Brady Corp. (BRC) Hits New 52-Week High at $32.78
Shares of Brady Corp. (NYSE:BRC) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $32.78 and last traded at $32.64, with a volume of 103,221 shares. The stock had previously closed at $32.62.
Separately, Zacks Investment Research downgraded Brady Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $43.60.
Brady Corp. (NYSE:BRC) last announced its quarterly earnings data on Thursday, May 19th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.08. The company earned $286.80 million during the quarter, compared to analysts’ expectations of $276.06 million. During the same quarter in the previous year, the business posted $0.34 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 8th will be paid a $0.2025 dividend. This represents a $0.81 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, July 6th.
In other news, Director Frank W. Harris sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $31.86, for a total transaction of $95,580.00. Following the sale, the director now owns 30,304 shares of the company’s stock, valued at approximately $965,485.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Bentley Curran sold 7,000 shares of the firm’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $31.29, for a total value of $219,030.00. Following the sale, the vice president now directly owns 35,459 shares in the company, valued at approximately $1,109,512.11. The disclosure for this sale can be found here.
Several large investors have modified their holdings of the company. State Board of Administration of Florida Retirement System raised its stake in shares of Brady Corp. by 12.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 46,267 shares of the company’s stock valued at $1,063,000 after buying an additional 5,283 shares during the period. New York State Common Retirement Fund raised its stake in shares of Brady Corp. by 25.2% in the fourth quarter. New York State Common Retirement Fund now owns 112,753 shares of the company’s stock valued at $2,591,000 after buying an additional 22,708 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Brady Corp. by 6.2% in the fourth quarter. Principal Financial Group Inc. now owns 319,154 shares of the company’s stock valued at $7,334,000 after buying an additional 18,514 shares during the period.
Brady Corporation is a manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people. The Company has two segments: Identification Solutions (IDS) and Workplace Safety (WPS). The IDS segment includes identification and healthcare products that are manufactured under various brands, including the Brady brand, and are primarily sold through distribution to a range of maintenance, repair and operations (MRO) and original equipment manufacturing (OEM) customers, and through other channels, including direct sales, catalog marketing and digital.
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