Global Brass and Copper Holdings Inc (BRSS) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS
Global Brass and Copper Holdings Inc (NYSE:BRSS) issued its quarterly earnings results on Friday. The industrial products company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.09. Global Brass and Copper Holdings had a return on equity of 54.81% and a net margin of 2.09%. The firm had revenue of $393.30 million during the quarter, compared to the consensus estimate of $344.10 million. During the same period last year, the company earned $0.65 earnings per share. The company’s revenue was up 19.6% on a year-over-year basis.
Global Brass and Copper Holdings (NYSE:BRSS) traded up 0.33% on Friday, hitting $30.10. The stock had a trading volume of 50,882 shares. The company has a 50 day moving average price of $33.31 and a 200-day moving average price of $32.67. The company has a market cap of $658.71 million, a price-to-earnings ratio of 17.72 and a beta of 0.47. Global Brass and Copper Holdings has a 52-week low of $22.75 and a 52-week high of $39.85.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 25th. Stockholders of record on Monday, May 15th will be paid a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Thursday, May 11th. Global Brass and Copper Holdings’s dividend payout ratio (DPR) is currently 11.54%.
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In other Global Brass and Copper Holdings news, insider Devin K. Denner sold 11,677 shares of Global Brass and Copper Holdings stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $36.76, for a total value of $429,246.52. Following the sale, the insider now owns 14,368 shares of the company’s stock, valued at approximately $528,167.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William G. Toler sold 10,000 shares of Global Brass and Copper Holdings stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $36.54, for a total value of $365,400.00. Following the completion of the sale, the insider now directly owns 35,423 shares in the company, valued at approximately $1,294,356.42. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.
An institutional investor recently raised its position in Global Brass and Copper Holdings stock. Teachers Advisors LLC boosted its stake in Global Brass and Copper Holdings Inc (NYSE:BRSS) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,404 shares of the industrial products company’s stock after buying an additional 904 shares during the period. Teachers Advisors LLC owned about 0.48% of Global Brass and Copper Holdings worth $3,591,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 98.40% of the company’s stock.
Several equities research analysts recently commented on the company. William Blair cut Global Brass and Copper Holdings from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 9th. Zacks Investment Research cut Global Brass and Copper Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, May 11th.
Global Brass and Copper Holdings Company Profile
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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