Brady (NYSE:BRC) Upgraded to “Strong-Buy” at Sidoti

Sidoti upgraded shares of Brady (NYSE:BRC) to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Brady Price Performance

Shares of BRC opened at $71.58 on Monday. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 17.59 and a beta of 0.86. Brady has a twelve month low of $59.84 and a twelve month high of $77.68. The company has a quick ratio of 1.25, a current ratio of 1.84 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $70.12 and a two-hundred day moving average of $72.49.

Brady (NYSE:BRC) last posted its quarterly earnings results on Friday, May 16th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.22. The business had revenue of $382.59 million during the quarter, compared to analysts’ expectations of $386.61 million. Brady had a net margin of 14.19% and a return on equity of 19.79%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company posted $1.09 earnings per share. As a group, analysts predict that Brady will post 4.55 earnings per share for the current fiscal year.

Brady Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, July 10th. This represents a $0.96 annualized dividend and a dividend yield of 1.34%. Brady’s dividend payout ratio (DPR) is presently 23.76%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Brady by 7.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 126,953 shares of the industrial products company’s stock worth $8,968,000 after purchasing an additional 8,716 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Brady in the first quarter valued at $381,000. NewEdge Advisors LLC increased its holdings in Brady by 282.3% in the first quarter. NewEdge Advisors LLC now owns 1,644 shares of the industrial products company’s stock valued at $116,000 after buying an additional 1,214 shares in the last quarter. Millennium Management LLC increased its holdings in Brady by 1,256.9% in the first quarter. Millennium Management LLC now owns 185,182 shares of the industrial products company’s stock valued at $13,081,000 after buying an additional 171,535 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Brady in the first quarter valued at $6,775,000. Hedge funds and other institutional investors own 76.28% of the company’s stock.

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 company offers materials, printing systems, RFID, and bar code scanners for product identification, brand protection labeling, work in process labeling, finished product identification, and industrial track and trace applications; safety signs, floor-marking tapes, pipe markers, labeling systems, spill control products, lockout/tagout device, and software and services for safety compliance auditing, procedure writing, and training; and hand-held printers, wire markers, sleeves, and tags for wire identification.