Wellington Management Group LLP Decreases Stock Position in Brady Corporation $BRC

Key Points

• Wellington Management Group LLP has reduced its stake in Brady Corporation by 3.6%, bringing its ownership to 650,073 shares valued at approximately $45.9 million.
• In contrast, Neuberger Berman Group LLC significantly increased its position by 196.6% during the same quarter, now holding about $114 million in shares.
• Brokerages have responded positively to Brady's performance, with multiple firms upgrading the stock rating to a "strong-buy" and an average rating of "Strong Buy" according to MarketBeat.

Wellington Management Group LLP lowered its position in shares of Brady Corporation (NYSE:BRC - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 650,073 shares of the industrial products company's stock after selling 24,520 shares during the period. Wellington Management Group LLP owned about 1.36% of Brady worth $45,921,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC grew its stake in shares of Brady by 196.6% during the first quarter. Neuberger Berman Group LLC now owns 1,614,375 shares of the industrial products company's stock valued at $114,039,000 after buying an additional 1,070,000 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Brady by 7,044.2% during the first quarter. GAMMA Investing LLC now owns 138,454 shares of the industrial products company's stock worth $9,780,000 after purchasing an additional 136,516 shares during the period. Allianz Asset Management GmbH increased its position in shares of Brady by 29.7% during the first quarter. Allianz Asset Management GmbH now owns 516,499 shares of the industrial products company's stock valued at $36,485,000 after buying an additional 118,133 shares during the period. Clark Capital Management Group Inc. purchased a new position in shares of Brady during the fourth quarter valued at about $7,713,000. Finally, Balyasny Asset Management L.P. increased its position in shares of Brady by 183.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 96,171 shares of the industrial products company's stock valued at $7,102,000 after buying an additional 62,191 shares during the period. Institutional investors own 76.28% of the company's stock.

Brady Trading Down 0.1%

BRC stock traded down $0.04 during trading on Thursday, hitting $77.41. The company had a trading volume of 53,523 shares, compared to its average volume of 221,687. Brady Corporation has a 52-week low of $62.70 and a 52-week high of $77.72. The company has a 50 day simple moving average of $70.46 and a 200-day simple moving average of $70.46. The firm has a market capitalization of $3.66 billion, a P/E ratio of 19.16 and a beta of 0.81. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.09.

Analyst Ratings Changes

A number of brokerages recently issued reports on BRC. Sidoti raised shares of Brady to a "strong-buy" rating in a research report on Monday, May 19th. Wall Street Zen raised Brady from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Strong Buy".

About Brady

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.