Brady Corp. (NYSE:BRC) VP Thomas J. Felmer sold 8,099 shares of Brady Corp. stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $38.00, for a total value of $307,762.00. Following the completion of the transaction, the vice president now directly owns 76,926 shares in the company, valued at approximately $2,923,188. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Brady Corp. (NYSE:BRC) opened at 37.90 on Friday. Brady Corp. has a one year low of $20.35 and a one year high of $38.20. The stock’s 50 day moving average price is $34.76 and its 200 day moving average price is $32.71. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 22.97 and a beta of 1.08.
Brady Corp. (NYSE:BRC) last issued its quarterly earnings results on Wednesday, November 16th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. Brady Corp. had a return on equity of 14.14% and a net margin of 7.51%. The business had revenue of $280.20 million for the quarter, compared to analyst estimates of $277.87 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. Analysts expect that Brady Corp. will post $1.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Tuesday, January 10th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 2.16%. Brady Corp.’s dividend payout ratio (DPR) is presently 49.70%.
Institutional investors have recently modified their holdings of the stock. PineBridge Investments L.P. raised its position in Brady Corp. by 3.8% in the second quarter. PineBridge Investments L.P. now owns 5,925 shares of the company’s stock valued at $181,000 after buying an additional 219 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in Brady Corp. during the second quarter valued at $190,000. Teacher Retirement System of Texas raised its position in Brady Corp. by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 6,576 shares of the company’s stock valued at $201,000 after buying an additional 790 shares during the last quarter. Brighton Jones LLC bought a new position in Brady Corp. during the third quarter valued at $207,000. Finally, Springbok Capital Management LLC raised its position in Brady Corp. by 37.1% in the first quarter. Springbok Capital Management LLC now owns 8,364 shares of the company’s stock valued at $224,000 after buying an additional 2,264 shares during the last quarter. 76.27% of the stock is currently owned by institutional investors and hedge funds.
BRC has been the topic of several research analyst reports. Zacks Investment Research cut Brady Corp. from a “hold” rating to a “sell” rating in a research note on Monday, August 1st. Robert W. Baird lifted their target price on Brady Corp. from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, September 12th. Finally, SunTrust Banks Inc. raised Brady Corp. from a “reduce” rating to a “neutral” rating and lifted their target price for the company from $24.00 to $34.00 in a research note on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $48.60.
About Brady Corp.