Fmr LLC Has $203.75 Million Holdings in Brady Co. (NYSE:BRC)

Fmr LLC raised its stake in Brady Co. (NYSE:BRC) by 39.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,658,925 shares of the industrial products company’s stock after buying an additional 753,092 shares during the quarter. Fmr LLC owned 0.06% of Brady worth $203,753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in shares of Brady by 65.3% in the 2nd quarter. Blue Trust Inc. now owns 663 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 262 shares during the last quarter. GAMMA Investing LLC increased its stake in Brady by 337.1% in the second quarter. GAMMA Investing LLC now owns 918 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 708 shares in the last quarter. Quarry LP raised its holdings in Brady by 36.1% in the second quarter. Quarry LP now owns 962 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 255 shares during the period. Quest Partners LLC bought a new position in shares of Brady during the second quarter worth $119,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Brady by 10,983.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,995 shares of the industrial products company’s stock valued at $153,000 after buying an additional 1,977 shares during the period. Institutional investors own 76.28% of the company’s stock.

Insider Activity

In other news, General Counsel Andrew Gorman sold 8,736 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $74.10, for a total value of $647,337.60. Following the sale, the general counsel now owns 10,140 shares of the company’s stock, valued at $751,374. The trade was a 46.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Russell Shaller sold 21,128 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $75.30, for a total transaction of $1,590,938.40. Following the completion of the transaction, the chief executive officer now directly owns 102,150 shares of the company’s stock, valued at approximately $7,691,895. This trade represents a 17.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,262 shares of company stock worth $3,371,231 over the last three months. Corporate insiders own 15.60% of the company’s stock.

Analyst Ratings Changes

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

Brady Price Performance

Shares of BRC opened at $75.38 on Tuesday. The stock has a 50 day simple moving average of $74.23 and a 200 day simple moving average of $70.85. Brady Co. has a 52-week low of $55.97 and a 52-week high of $77.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.25 and a current ratio of 1.84. The firm has a market capitalization of $3.60 billion, a PE ratio of 18.33 and a beta of 0.76.

Brady (NYSE:BRC) last released its quarterly earnings results on Monday, November 18th. The industrial products company reported $1.12 earnings per share for the quarter, beating the consensus estimate 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 net margin of 14.19% and a return on equity of 19.79%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 earnings per share. Sell-side analysts predict that Brady Co. will post 4.55 EPS for the current fiscal year.

Brady Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were paid a $0.24 dividend. This is an increase from Brady’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.96 annualized dividend and a dividend yield of 1.27%. 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.