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Brady (NYSE:BRC - Get Rating) released its quarterly earnings results on Thursday. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02, Briefing.com reports. Brady had a return on equity of 16.38% and a net margin of 10.66%. The company had revenue of $324.00 million during the quarter, compared to analysts' expectations of $331.11 million. During the same quarter in the prior year, the business posted $0.70 earnings per share. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. Brady updated its FY23 guidance to $3.30-3.60 EPS and its FY 2023 guidance to $3.30-$3.60 EPS.Brady Trading Down 0.5 %
Brady stock opened at $46.30 on Friday. Brady has a 12-month low of $41.69 and a 12-month high of $56.39. The stock has a market capitalization of $2.33 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.98 and a beta of 0.74. The firm has a 50 day simple moving average of $47.43 and a 200-day simple moving average of $46.45. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.97 and a quick ratio of 1.24. Brady Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.99%. This is an increase from Brady's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, October 6th. Brady's payout ratio is 34.22%. Insider Buying and Selling at Brady
In related news, Director Frank W. Harris sold 1,000 shares of Brady stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $48.10, for a total value of $48,100.00. Following the transaction, the director now owns 20,441 shares of the company's stock, valued at approximately $983,212.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 15.60% of the stock is owned by corporate insiders. Institutional Trading of Brady
A number of hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC lifted its position in Brady by 14.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,232 shares of the industrial products company's stock worth $103,000 after buying an additional 281 shares in the last quarter. Point72 Hong Kong Ltd raised its holdings in shares of Brady by 740.0% during the first quarter. Point72 Hong Kong Ltd now owns 2,814 shares of the industrial products company's stock worth $130,000 after acquiring an additional 2,479 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of Brady by 55.8% during the first quarter. Captrust Financial Advisors now owns 3,372 shares of the industrial products company's stock worth $156,000 after acquiring an additional 1,208 shares in the last quarter. ExodusPoint Capital Management LP purchased a new position in Brady in the second quarter valued at about $302,000. Finally, Jane Street Group LLC acquired a new position in Brady in the 1st quarter worth about $341,000. 78.22% of the stock is owned by hedge funds and other institutional investors. About Brady (Get Rating)
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, floor-marking tapes, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials, printing systems, RFID and bar code scanners 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.Featured ArticlesGet a free copy of the StockNews.com research report on Brady (BRC)Lululemon Set To Soar Into SeptemberCould Nike Stock be Oversold, but Still Overvalued?Is Alcoa A Buy After Strong Q2 Results And More Share Buybacks?Will Royal Caribbean's Broadband Partnership Drive Revenue?Chip Gear Maker Entegris Has Potential, But Is It Buyable Now?
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