Brady Co. (NYSE:BRC) Declares Dividend Increase – $0.24 Per Share

Brady Co. (NYSE:BRC) declared a quarterly dividend on Thursday, September 5th, Zacks reports. Stockholders of record on Thursday, October 10th will be given a dividend of 0.24 per share by the industrial products company on Thursday, October 31st. This represents a $0.96 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, October 10th. This is a boost from Brady’s previous quarterly dividend of $0.24.

Brady has raised its dividend payment by an average of 2.0% per year over the last three years and has increased its dividend every year for the last 38 years. Brady has a dividend payout ratio of 21.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Brady to earn $4.35 per share next year, which means the company should continue to be able to cover its $0.94 annual dividend with an expected future payout ratio of 21.6%.

Brady Stock Performance

Shares of NYSE BRC opened at $72.19 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.06 and a quick ratio of 1.45. Brady has a one year low of $51.35 and a one year high of $76.82. The business’s 50-day moving average price is $70.06 and its two-hundred day moving average price is $64.41. The company has a market capitalization of $3.43 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 2.20 and a beta of 0.76.

Brady (NYSE:BRC) last released its quarterly earnings results on Friday, September 6th. The industrial products company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. Brady had a net margin of 14.22% and a return on equity of 19.61%. The business had revenue of $343.40 million for the quarter, compared to the consensus estimate of $351.74 million. During the same quarter last year, the firm earned $1.04 EPS. Brady’s revenue for the quarter was down .7% on a year-over-year basis. Analysts anticipate that Brady will post 4.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Brady from a “strong-buy” rating to a “buy” rating in a research report on Saturday.

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.