Brady Corporation (NYSE:BRC) Announces Dividend Increase – $0.83 Per Share
Brady Corporation (NYSE:BRC) declared a quarterly dividend on Wednesday, September 6th, RTT News reports. Shareholders of record on Tuesday, October 10th will be paid a dividend of 0.83 per share by the industrial products company on Tuesday, October 31st. This represents a $3.32 dividend on an annualized basis and a yield of 8.60%. The ex-dividend date of this dividend is Friday, October 6th. This is a boost from Brady Corporation’s previous quarterly dividend of $0.21.
Brady Corporation has decreased its dividend payment by an average of 7.3% per year over the last three years and has raised its dividend every year for the last 31 years. Brady Corporation has a dividend payout ratio of 43.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Brady Corporation to earn $2.05 per share next year, which means the company should continue to be able to cover its $0.83 annual dividend with an expected future payout ratio of 40.5%.
Shares of Brady Corporation (NYSE BRC) traded up 0.13% during trading on Friday, hitting $38.60. 123,644 shares of the stock were exchanged. The firm’s 50 day moving average price is $36.45 and its 200-day moving average price is $35.94. Brady Corporation has a 52 week low of $31.70 and a 52 week high of $40.50. The stock has a market cap of $1.98 billion, a P/E ratio of 21.15 and a beta of 1.13.
Brady Corporation (NYSE:BRC) last posted its earnings results on Thursday, September 7th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Brady Corporation had a net margin of 8.59% and a return on equity of 13.93%. The business had revenue of $289.20 million for the quarter, compared to analysts’ expectations of $280.47 million. During the same quarter in the prior year, the business earned $0.49 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, analysts predict that Brady Corporation will post $1.93 EPS for the current year.
In related news, Director Elizabeth P. Bruno sold 24,000 shares of the stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $36.75, for a total value of $882,000.00. Following the completion of the sale, the director now directly owns 371,509 shares of the company’s stock, valued at approximately $13,652,955.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 15.60% of the company’s stock.
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Several equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Brady Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Robert W. Baird set a $36.00 price target on shares of Brady Corporation and gave the company a “hold” rating in a research report on Thursday, August 24th. BidaskClub lowered shares of Brady Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Finally, Bank of America Corporation upped their price target on shares of Brady Corporation from $33.00 to $34.00 and gave the company an “underperform” rating in a research report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $38.33.
About Brady Corporation
Brady Corporation is a manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people. The Company has two segments: Identification Solutions (IDS) and Workplace Safety (WPS). The IDS segment includes identification and healthcare products, and the WPS segment includes workplace safety and compliance products.
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