According to Zacks, “Brady Corporation is a world leader in complete identification solutions that help companies improve productivity, performance, safety and security. Brady’s products help customers increase safety, security, productivity and performance and include high-performance labels, signs, safety devices, printing systems and software. The Company has a diverse customer base in electronics, telecommunications, manufacturing, electrical, construction, medical, aerospace and a variety of other industries. Brady helps identify people and enhance security by ensuring the right persons are in the right places at the right time. Brady helps customers create and maintain safer work environments and comply with regulatory standards. Brady high-performance materials clearly identify products, components and other assets, even in the most extreme conditions. “
Several other brokerages have also recently issued reports on BRC. Northcoast Research cut Brady from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Co cut Brady from an “equal weight” rating to an “underweight” rating and set a $50.00 target price on the stock. in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Brady presently has a consensus rating of “Hold” and a consensus price target of $54.33.
Brady (NYSE:BRC) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Brady had a return on equity of 16.47% and a net margin of 11.97%. The company had revenue of $287.00 million for the quarter, compared to analysts’ expectations of $293.67 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. Brady’s revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Brady will post 2.64 EPS for the current fiscal year.
In other Brady news, VP Russell Shaller sold 4,363 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $58.03, for a total transaction of $253,184.89. Following the sale, the vice president now owns 50,115 shares of the company’s stock, valued at approximately $2,908,173.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank W. Harris sold 1,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $57.88, for a total value of $57,880.00. Following the sale, the director now directly owns 26,860 shares in the company, valued at approximately $1,554,656.80. The disclosure for this sale can be found here. Insiders have sold a total of 31,979 shares of company stock worth $1,837,534 in the last ninety days. Insiders own 15.60% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC lifted its holdings in shares of Brady by 474.0% during the 3rd quarter. CWM LLC now owns 574 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 474 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Brady during the 3rd quarter valued at $101,000. Royal Bank of Canada lifted its holdings in shares of Brady by 46.5% during the 2nd quarter. Royal Bank of Canada now owns 2,834 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 899 shares during the last quarter. FMR LLC lifted its holdings in shares of Brady by 87.6% during the 4th quarter. FMR LLC now owns 2,555 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 1,193 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Brady by 32.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,409 shares of the industrial products company’s stock valued at $181,000 after purchasing an additional 829 shares during the last quarter. 79.33% of the stock is currently owned by institutional investors and hedge funds.
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 IDS segment offers safety signs, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials and printing systems for product identification, brand protection labeling, work in process labeling, and finished product identification; and hand-held printers, wire markers, sleeves, and tags for wire identification, as well as software and services for safety compliance auditing, procedure writing, and training.
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