Global Brass and Copper Holdings, Inc. (BRSS) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Global Brass and Copper Holdings, Inc. (NYSE:BRSS) from a hold rating to a buy rating in a research note released on Tuesday morning. The brokerage currently has $38.00 target price on the industrial products company’s stock.
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. “
Several other analysts have also weighed in on the stock. ValuEngine lowered shares of Global Brass and Copper Holdings from a buy rating to a hold rating in a report on Saturday, November 4th. BidaskClub raised shares of Global Brass and Copper Holdings from a sell rating to a hold rating in a report on Friday, October 13th.
Global Brass and Copper Holdings (NYSE BRSS) opened at $34.30 on Tuesday. Global Brass and Copper Holdings has a 52-week low of $26.40 and a 52-week high of $39.85. The company has a debt-to-equity ratio of 2.19, a current ratio of 3.26 and a quick ratio of 2.00. The stock has a market cap of $754.59, a PE ratio of 13.40 and a beta of 0.49.
Global Brass and Copper Holdings (NYSE:BRSS) last posted its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Global Brass and Copper Holdings had a net margin of 3.61% and a return on equity of 47.75%. The firm had revenue of $378.60 million during the quarter, compared to analyst estimates of $376.00 million. During the same quarter in the prior year, the business posted $0.81 earnings per share. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. analysts expect that Global Brass and Copper Holdings will post 2.47 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, November 13th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, November 10th. Global Brass and Copper Holdings’s payout ratio is 9.96%.
In other 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 completion of 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 document filed with the SEC, which is accessible through this link. Company insiders own 3.20% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Global Brass and Copper Holdings during the first quarter valued at approximately $108,000. BNP Paribas Arbitrage SA grew its stake in shares of Global Brass and Copper Holdings by 388.9% during the second quarter. BNP Paribas Arbitrage SA now owns 4,493 shares of the industrial products company’s stock valued at $137,000 after purchasing an additional 3,574 shares during the last quarter. KCG Holdings Inc. bought a new stake in shares of Global Brass and Copper Holdings during the first quarter valued at approximately $230,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Global Brass and Copper Holdings during the second quarter valued at approximately $205,000. Finally, Eqis Capital Management Inc. bought a new stake in shares of Global Brass and Copper Holdings during the third quarter valued at approximately $231,000. 95.03% of the stock is currently owned by institutional investors and hedge funds.
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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