Brady (BRC) Announces Quarterly Earnings Results

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Brady (NYSE:BRC) posted its quarterly earnings results on Thursday. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.06, MarketWatch Earnings reports. The company had revenue of $293.20 million for the quarter, compared to analyst estimates of $295.67 million. Brady had a net margin of 7.76% and a return on equity of 14.67%. During the same period last year, the business posted $0.49 EPS. Brady updated its FY 2019 guidance to $2.20-2.30 EPS and its FY19 guidance to $2.20-2.30 EPS.

Shares of NYSE:BRC traded up $0.43 during midday trading on Friday, reaching $43.27. 101,940 shares of the company’s stock were exchanged, compared to its average volume of 277,825. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 2.55 and a beta of 1.22. Brady has a 12 month low of $35.00 and a 12 month high of $47.35. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.88 and a current ratio of 2.47.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Thursday, January 10th will be issued a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Wednesday, January 9th. Brady’s payout ratio is 41.67%.

BRC has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Brady from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Monday, September 17th. ValuEngine upgraded shares of Brady from a “hold” rating to a “buy” rating in a research report on Thursday, September 6th. Sidoti lowered shares of Brady from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 18th. Finally, Bank of America set a $42.00 price target on shares of Brady and gave the stock a “sell” rating in a research report on Monday, September 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $44.33.

In other news, VP Thomas J. Felmer sold 3,703 shares of the firm’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $43.76, for a total transaction of $162,043.28. Following the completion of the transaction, the vice president now directly owns 58,330 shares of the company’s stock, valued at approximately $2,552,520.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas J. Felmer sold 35,000 shares of the firm’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $42.71, for a total transaction of $1,494,850.00. Following the transaction, the vice president now directly owns 93,115 shares of the company’s stock, valued at $3,976,941.65. The disclosure for this sale can be found here. Insiders have sold a total of 181,281 shares of company stock valued at $7,913,313 over the last ninety days. 15.60% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Brady by 2.8% during the 3rd quarter. BlackRock Inc. now owns 6,865,328 shares of the industrial products company’s stock worth $300,357,000 after acquiring an additional 186,243 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Brady by 14.0% during the 3rd quarter. Renaissance Technologies LLC now owns 2,221,698 shares of the industrial products company’s stock worth $97,199,000 after acquiring an additional 273,098 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Brady by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,823,061 shares of the industrial products company’s stock worth $70,279,000 after acquiring an additional 45,173 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Brady by 12.9% during the 2nd quarter. Wells Fargo & Company MN now owns 1,413,776 shares of the industrial products company’s stock worth $54,501,000 after acquiring an additional 161,439 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Brady by 4.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 808,918 shares of the industrial products company’s stock worth $35,391,000 after acquiring an additional 36,565 shares during the period. 75.30% of the stock is owned by institutional investors.

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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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Earnings History for Brady (NYSE:BRC)

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