Global Brass and Copper (BRSS) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Global Brass and Copper (NYSE:BRSS) from a buy rating to a hold 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. “

A number of other equities research analysts have also recently weighed in on BRSS. ValuEngine cut shares of Global Brass and Copper from a buy rating to a hold rating in a report on Saturday, November 4th. BidaskClub upgraded shares of Global Brass and Copper from a sell rating to a hold rating in a report on Friday, October 13th.

Shares of Global Brass and Copper (BRSS) traded down $0.05 during midday trading on Wednesday, hitting $33.20. 57,248 shares of the company traded hands, compared to its average volume of 64,133. Global Brass and Copper has a one year low of $28.10 and a one year 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 capitalization of $740.35, a PE ratio of 13.78 and a beta of 0.47.

Global Brass and Copper (NYSE:BRSS) last announced its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. Global Brass and Copper had a net margin of 3.61% and a return on equity of 47.75%. The company had revenue of $378.60 million for the quarter, compared to analysts’ expectations of $376.00 million. During the same quarter in the previous year, the company earned $0.81 earnings per share. Global Brass and Copper’s quarterly revenue was up 8.5% on a year-over-year basis. equities analysts anticipate that Global Brass and Copper will post 2.47 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tudor Investment Corp ET AL grew its holdings in Global Brass and Copper by 2.5% in the second quarter. Tudor Investment Corp ET AL now owns 12,742 shares of the industrial products company’s stock worth $389,000 after purchasing an additional 316 shares during the period. Cornerstone Capital Management Holdings LLC. grew its holdings in Global Brass and Copper by 0.3% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 161,974 shares of the industrial products company’s stock worth $4,947,000 after purchasing an additional 500 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Global Brass and Copper by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 16,894 shares of the industrial products company’s stock worth $516,000 after purchasing an additional 645 shares during the period. Summit Global Investments grew its holdings in Global Brass and Copper by 4.6% in the second quarter. Summit Global Investments now owns 15,800 shares of the industrial products company’s stock worth $483,000 after purchasing an additional 700 shares during the period. Finally, Rhumbline Advisers grew its holdings in Global Brass and Copper by 3.3% in the second quarter. Rhumbline Advisers now owns 23,813 shares of the industrial products company’s stock worth $727,000 after purchasing an additional 765 shares during the period. Institutional investors and hedge funds own 94.92% of the company’s stock.

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About Global Brass and Copper

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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