Brady (NYSE:BRC) Releases FY24 Earnings Guidance

Brady (NYSE:BRC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.85-$4.10 for the period, compared to the consensus estimate of $4.06.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Bank of America increased their price target on shares of Brady from $47.00 to $51.00 in a research report on Wednesday, October 4th. StockNews.com lowered shares of Brady from a strong-buy rating to a buy rating in a research report on Saturday, November 11th.

Brady Price Performance

Shares of BRC opened at $53.42 on Friday. The firm has a market cap of $2.58 billion, a PE ratio of 15.22, a PEG ratio of 1.94 and a beta of 0.73. The firm’s 50 day moving average price is $54.36 and its 200 day moving average price is $51.37. 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 twelve month low of $44.71 and a twelve month high of $58.20.

Brady (NYSE:BRC) last issued its quarterly earnings data on Thursday, November 16th. The industrial products company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.05. The firm had revenue of $331.90 million for the quarter, compared to analyst estimates of $342.01 million. Brady had a net margin of 13.13% and a return on equity of 18.78%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 earnings per share. As a group, research analysts expect that Brady will post 4 EPS for the current fiscal year.

Brady Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th will be paid a $0.235 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.94 annualized dividend and a dividend yield of 1.76%. Brady’s payout ratio is 26.78%.

Insider Transactions at Brady

In other news, Director Nancy Lee Gioia sold 4,250 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $55.82, for a total value of $237,235.00. Following the sale, the director now owns 11,456 shares in the company, valued at $639,473.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Bentley Curran sold 6,209 shares of the firm’s 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 completion of the transaction, the vice president now directly owns 15,462 shares of the company’s stock, valued at $865,253.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Nancy Lee Gioia sold 4,250 shares of the firm’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 of the company’s stock, valued at $639,473.92. The disclosure for this sale can be found here. 15.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp lifted its position in Brady by 8.2% in the third quarter. State Street Corp now owns 5,373,289 shares of the industrial products company’s stock worth $224,227,000 after purchasing an additional 409,452 shares during the period. Vanguard Group Inc. lifted its position in Brady by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,332,099 shares of the industrial products company’s stock worth $246,716,000 after purchasing an additional 17,763 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Brady by 8.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,009,621 shares of the industrial products company’s stock valued at $94,934,000 after acquiring an additional 148,426 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Brady by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,418,747 shares of the industrial products company’s stock valued at $76,227,000 after acquiring an additional 8,992 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Brady by 0.4% during the first quarter. Geode Capital Management LLC now owns 925,920 shares of the industrial products company’s stock valued at $49,750,000 after acquiring an additional 3,881 shares during the period. 71.30% of the stock is owned by institutional investors.

About Brady

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.