Brady Co. (NYSE:BRC) Short Interest Update
Brady Co. (NYSE:BRC – Get Free Report) was the recipient of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 1,140,000 shares, a growth of 9.6% from the November 15th total of 1,040,000 shares. Based on an average trading volume of 347,600 shares, the days-to-cover ratio is presently 3.3 days. Approximately 2.6% of the shares of the stock are sold short.
Brady Trading Down 0.0 %
Shares of BRC stock traded down $0.02 during trading hours on Friday, hitting $58.44. 2,239,179 shares of the company were exchanged, compared to its average volume of 384,830. The firm has a market cap of $2.82 billion, a P/E ratio of 15.84, a P/E/G ratio of 2.05 and a beta of 0.74. Brady has a fifty-two week low of $44.71 and a fifty-two week high of $59.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.46 and a current ratio of 2.13. The company has a 50 day simple moving average of $54.43 and a two-hundred day simple moving average of $52.13.
Brady (NYSE:BRC – Get Free Report) last announced its quarterly earnings data on Thursday, November 16th. The industrial products company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.95 by $0.05. Brady had a net margin of 13.62% and a return on equity of 19.08%. The company had revenue of $331.90 million during the quarter, compared to the consensus estimate of $342.01 million. During the same quarter last year, the firm posted $0.84 EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis. Equities analysts anticipate that Brady will post 4 EPS for the current year.
Brady Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 10th will be issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Tuesday, January 9th. Brady’s dividend payout ratio is currently 25.47%.
Insider Activity at Brady
In related news, insider Brett Wilms sold 550 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $54.06, for a total value of $29,733.00. Following the completion of the transaction, the insider now owns 2,489 shares in the company, valued at approximately $134,555.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Brady news, VP Bentley Curran sold 6,209 shares of the stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $55.96, for a total transaction of $347,455.64. Following the completion of the sale, the vice president now owns 15,462 shares of the company’s stock, valued at approximately $865,253.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brett Wilms sold 550 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $54.06, for a total transaction of $29,733.00. Following the sale, the insider now directly owns 2,489 shares of the company’s stock, valued at approximately $134,555.34. The disclosure for this sale can be found here. 15.60% of the stock is owned by company insiders.
Hedge Funds Weigh In On Brady
A number of large investors have recently modified their holdings of the company. State Street Corp boosted its holdings in Brady by 34.0% during the 2nd quarter. State Street Corp now owns 4,963,837 shares of the industrial products company’s stock worth $234,492,000 after acquiring an additional 1,259,342 shares during the last quarter. Marshall Wace LLP purchased a new position in Brady during the 2nd quarter worth $11,731,000. Norges Bank purchased a new position in Brady during the 4th quarter worth $11,330,000. Intrinsic Edge Capital Management LLC purchased a new position in Brady during the 2nd quarter worth $10,804,000. Finally, Lord Abbett & CO. LLC boosted its holdings in Brady by 65.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 510,635 shares of the industrial products company’s stock worth $28,044,000 after acquiring an additional 202,099 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. Bank of America increased their target price on shares of Brady from $47.00 to $51.00 in a research report on Wednesday, October 4th. StockNews.com downgraded shares of Brady from a “strong-buy” rating to a “buy” rating in a research report on Thursday.
Read Our Latest Analysis on BRC
About Brady (Get Free Report)
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.
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Original: MarketBeat News Feed: Brady Co. (NYSE:BRC) Short Interest Update