Brady Co. Declares Quarterly Dividend of $0.24 (NYSE:BRC)

Brady Co. (NYSE:BRC) declared a quarterly dividend on Wednesday, November 15th, Zacks reports. Stockholders of record on Wednesday, January 10th will be paid a dividend of 0.235 per share by the industrial products company on Wednesday, January 31st. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Tuesday, January 9th.

Brady has increased its dividend payment by an average of 1.9% per year over the last three years and has increased its dividend every year for the last 38 years. Brady has a payout ratio of 23.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Brady to earn $4.15 per share next year, which means the company should continue to be able to cover its $0.94 annual dividend with an expected future payout ratio of 22.7%.

Brady Price Performance

Shares of NYSE:BRC opened at $53.42 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.35 and a current ratio of 2.03. Brady has a one year low of $44.71 and a one year high of $58.20. The company has a 50-day simple moving average of $54.36 and a 200-day simple moving average of $51.37. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 1.94 and a beta of 0.73.

Brady (NYSE:BRC) last posted its quarterly earnings data on Thursday, November 16th. The industrial products company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.95 by $0.05. Brady had a return on equity of 18.78% and a net margin of 13.13%. The firm had revenue of $331.90 million during the quarter, compared to the consensus estimate of $342.01 million. During the same period in the prior year, the business earned $0.84 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. On average, analysts predict that Brady will post 4 EPS for the current year.

Wall Street Analysts Forecast Growth

BRC has been the subject of several recent analyst reports. StockNews.com cut shares of Brady from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 11th. Bank of America raised their price objective on shares of Brady from $47.00 to $51.00 in a research report on Wednesday, October 4th.

Insider Transactions at Brady

In related news, VP Bentley Curran sold 6,209 shares of Brady stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $55.96, for a total transaction of $347,455.64. Following the completion of the transaction, the vice president now directly owns 15,462 shares in the company, valued at approximately $865,253.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Brady news, Director Nancy Lee Gioia sold 4,250 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $55.82, for a total value of $237,235.00. Following the completion of the transaction, the director now directly owns 11,456 shares in the company, valued at approximately $639,473.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Bentley Curran sold 6,209 shares of the stock in a transaction on Monday, September 25th. The stock was sold at an average price of $55.96, for a total value of $347,455.64. Following the transaction, the vice president now directly owns 15,462 shares in the company, valued at approximately $865,253.52. The disclosure for this sale can be found here. Corporate insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Brady

Large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC purchased a new stake in Brady in the 1st quarter valued at about $28,000. US Bancorp DE grew its holdings in Brady by 34.5% in the second quarter. US Bancorp DE now owns 775 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 199 shares during the period. Belpointe Asset Management LLC increased its position in Brady by 27.1% during the first quarter. Belpointe Asset Management LLC now owns 1,456 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 310 shares during the last quarter. Quarry LP purchased a new position in Brady during the second quarter worth approximately $71,000. Finally, Lazard Asset Management LLC boosted its holdings in shares of Brady by 14.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,232 shares of the industrial products company’s stock valued at $103,000 after purchasing an additional 281 shares during the last quarter. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Brady Company Profile

Brady Corporation manufactures and supplies identification solutions (IDS) and workplace safety (WPS) products to identify and protect premises, products, and people in the United States and internationally. The company offers materials, printing systems, RFID, and bar code scanners for product identification, brand protection labeling, work in process labeling, finished product identification, and industrial track and trace applications; safety signs, floor-marking tapes, pipe markers, labeling systems, spill control products, lockout/tagout device, and software and services for safety compliance auditing, procedure writing, and training; and hand-held printers, wire markers, sleeves, and tags for wire identification.