Denver Investment Advisors LLC decreased its stake in Global Brass and Copper Holdings, Inc. (NYSE:BRSS) by 11.3% during the second quarter, Holdings Channel reports. The institutional investor owned 456,730 shares of the industrial products company’s stock after selling 58,185 shares during the period. Denver Investment Advisors LLC’s holdings in Global Brass and Copper Holdings were worth $13,953,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in BRSS. SG Americas Securities LLC bought a new stake in Global Brass and Copper Holdings during the first quarter valued at $108,000. Campbell & CO Investment Adviser LLC bought a new stake in Global Brass and Copper Holdings during the second quarter valued at $205,000. 1st Global Advisors Inc. increased its stake in Global Brass and Copper Holdings by 10.2% in the first quarter. 1st Global Advisors Inc. now owns 6,641 shares of the industrial products company’s stock valued at $228,000 after buying an additional 616 shares in the last quarter. Oxford Asset Management bought a new stake in Global Brass and Copper Holdings during the first quarter valued at $229,000. Finally, KCG Holdings Inc. bought a new stake in Global Brass and Copper Holdings during the first quarter valued at $230,000. 93.56% of the stock is currently owned by institutional investors.

Shares of Global Brass and Copper Holdings, Inc. (NYSE:BRSS) opened at 28.20 on Wednesday. Global Brass and Copper Holdings, Inc. has a 52-week low of $22.75 and a 52-week high of $39.85. The firm’s 50-day moving average is $30.94 and its 200 day moving average is $32.66. The stock has a market cap of $617.69 million, a P/E ratio of 13.82 and a beta of 0.44.

Global Brass and Copper Holdings (NYSE:BRSS) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. Global Brass and Copper Holdings had a net margin of 3.10% and a return on equity of 55.01%. The company had revenue of $377.40 million for the quarter, compared to analysts’ expectations of $398.45 million. During the same quarter last year, the company earned $0.43 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts forecast that Global Brass and Copper Holdings, Inc. will post $2.66 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Monday, August 14th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, August 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.85%. This is a boost from Global Brass and Copper Holdings’s previous quarterly dividend of $0.04. Global Brass and Copper Holdings’s dividend payout ratio (DPR) is presently 11.82%.

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Separately, Zacks Investment Research downgraded shares of Global Brass and Copper Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, May 11th.

In other Global Brass and Copper Holdings news, Director Martin E. Welch sold 3,708 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $29.08, for a total transaction of $107,828.64. Following the sale, the director now owns 21,686 shares of the company’s stock, valued at $630,628.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.20% of the stock is currently owned by company insiders.

About Global Brass and Copper Holdings

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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Institutional Ownership by Quarter for Global Brass and Copper Holdings (NYSE:BRSS)

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