Global Brass and Copper (BRSS) Downgraded by Zacks Investment Research to “Sell”

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Zacks Investment Research downgraded shares of Global Brass and Copper (NYSE:BRSS) from a hold rating to a sell rating in a research note published on Wednesday morning.

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 downgraded Global Brass and Copper from a hold rating to a sell rating in a report on Thursday, October 18th.

Global Brass and Copper stock traded down $0.29 during midday trading on Wednesday, hitting $31.88. 4,249 shares of the company were exchanged, compared to its average volume of 115,121. The firm has a market capitalization of $702.83 million, a PE ratio of 11.52 and a beta of 0.46. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.69 and a current ratio of 3.38. Global Brass and Copper has a fifty-two week low of $27.50 and a fifty-two week high of $39.05.

Global Brass and Copper (NYSE:BRSS) last released its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. The firm had revenue of $429.90 million for the quarter, compared to analyst estimates of $409.00 million. Global Brass and Copper had a return on equity of 41.31% and a net margin of 3.22%. On average, analysts forecast that Global Brass and Copper will post 2.99 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Monday, November 12th will be issued a dividend of $0.09 per share. The ex-dividend date is Thursday, November 8th. This is an increase from Global Brass and Copper’s previous quarterly dividend of $0.04. This represents a $0.36 annualized dividend and a yield of 1.13%. Global Brass and Copper’s payout ratio is currently 12.95%.

In other Global Brass and Copper news, insider Kevin W. Bense sold 37,126 shares of Global Brass and Copper stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $37.72, for a total transaction of $1,400,392.72. Following the sale, the insider now directly owns 53,648 shares in the company, valued at approximately $2,023,602.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of Global Brass and Copper in the 3rd quarter valued at approximately $135,000. Principal Financial Group Inc. bought a new position in Global Brass and Copper during the 1st quarter worth $207,000. Meeder Asset Management Inc. grew its stake in Global Brass and Copper by 787.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 7,178 shares of the industrial products company’s stock worth $225,000 after buying an additional 6,369 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in Global Brass and Copper during the 3rd quarter worth $228,000. Finally, Eqis Capital Management Inc. bought a new position in Global Brass and Copper during the 2nd quarter worth $303,000. Institutional investors and hedge funds own 93.66% of the company’s stock.

About Global Brass and Copper

Global Brass and Copper Holdings, Inc converts, fabricates, processes, and distributes specialized non-ferrous products in the United States, the Asia Pacific, and Mexico. The company 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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