Brady Corp (NYSE:BRC) Director Sells $279,748.70 in Stock

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Brady Corp (NYSE:BRC) Director Bradley C. Richardson sold 5,170 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $54.11, for a total transaction of $279,748.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

BRC traded down $0.18 during trading on Thursday, hitting $54.31. 190,892 shares of the stock were exchanged, compared to its average volume of 263,872. The firm has a market capitalization of $2.97 billion, a P/E ratio of 22.08, a PEG ratio of 2.91 and a beta of 0.95. The stock has a fifty day moving average price of $49.97 and a two-hundred day moving average price of $48.53. Brady Corp has a 1-year low of $38.81 and a 1-year high of $56.42.

Brady (NYSE:BRC) last released 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. The company had revenue of $295.30 million during the quarter, compared to analysts’ expectations of $298.90 million. Brady had a return on equity of 16.15% and a net margin of 11.31%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share. On average, analysts forecast that Brady Corp will post 2.57 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.218 per share. This represents a $0.87 dividend on an annualized basis and a dividend yield of 1.61%. This is a boost from Brady’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, October 9th. Brady’s dividend payout ratio is presently 34.55%.

A number of hedge funds and other institutional investors have recently modified their holdings of 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 Brady during the second quarter valued at approximately $60,000. Advisors Preferred LLC bought a new position in shares of Brady in the second quarter valued at approximately $112,000. Contravisory Investment Management Inc. bought a new position in Brady in the 2nd quarter worth approximately $126,000. Finally, Royal Bank of Canada raised its position in Brady by 46.5% in the 2nd quarter. Royal Bank of Canada now owns 2,834 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 899 shares during the last quarter. 80.51% of the stock is owned by hedge funds and other institutional investors.

BRC has been the subject of several analyst reports. Zacks Investment Research raised shares of Brady from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Wednesday, September 11th. ValuEngine downgraded shares of Brady from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Wells Fargo & Co set a $45.00 price objective on shares of Brady and gave the company a “hold” rating in a research report on Friday, July 12th. Finally, Bank of America lifted their price objective 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $49.25.

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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