Brady Corp. (BRC) VP Sells $221,380.38 in Stock
Brady Corp. (NYSE:BRC) VP Bentley Curran sold 6,378 shares of the business’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $34.71, for a total value of $221,380.38. Following the completion of the transaction, the vice president now directly owns 36,459 shares of the company’s stock, valued at approximately $1,265,491.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Brady Corp. (NYSE:BRC) opened at 35.03 on Wednesday. Brady Corp. has a 12-month low of $20.35 and a 12-month high of $36.12. The company has a 50-day moving average price of $33.97 and a 200-day moving average price of $30.78. The firm has a market cap of $1.77 billion, a PE ratio of 22.20 and a beta of 1.17.
Brady Corp. (NYSE:BRC) last posted its earnings results on Friday, September 9th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.37 by $0.12. Brady Corp. had a net margin of 7.15% and a return on equity of 13.73%. The firm earned $282.10 million during the quarter. During the same quarter last year, the company posted $0.28 EPS. Brady Corp.’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities analysts predict that Brady Corp. will post $1.70 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Tuesday, October 11th will be given a $0.205 dividend. This is a boost from Brady Corp.’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, October 6th. This represents a $0.82 annualized dividend and a yield of 2.34%. Brady Corp.’s dividend payout ratio is 51.27%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in Brady Corp. during the fourth quarter valued at approximately $13,343,000. JPMorgan Chase & Co. boosted its position in Brady Corp. by 31.8% in the first quarter. JPMorgan Chase & Co. now owns 1,823,722 shares of the company’s stock valued at $48,949,000 after buying an additional 440,268 shares during the period. Investec Asset Management LTD purchased a new position in Brady Corp. during the first quarter valued at approximately $9,183,000. Goldman Sachs Group Inc. boosted its position in Brady Corp. by 1,653.2% in the first quarter. Goldman Sachs Group Inc. now owns 356,721 shares of the company’s stock valued at $9,574,000 after buying an additional 336,374 shares during the period. Finally, Vanguard Group Inc. boosted its position in Brady Corp. by 7.9% in the second quarter. Vanguard Group Inc. now owns 3,940,176 shares of the company’s stock valued at $120,411,000 after buying an additional 287,649 shares during the period. Hedge funds and other institutional investors own 75.37% of the company’s stock.
Several brokerages have recently issued reports on BRC. Zacks Investment Research cut Brady Corp. from a “hold” rating to a “sell” rating in a report on Monday, August 1st. Robert W. Baird boosted their price objective on Brady Corp. from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, September 12th. Finally, SunTrust Banks Inc. raised Brady Corp. from a “reduce” rating to a “neutral” rating and boosted their price objective for the company from $24.00 to $34.00 in a report on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $48.60.
About Brady Corp.
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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