Global Brass and Copper Holdings, Inc. (BRSS) Rating Lowered to Hold at Zacks Investment Research

Global Brass and Copper Holdings, Inc. (NYSE:BRSS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, May 11th.

According to Zacks, “Global Brass & Copper Holdings, Inc. is a converter, fabricator, distributor and processor of copper and brass products primarily in North America. The Company’s product include sheet, strip, foil, rod, tube and fabricated metal component that it sells under the Olin Brass, Chase Brass and A.J. Oster brand names. It also engages in metal melting and casting, rolling, drawing, extruding and stamping to fabricate finished and semi-finished alloy products. The company serves building and housing, munitions, automotive, transportation, coinage, electronics/electrical components, industrial machinery and equipment and general consumer end markets. Global Brass & Copper Holdings, Inc. is headquartered in Schaumburg, United States. “

Separately, William Blair downgraded Global Brass and Copper Holdings from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 9th.

Global Brass and Copper Holdings (NYSE BRSS) opened at 30.85 on Thursday. The company has a 50 day moving average price of $31.72 and a 200-day moving average price of $33.05. Global Brass and Copper Holdings has a 52 week low of $22.75 and a 52 week high of $39.85. The firm has a market capitalization of $675.12 million, a price-to-earnings ratio of 18.16 and a beta of 0.44.

Global Brass and Copper Holdings (NYSE:BRSS) last released its quarterly earnings results on Friday, May 5th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.09. The business had revenue of $393.30 million during the quarter, compared to the consensus estimate of $344.10 million. Global Brass and Copper Holdings had a return on equity of 50.58% and a net margin of 2.64%. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 EPS. Equities analysts predict that Global Brass and Copper Holdings will post $2.73 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 25th. Stockholders of record on Monday, May 15th were given a dividend of $0.0375 per share. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.49%. Global Brass and Copper Holdings’s payout ratio is 8.88%.

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Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP increased its stake in Global Brass and Copper Holdings by 34.0% in the fourth quarter. Marshall Wace LLP now owns 144,047 shares of the industrial products company’s stock worth $4,941,000 after buying an additional 36,581 shares during the last quarter. Martingale Asset Management L P increased its stake in Global Brass and Copper Holdings by 2.2% in the fourth quarter. Martingale Asset Management L P now owns 133,143 shares of the industrial products company’s stock worth $4,567,000 after buying an additional 2,842 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Global Brass and Copper Holdings by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 737,329 shares of the industrial products company’s stock worth $25,291,000 after buying an additional 40,388 shares during the last quarter. State Street Corp increased its stake in Global Brass and Copper Holdings by 3.8% in the fourth quarter. State Street Corp now owns 450,736 shares of the industrial products company’s stock worth $15,456,000 after buying an additional 16,380 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new stake in Global Brass and Copper Holdings during the fourth quarter worth $262,000. Hedge funds and other institutional investors own 95.88% of the company’s stock.

Global Brass and Copper Holdings Company Profile

Global Brass and Copper Holdings, Inc is a converter, fabricator, processor and distributor of specialized non-ferrous products, including a range of sheet, strip, foil, rod, tube and fabricated metal component products. The Company operates through three segments: Olin Brass, Chase Brass and A.J. Oster.

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