Brady (NYSE:BRC) Sets New 12-Month High on Earnings Beat

Brady Co. (NYSE:BRC) shares reached a new 52-week high on Friday following a better than expected earnings announcement. The company traded as high as $75.98 and last traded at $75.47, with a volume of 102940 shares. The stock had previously closed at $71.81.

The industrial products company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. Brady had a net margin of 14.22% and a return on equity of 19.61%. The firm had revenue of $343.40 million for the quarter, compared to analyst estimates of $351.74 million. During the same period in the prior year, the firm earned $1.04 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year.

Brady Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Thursday, October 10th. This is an increase from Brady’s previous quarterly dividend of $0.24. Brady’s payout ratio is currently 23.98%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Brady from a “strong-buy” rating to a “buy” rating in a research report on Saturday.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in shares of Brady by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 261,475 shares of the industrial products company’s stock valued at $15,346,000 after buying an additional 2,095 shares in the last quarter. Versor Investments LP acquired a new stake in Brady in the 4th quarter valued at about $376,000. BNP Paribas Financial Markets increased its holdings in Brady by 65.8% during the 4th quarter. BNP Paribas Financial Markets now owns 14,055 shares of the industrial products company’s stock valued at $825,000 after acquiring an additional 5,579 shares in the last quarter. Seizert Capital Partners LLC acquired a new position in Brady during the fourth quarter worth about $1,418,000. Finally, QRG Capital Management Inc. raised its position in Brady by 18.7% during the fourth quarter. QRG Capital Management Inc. now owns 9,969 shares of the industrial products company’s stock worth $585,000 after acquiring an additional 1,574 shares during the last quarter. 76.28% of the stock is owned by hedge funds and other institutional investors.

Brady Stock Up 0.5 %

The firm’s fifty day simple moving average is $70.06 and its 200-day simple moving average is $64.42. The company has a market cap of $3.43 billion, a PE ratio of 18.42, a P/E/G ratio of 2.20 and a beta of 0.76. The company has a quick ratio of 1.45, a current ratio of 2.06 and a debt-to-equity ratio of 0.06.

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.