Brady Corp (NYSE:BRC) – Equities researchers at Northcoast Research raised their Q3 2018 earnings per share estimates for Brady in a note issued to investors on Thursday. Northcoast Research analyst K. Housum now anticipates that the industrial products company will earn $0.50 per share for the quarter, up from their previous forecast of $0.47. Northcoast Research also issued estimates for Brady’s Q4 2019 earnings at $0.66 EPS and FY2019 earnings at $2.28 EPS.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Brady from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. Bank of America raised shares of Brady from an “underperform” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Tuesday, January 2nd. SunTrust Banks reaffirmed a “hold” rating and issued a $39.00 price objective on shares of Brady in a research report on Friday, November 17th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $36.00 price objective on shares of Brady in a research report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $41.00.
Brady (NYSE:BRC) last posted its earnings results on Thursday, November 16th. The industrial products company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $290.15 million for the quarter, compared to analysts’ expectations of $286.75 million. Brady had a net margin of 8.81% and a return on equity of 13.90%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 10th will be issued a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Tuesday, January 9th. Brady’s dividend payout ratio is currently 43.92%.
In other Brady news, VP Thomas J. Felmer sold 2,649 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $39.52, for a total value of $104,688.48. Following the sale, the vice president now owns 57,668 shares of the company’s stock, valued at approximately $2,279,039.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Thomas J. Felmer sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $39.00, for a total transaction of $390,000.00. Following the completion of the sale, the vice president now directly owns 78,474 shares in the company, valued at approximately $3,060,486. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,813 shares of company stock worth $2,336,542. 15.60% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in BRC. Riverhead Capital Management LLC grew its holdings in Brady by 62.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,095 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 1,195 shares during the last quarter. Hartford Investment Management Co. bought a new stake in Brady in the 3rd quarter worth $204,000. Amalgamated Bank grew its holdings in Brady by 5.0% in the 2nd quarter. Amalgamated Bank now owns 6,403 shares of the industrial products company’s stock worth $217,000 after acquiring an additional 305 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Brady by 54.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,316 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 2,591 shares during the period. Finally, Bowling Portfolio Management LLC purchased a new stake in shares of Brady in the 4th quarter worth about $276,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.
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, and the WPS segment includes workplace safety and compliance products.
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