ClariVest Asset Management LLC lessened its holdings in Global Brass and Copper Holdings Inc (NYSE:BRSS) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 301,911 shares of the industrial products company’s stock after selling 4,826 shares during the quarter. ClariVest Asset Management LLC owned approximately 1.36% of Global Brass and Copper worth $9,464,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. purchased a new position in Global Brass and Copper in the 1st quarter worth about $207,000. A.R.T. Advisors LLC purchased a new position in Global Brass and Copper during the 1st quarter valued at about $211,000. Van Hulzen Asset Management LLC purchased a new position in Global Brass and Copper during the 1st quarter valued at about $221,000. Meeder Asset Management Inc. lifted its holdings in shares of 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 valued at $225,000 after buying an additional 6,369 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Global Brass and Copper during the 1st quarter valued at about $281,000. Institutional investors own 95.56% of the company’s stock.
In other Global Brass and Copper news, insider Kevin W. Bense sold 37,126 shares of the stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $37.72, for a total value of $1,400,392.72. Following the transaction, the insider now owns 53,648 shares of the company’s stock, valued at $2,023,602.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.40% of the company’s stock.
Shares of BRSS stock traded up $0.45 during trading hours on Friday, reaching $37.10. 63,092 shares of the company’s stock were exchanged, compared to its average volume of 99,477. The firm has a market cap of $835.96 million, a PE ratio of 13.35 and a beta of 0.21. The company has a quick ratio of 1.69, a current ratio of 3.03 and a debt-to-equity ratio of 1.69. Global Brass and Copper Holdings Inc 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 announced its earnings results on Thursday, August 2nd. The industrial products company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.82 by $0.15. The company had revenue of $459.40 million for the quarter. Global Brass and Copper had a return on equity of 42.59% and a net margin of 3.17%. equities analysts predict that Global Brass and Copper Holdings Inc will post 3.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 22nd. Shareholders of record on Monday, August 13th were paid a $0.09 dividend. This is a positive change from Global Brass and Copper’s previous quarterly dividend of $0.04. The ex-dividend date was Friday, August 10th. This represents a $0.36 annualized dividend and a yield of 0.97%. Global Brass and Copper’s dividend payout ratio is presently 12.95%.
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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