Brady (NYSE:BRC) had its price objective upped by Bank of America from $46.00 to $49.00 in a report released on Monday morning, BenzingaRatingsTable reports. Bank of America currently has an underperform rating on the industrial products company’s stock.
A number of other analysts have also issued reports on BRC. Wells Fargo & Co set a $45.00 price target on Brady and gave the stock a hold rating in a research note on Friday, July 12th. ValuEngine lowered Brady from a buy rating to a hold rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research lowered Brady from a hold rating to a sell rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $49.25.
Shares of NYSE:BRC opened at $54.57 on Monday. The stock’s 50-day moving average price is $49.44 and its two-hundred day moving average price is $48.31. Brady has a 12-month low of $38.81 and a 12-month high of $54.86. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 2.73 and a beta of 0.95.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a $0.218 dividend. This represents a $0.87 dividend on an annualized basis and a yield of 1.60%. This is a positive change from Brady’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, October 9th. Brady’s dividend payout ratio (DPR) is presently 34.55%.
In other news, SVP Louis T. Bolognini sold 9,288 shares of Brady stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $51.08, for a total value of $474,431.04. Following the transaction, the senior vice president now directly owns 31,484 shares of the company’s stock, valued at approximately $1,608,202.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Bentley Curran sold 10,982 shares of Brady stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $51.92, for a total value of $570,185.44. Following the completion of the transaction, the vice president now directly owns 33,760 shares in the company, valued at $1,752,819.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,427 shares of company stock worth $1,879,686. 15.60% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its stake in shares of Brady by 107.7% in the 1st quarter. Quadrant Capital Group LLC now owns 920 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 477 shares in the last quarter. KBC Group NV acquired a new position in shares of Brady in the 2nd quarter valued at about $59,000. Krane Funds Advisors LLC acquired a new position in shares of Brady in the 2nd quarter valued at about $60,000. Advisors Preferred LLC acquired a new position in shares of Brady in the 2nd quarter valued at about $112,000. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Brady in the 2nd quarter valued at about $126,000. 80.54% 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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