Brady (NYSE:BRC) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Brady (NYSE:BRC) posted its quarterly earnings data on Thursday. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.05, MarketWatch Earnings reports. The business had revenue of $331.90 million during the quarter, compared to analysts’ expectations of $342.01 million. Brady had a net margin of 13.13% and a return on equity of 18.78%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.84 earnings per share. Brady updated its FY24 guidance to $3.85-$4.10 EPS.

Brady Stock Up 2.0 %

Shares of NYSE:BRC opened at $54.51 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. The company has a market cap of $2.64 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.94 and a beta of 0.73. Brady has a 52 week low of $44.71 and a 52 week high of $58.20. The firm has a 50 day simple moving average of $54.34 and a 200 day simple moving average of $51.39.

Brady Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 10th will be given 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 1.72%. Brady’s dividend payout ratio (DPR) is presently 26.78%.

Insiders Place Their Bets

In other Brady news, VP Bentley Curran sold 6,209 shares of the stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $55.96, for a total value of $347,455.64. Following the completion of the sale, the vice president now owns 15,462 shares in the company, valued at approximately $865,253.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP Bentley Curran sold 6,209 shares of the firm’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $55.96, for a total transaction of $347,455.64. Following the transaction, the vice president now owns 15,462 shares in the company, valued at approximately $865,253.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $55.82, for a total transaction of $237,235.00. Following the transaction, the director now owns 11,456 shares in the company, valued at approximately $639,473.92. The disclosure for this sale can be found here. Insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE grew its stake in Brady by 34.5% in the 2nd quarter. US Bancorp DE now owns 775 shares of the industrial products company’s stock valued at $37,000 after buying an additional 199 shares during the last quarter. Lazard Asset Management LLC grew its position in Brady by 14.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,232 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 281 shares during the last quarter. Captrust Financial Advisors grew its position in Brady by 8.6% in the 2nd quarter. Captrust Financial Advisors now owns 3,662 shares of the industrial products company’s stock worth $173,000 after purchasing an additional 290 shares during the last quarter. Belpointe Asset Management LLC grew its position in Brady by 27.1% in the 1st 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. Finally, Cubist Systematic Strategies LLC grew its position in Brady by 2.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 22,064 shares of the industrial products company’s stock worth $1,042,000 after purchasing an additional 495 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com cut shares of Brady from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 11th. Bank of America raised their target price on shares of Brady from $47.00 to $51.00 in a report on Wednesday, October 4th.

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.