Brady Co. (NYSE:BRC) Sees Significant Increase in Short Interest

Brady Co. (NYSE:BRCGet Rating) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 928,700 shares, an increase of 40.1% from the March 31st total of 663,000 shares. Based on an average daily volume of 263,200 shares, the short-interest ratio is presently 3.5 days. Approximately 2.0% of the shares of the stock are short sold.

A number of equities research analysts have recently weighed in on BRC shares. StockNews.com raised Brady from a “hold” rating to a “buy” rating in a research note on Friday, March 25th. Wells Fargo & Company lowered Brady from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $60.00 to $52.00 in a research note on Friday, February 18th. Finally, Zacks Investment Research raised Brady from a “sell” rating to a “hold” rating in a research note on Tuesday, April 26th.

In other news, VP Russell Shaller purchased 10,000 shares of the company’s stock in a transaction on Tuesday, March 15th. The stock was purchased at an average price of $43.50 per share, with a total value of $435,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new stake in shares of Brady during the 3rd quarter valued at $64,000. Parallel Advisors LLC boosted its holdings in shares of Brady by 3,227.9% during the 1st quarter. Parallel Advisors LLC now owns 1,431 shares of the industrial products company’s stock valued at $68,000 after buying an additional 1,388 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Brady by 27.4% during the 4th quarter. Lazard Asset Management LLC now owns 1,951 shares of the industrial products company’s stock valued at $105,000 after buying an additional 420 shares in the last quarter. ARK Investment Management LLC boosted its holdings in shares of Brady by 7.1% during the 1st quarter. ARK Investment Management LLC now owns 3,892 shares of the industrial products company’s stock valued at $180,000 after buying an additional 257 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Brady by 9.3% during the 3rd quarter. American Century Companies Inc. now owns 4,487 shares of the industrial products company’s stock valued at $227,000 after buying an additional 380 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

NYSE:BRC traded down $1.11 during mid-day trading on Friday, reaching $44.75. 1,619,740 shares of the company’s stock traded hands, compared to its average volume of 289,900. Brady has a 12-month low of $41.69 and a 12-month high of $61.76. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 2.18 and a beta of 0.84. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.20 and a quick ratio of 1.46. The company has a 50 day moving average price of $45.54 and a 200-day moving average price of $49.85.

Brady (NYSE:BRCGet Rating) last announced its quarterly earnings results on Thursday, February 17th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.70. Brady had a return on equity of 15.49% and a net margin of 10.81%. The company had revenue of $318.06 million for the quarter, compared to the consensus estimate of $304.64 million. During the same quarter in the previous year, the business earned $0.59 EPS. Brady’s revenue was up 19.6% compared to the same quarter last year. As a group, analysts forecast that Brady will post 3 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Friday, April 8th were issued a dividend of $0.225 per share. The ex-dividend date was Thursday, April 7th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.01%. Brady’s dividend payout ratio (DPR) is 35.16%.

About Brady (Get Rating)

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, floor-marking tapes, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials, printing systems, RFID and bar code scanners 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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