Global Brass and Copper Holdings, Inc. (NYSE:BRSS) Downgraded by Zacks Investment Research

Global Brass and Copper Holdings, Inc. (NYSE:BRSS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, November 8th.

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 analysts have also weighed in on the company. ValuEngine lowered Global Brass and Copper from a “buy” rating to a “hold” rating in a research report on Saturday, November 4th. BidaskClub raised Global Brass and Copper from a “sell” rating to a “hold” rating in a research report on Friday, October 13th.

Shares of Global Brass and Copper (NYSE BRSS) traded down $0.15 during midday trading on Wednesday, reaching $33.45. The company’s stock had a trading volume of 73,588 shares, compared to its average volume of 110,707. The stock has a market capitalization of $735.97, a price-to-earnings ratio of 13.07 and a beta of 0.49. The company has a current ratio of 3.26, a quick ratio of 2.00 and a debt-to-equity ratio of 2.19. Global Brass and Copper has a 52 week low of $28.00 and a 52 week high of $39.85.

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

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in shares of Global Brass and Copper during the first quarter worth $108,000. BNP Paribas Arbitrage SA grew its stake in shares of Global Brass and Copper by 388.9% during the second quarter. BNP Paribas Arbitrage SA now owns 4,493 shares of the industrial products company’s stock worth $137,000 after purchasing an additional 3,574 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Global Brass and Copper during the second quarter worth $205,000. Stevens Capital Management LP acquired a new position in shares of Global Brass and Copper during the second quarter worth $219,000. Finally, KCG Holdings Inc. acquired a new position in shares of Global Brass and Copper during the first quarter worth $230,000. Hedge funds and other institutional investors own 95.18% of the company’s stock.

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Global Brass and Copper 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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