Wellington Management Group LLP Has $49.64 Million Stock Position in Brady Co. (NYSE:BRC)

Wellington Management Group LLP reduced its stake in Brady Co. (NYSE:BRC - Free Report) by 27.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 647,824 shares of the industrial products company's stock after selling 242,183 shares during the period. Wellington Management Group LLP owned 1.36% of Brady worth $49,643,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BRC. FMR LLC lifted its holdings in Brady by 39.5% during the third quarter. FMR LLC now owns 2,658,925 shares of the industrial products company's stock worth $203,753,000 after acquiring an additional 753,092 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Brady by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,510,180 shares of the industrial products company's stock worth $99,701,000 after acquiring an additional 24,786 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Brady by 23.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 560,274 shares of the industrial products company's stock worth $36,631,000 after acquiring an additional 106,652 shares in the last quarter. Royce & Associates LP lifted its holdings in Brady by 27.1% during the third quarter. Royce & Associates LP now owns 555,792 shares of the industrial products company's stock worth $42,590,000 after acquiring an additional 118,557 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Brady by 20.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 479,057 shares of the industrial products company's stock worth $36,710,000 after acquiring an additional 82,438 shares in the last quarter. 76.28% of the stock is currently owned by institutional investors.

Insider Activity at Brady

In related news, General Counsel Andrew Gorman sold 8,736 shares of the business's stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $74.10, for a total value of $647,337.60. Following the completion of the sale, the general counsel now directly owns 10,140 shares in the company, valued at approximately $751,374. The trade was a 46.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Russell Shaller sold 12,547 shares of the business's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $73.08, for a total transaction of $916,934.76. Following the transaction, the chief executive officer now owns 102,905 shares of the company's stock, valued at approximately $7,520,297.40. This represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,262 shares of company stock worth $3,371,231. Company insiders own 15.60% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Brady from a "strong-buy" rating to a "buy" rating in a research report on Friday, October 11th.

Brady Stock Up 0.4 %

Shares of NYSE:BRC traded up $0.31 during midday trading on Thursday, reaching $76.12. The company had a trading volume of 56,163 shares, compared to its average volume of 274,273. The business's 50 day moving average price is $74.20 and its 200 day moving average price is $71.46. The stock has a market cap of $3.64 billion, a PE ratio of 18.63 and a beta of 0.77. The company has a quick ratio of 1.25, a current ratio of 1.84 and a debt-to-equity ratio of 0.11. Brady Co. has a 1-year low of $56.09 and a 1-year high of $77.68.

Brady (NYSE:BRC - Get Free Report) last issued its quarterly earnings data on Monday, November 18th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.02. The company had revenue of $377.10 million during the quarter, compared to analysts' expectations of $365.88 million. Brady had a return on equity of 19.79% and a net margin of 14.19%. The business's revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.00 earnings per share. Research analysts forecast that Brady Co. will post 4.55 EPS for the current fiscal year.

Brady Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, January 10th. Brady's dividend payout ratio (DPR) is currently 23.59%.

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.