Brady (NYSE:BRC) Announces Earnings Results, Beats Expectations By $0.01 EPS

Brady (NYSE:BRC) issued its quarterly earnings data on Thursday. The industrial products company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.01, FiscalAI reports. Brady had a return on equity of 19.01% and a net margin of 12.93%.The business had revenue of $436.90 million for the quarter, compared to analysts’ expectations of $427.91 million. During the same period last year, the business earned $1.04 EPS.

Brady Stock Up 0.0%

Shares of NYSE BRC opened at $90.41 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.01 and a quick ratio of 1.36. The stock has a market capitalization of $4.26 billion, a PE ratio of 20.60 and a beta of 0.61. Brady has a one year low of $70.57 and a one year high of $99.29. The business’s fifty day moving average price is $93.20 and its 200-day moving average price is $87.68.

Brady Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 9th will be paid a $0.25 dividend. The ex-dividend date is Friday, October 9th. This is a boost from Brady’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Brady’s dividend payout ratio is presently 22.32%.

Insiders Place Their Bets

In other Brady news, CEO Vineet A. Nargolwala bought 13,011 shares of Brady stock in a transaction dated Wednesday, June 10th. The stock was purchased at an average price of $76.86 per share, for a total transaction of $1,000,025.46. Following the completion of the purchase, the chief executive officer directly owned 52,709 shares of the company’s stock, valued at approximately $4,051,213.74. This trade represents a 32.77% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 15.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Brady

Hedge funds and other institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC grew its position in shares of Brady by 42.4% in the fourth quarter. Global Retirement Partners LLC now owns 450 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 134 shares in the last quarter. Raymond James Financial Inc. grew its holdings in Brady by 0.9% during the 2nd quarter. Raymond James Financial Inc. now owns 26,093 shares of the industrial products company’s stock valued at $1,774,000 after buying an additional 238 shares in the last quarter. Amundi increased its position in shares of Brady by 3.4% during the third quarter. Amundi now owns 8,135 shares of the industrial products company’s stock valued at $617,000 after buying an additional 266 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Brady by 89.0% in the second quarter. EverSource Wealth Advisors LLC now owns 684 shares of the industrial products company’s stock worth $46,000 after buying an additional 322 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of Brady in the third quarter valued at approximately $31,000. Institutional investors own 76.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Brady from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Weiss Ratings upgraded Brady from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday. Finally, Sidoti raised Brady from a “neutral” rating to a “buy” rating and set a $103.00 target price for the company in a report on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $103.00.

Brady Company Profile

Brady Corporation is a global provider of identification and safety solutions, specializing in the design, manufacture and sale of products that help businesses improve safety, security and efficiency. The company offers an array of durable labels, signs, safety devices, printing systems and software platforms tailored to a wide range of industrial and commercial environments.

Founded in 1914 by William H. Brady, Brady Corporation has grown from a regional marker manufacturer into a diversified global enterprise.