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 report released on Tuesday morning. The brokerage currently has $40.00 price objective on the 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. “
Separately, William Blair downgraded shares of Global Brass and Copper Holdings from an outperform rating to a market perform rating in a report on Thursday, March 9th.
Shares of Global Brass and Copper Holdings (NYSE:BRSS) traded up 0.14% during midday trading on Tuesday, hitting $36.45. 21,503 shares of the company were exchanged. Global Brass and Copper Holdings has a one year low of $22.75 and a one year high of $39.85. The stock has a market cap of $789.91 million, a PE ratio of 24.46 and a beta of 0.47. The stock’s 50-day moving average is $34.20 and its 200-day moving average is $31.04.
Global Brass and Copper Holdings (NYSE:BRSS) last posted its quarterly earnings data on Monday, March 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.07. The business earned $322.60 million during the quarter, compared to the consensus estimate of $294.85 million. Global Brass and Copper Holdings had a net margin of 2.09% and a return on equity of 54.81%. Global Brass and Copper Holdings’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 EPS. Equities research analysts anticipate that Global Brass and Copper Holdings will post $2.67 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 3rd. Investors of record on Tuesday, February 21st were issued a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Thursday, February 16th. Global Brass and Copper Holdings’s dividend payout ratio is currently 11.54%.
Several hedge funds have recently bought and sold shares of BRSS. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Global Brass and Copper Holdings during the fourth quarter worth $101,000. Envestnet Asset Management Inc. increased its stake in shares of Global Brass and Copper Holdings by 9.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,079 shares of the company’s stock worth $105,000 after buying an additional 264 shares during the period. Origin Asset Management LLP bought a new stake in shares of Global Brass and Copper Holdings during the fourth quarter worth $226,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Global Brass and Copper Holdings during the third quarter worth $244,000. Finally, Globeflex Capital L P increased its stake in shares of Global Brass and Copper Holdings by 23,719.4% in the third quarter. Globeflex Capital L P now owns 8,575 shares of the company’s stock worth $248,000 after buying an additional 8,539 shares during the period. 98.40% of the stock is 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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