Municipal Employees Retirement System of Michigan decreased its stake in shares of Global Brass and Copper Holdings, Inc. (NYSE:BRSS) by 20.4% during the second quarter, Holdings Channel reports. The fund owned 29,190 shares of the industrial products company’s stock after selling 7,500 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Global Brass and Copper Holdings were worth $892,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BRSS. Prudential Financial Inc. raised its position in shares of Global Brass and Copper Holdings by 3.9% in the first quarter. Prudential Financial Inc. now owns 567,116 shares of the industrial products company’s stock valued at $19,509,000 after buying an additional 21,270 shares during the last quarter. Hancock Holding Co. raised its position in shares of Global Brass and Copper Holdings by 12.4% in the first quarter. Hancock Holding Co. now owns 41,570 shares of the industrial products company’s stock valued at $1,430,000 after buying an additional 4,583 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in shares of Global Brass and Copper Holdings during the fourth quarter valued at about $262,000. Teachers Advisors LLC raised its position in shares of Global Brass and Copper Holdings by 78.1% in the fourth quarter. Teachers Advisors LLC now owns 103,500 shares of the industrial products company’s stock valued at $3,550,000 after buying an additional 45,392 shares during the last quarter. Finally, ClariVest Asset Management LLC raised its position in shares of Global Brass and Copper Holdings by 12.3% in the first quarter. ClariVest Asset Management LLC now owns 327,695 shares of the industrial products company’s stock valued at $11,272,000 after buying an additional 35,800 shares during the last quarter. Institutional investors own 93.17% of the company’s stock.

Global Brass and Copper Holdings, Inc. (NYSE:BRSS) opened at 28.70 on Friday. The firm has a 50-day moving average price of $31.05 and a 200 day moving average price of $32.73. The company has a market cap of $628.64 million, a price-to-earnings ratio of 14.06 and a beta of 0.44. Global Brass and Copper Holdings, Inc. has a one year low of $22.75 and a one year high of $39.85.

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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Monday, August 14th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.84%. This is a boost from Global Brass and Copper Holdings’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Thursday, August 10th. Global Brass and Copper Holdings’s payout ratio is presently 11.82%.

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

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

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