Global Brass and Copper (BRSS) Stock Rating Lowered by Zacks Investment Research

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Zacks Investment Research lowered shares of Global Brass and Copper (NYSE:BRSS) from a strong-buy rating to a hold rating in a research report report published on Monday morning, Zacks.com reports.

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, ValuEngine upgraded shares of Global Brass and Copper from a sell rating to a hold rating in a report on Monday, February 4th.

Shares of Global Brass and Copper stock opened at $43.45 on Monday. Global Brass and Copper has a 12-month low of $24.06 and a 12-month high of $44.08. The company has a quick ratio of 1.97, a current ratio of 3.27 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $958.23 million, a PE ratio of 13.93 and a beta of 1.21.

Global Brass and Copper (NYSE:BRSS) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.14). Global Brass and Copper had a net margin of 3.50% and a return on equity of 36.13%. As a group, research analysts expect that Global Brass and Copper will post 3 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, May 13th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Friday, May 10th. Global Brass and Copper’s dividend payout ratio is currently 11.54%.

A number of large investors have recently modified their holdings of BRSS. Martingale Asset Management L P boosted its stake in Global Brass and Copper by 4.8% during the 3rd quarter. Martingale Asset Management L P now owns 102,428 shares of the industrial products company’s stock worth $3,780,000 after purchasing an additional 4,717 shares during the period. BlackRock Inc. boosted its stake in Global Brass and Copper by 10.3% during the 3rd quarter. BlackRock Inc. now owns 1,861,092 shares of the industrial products company’s stock worth $68,674,000 after purchasing an additional 173,456 shares during the period. JPMorgan Chase & Co. boosted its stake in Global Brass and Copper by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 732,011 shares of the industrial products company’s stock worth $27,011,000 after purchasing an additional 12,196 shares during the period. MetLife Investment Advisors LLC boosted its stake in Global Brass and Copper by 53.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 17,079 shares of the industrial products company’s stock worth $630,000 after purchasing an additional 5,980 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in Global Brass and Copper by 8.4% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 346,790 shares of the industrial products company’s stock worth $12,797,000 after purchasing an additional 26,767 shares during the period. Hedge funds and other institutional investors own 94.14% of the company’s stock.

Global Brass and Copper Company Profile

Global Brass and Copper Holdings, Inc converts, fabricates, processes, and distributes specialized non-ferrous products in the United States, the Asia Pacific, and Mexico. It operates in three segments: Olin Brass, Chase Brass, and A.J. Oster. The Olin Brass segment manufactures, fabricates, and converts specialized copper and brass sheets, strips, foils, tubes, and fabricated products; and rerolls and forms other alloys, such as stainless steel, carbon steel, and aluminum.

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