Brady (BRC) Announces Earnings Results

Brady (NYSE:BRC) announced its quarterly earnings data on Thursday. The industrial products company reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.09, RTT News reports. Brady had a return on equity of 15.17% and a net margin of 10.31%. The firm had revenue of $289.75 million during the quarter, compared to analyst estimates of $292.66 million. During the same period last year, the company posted $0.49 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. Brady updated its FY 2019 guidance to $2.35-2.40 EPS and its FY19 guidance to $2.35-2.40 EPS.

Shares of Brady stock opened at $46.64 on Friday. The stock has a market cap of $2.46 billion, a PE ratio of 22.86, a PEG ratio of 2.72 and a beta of 0.98. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.34. Brady has a 52-week low of $36.00 and a 52-week high of $50.12.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.2125 per share. The ex-dividend date is Tuesday, July 9th. This represents a $0.85 annualized dividend and a dividend yield of 1.82%. Brady’s dividend payout ratio is 41.67%.

In other news, VP Bentley Curran sold 21,814 shares of Brady stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $47.52, for a total transaction of $1,036,601.28. Following the completion of the sale, the vice president now directly owns 39,828 shares in the company, valued at approximately $1,892,626.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Elizabeth P. Bruno sold 8,400 shares of Brady stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $47.65, for a total value of $400,260.00. Following the sale, the director now owns 370,532 shares of the company’s stock, valued at $17,655,849.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,779 shares of company stock valued at $4,753,943. 15.60% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Brady by 1.4% during the 1st quarter. BlackRock Inc. now owns 7,172,224 shares of the industrial products company’s stock valued at $332,862,000 after buying an additional 97,954 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Brady by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,824,565 shares of the industrial products company’s stock valued at $79,294,000 after buying an additional 6,243 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Brady by 10.6% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,373,925 shares of the industrial products company’s stock valued at $63,765,000 after buying an additional 131,300 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Brady by 24.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,265,138 shares of the industrial products company’s stock valued at $58,715,000 after buying an additional 249,826 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Brady during the 4th quarter valued at about $43,189,000. Institutional investors and hedge funds own 77.36% of the company’s stock.

A number of brokerages have commented on BRC. ValuEngine lowered Brady from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Zacks Investment Research lowered Brady from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. Finally, Northcoast Research restated a “buy” rating on shares of Brady in a research report on Wednesday, February 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Brady has an average rating of “Hold” and an average target price of $46.00.

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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 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.

Further Reading: What is net income?

Earnings History for Brady (NYSE:BRC)

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