Brady Co. Announces Quarterly Dividend of $0.23 (NYSE:BRC)

Brady Co. (NYSE:BRCGet Rating) announced a quarterly dividend on Wednesday, May 25th, Zacks reports. Stockholders of record on Friday, July 8th will be given a dividend of 0.225 per share by the industrial products company on Friday, July 29th. This represents a $0.90 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Thursday, July 7th.

Brady has raised its dividend by an average of 2.0% per year over the last three years and has increased its dividend every year for the last 37 years. Brady has a dividend payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Brady to earn $3.40 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 26.5%.

BRC opened at $48.33 on Friday. The company has a current ratio of 2.20, a quick ratio of 1.46 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.49 billion, a PE ratio of 18.88, a P/E/G ratio of 2.13 and a beta of 0.80. The firm has a 50 day moving average of $45.66 and a two-hundred day moving average of $48.96. Brady has a 12-month low of $41.69 and a 12-month high of $61.76.

Brady (NYSE:BRCGet Rating) last issued its quarterly earnings results on Thursday, May 26th. The industrial products company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Brady had a net margin of 10.81% and a return on equity of 15.49%. The firm had revenue of $338.60 million during the quarter, compared to analysts’ expectations of $333.91 million. During the same quarter in the prior year, the business earned $0.71 EPS. Brady’s quarterly revenue was up 14.6% compared to the same quarter last year. As a group, analysts predict that Brady will post 3 EPS for the current fiscal year.

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

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

Several hedge funds have recently modified their holdings of BRC. Morgan Stanley grew its stake in Brady by 16.2% during the 2nd quarter. Morgan Stanley now owns 222,138 shares of the industrial products company’s stock worth $12,447,000 after buying an additional 30,917 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Brady by 9.2% during the third quarter. Royal Bank of Canada now owns 4,562 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 386 shares during the last quarter. UBS Group AG grew its position in shares of Brady by 9.7% in the third quarter. UBS Group AG now owns 28,582 shares of the industrial products company’s stock valued at $1,449,000 after purchasing an additional 2,521 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Brady in the third quarter valued at approximately $230,000. Finally, Credit Suisse AG grew its position in Brady by 5.8% in the fourth quarter. Credit Suisse AG now owns 42,722 shares of the industrial products company’s stock worth $2,302,000 after acquiring an additional 2,329 shares during the period. 78.70% of the stock is owned by hedge funds and other institutional investors.

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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Dividend History for Brady (NYSE:BRC)

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