now directly owns 23,204 shares in the company, valued at $1,329,821.24. The disclosure for this sale can be found here. Insiders sold a total of 42,187 shares of company stock worth $2,421,400 over the last ninety days. Insiders own 15.60% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of BRC. Nuveen Asset Management LLC acquired a new position in shares of Brady in the 2nd quarter valued at $14,010,000. Man Group plc lifted its stake in shares of Brady by 81.2% in the 3rd quarter. Man Group plc now owns 466,181 shares of the industrial products company’s stock valued at $24,731,000 after purchasing an additional 208,929 shares during the period. Morgan Stanley lifted its stake in shares of Brady by 68.2% in the 2nd quarter. Morgan Stanley now owns 251,018 shares of the industrial products company’s stock valued at $12,380,000 after purchasing an additional 101,753 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Brady by 6.0% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,360,315 shares of the industrial products company’s stock valued at $72,165,000 after purchasing an additional 77,565 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Brady by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 5,375,200 shares of the industrial products company’s stock valued at $265,104,000 after purchasing an additional 75,598 shares during the period. Hedge funds and other institutional investors own 79.47% of the company’s stock.

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.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

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