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.

Dividend History for Brady Corporation (NYSE:BRC)

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