Global Brass and Copper Holdings, Inc. Declares Quarterly Dividend of $0.06 (BRSS)
Global Brass and Copper Holdings, Inc. (NYSE:BRSS) announced a quarterly dividend on Tuesday, October 31st, NASDAQ reports. Stockholders of record on Monday, November 13th will be paid a dividend of 0.06 per share by the industrial products company on Wednesday, November 22nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Friday, November 10th.
Global Brass and Copper Holdings has increased its dividend by an average of 58.7% annually over the last three years. Global Brass and Copper Holdings has a payout ratio of 9.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Global Brass and Copper Holdings to earn $2.73 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 8.8%.
Shares of Global Brass and Copper Holdings (NYSE:BRSS) opened at $32.65 on Friday. The company has a market capitalization of $715.17, a P/E ratio of 12.70 and a beta of 0.49. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.75 and a current ratio of 2.76.
Global Brass and Copper Holdings (NYSE:BRSS) last issued its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. The business had revenue of $378.60 million for the quarter, compared to analysts’ expectations of $376.00 million. Global Brass and Copper Holdings had a net margin of 3.10% and a return on equity of 55.01%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $0.81 EPS. research analysts predict that Global Brass and Copper Holdings will post 2.53 earnings per share for the current year.
A number of equities research analysts have recently commented on BRSS shares. Zacks Investment Research cut shares of Global Brass and Copper Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. BidaskClub raised shares of Global Brass and Copper Holdings from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 28th. Finally, ValuEngine cut shares of Global Brass and Copper Holdings from a “buy” rating to a “hold” rating in a research note on Saturday.
In other news, Director Martin E. Welch sold 3,708 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $29.08, for a total transaction of $107,828.64. Following the transaction, the director now owns 21,686 shares in the company, valued at approximately $630,628.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.20% of the company’s stock.
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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