Global Brass and Copper (NYSE:BRSS) announced its earnings results on Thursday. The industrial products company reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77, Fidelity Earnings reports. The business had revenue of $429.90 million during the quarter, compared to the consensus estimate of $409.00 million. Global Brass and Copper had a net margin of 3.17% and a return on equity of 42.59%.
Shares of BRSS stock traded down $2.19 on Friday, hitting $30.16. The stock had a trading volume of 238,274 shares, compared to its average volume of 100,812. The company has a market capitalization of $710.23 million, a PE ratio of 10.85 and a beta of 0.28. The company has a current ratio of 3.03, a quick ratio of 1.69 and a debt-to-equity ratio of 1.69. Global Brass and Copper has a 52-week low of $27.50 and a 52-week high of $39.05.
The company also recently announced a dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Monday, November 12th will be paid a $0.09 dividend. The ex-dividend date is Thursday, November 8th. This is an increase from Global Brass and Copper’s previous dividend of $0.04. Global Brass and Copper’s dividend payout ratio is 12.95%.
Several research analysts have recently weighed in on BRSS shares. ValuEngine upgraded shares of Global Brass and Copper from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Zacks Investment Research upgraded shares of Global Brass and Copper from a “hold” rating to a “strong-buy” rating and set a $43.00 target price for the company in a research note on Wednesday, August 22nd.
In other news, insider Kevin W. Bense sold 37,126 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $37.72, for a total value of $1,400,392.72. Following the completion of the transaction, the insider now directly owns 53,648 shares in the company, valued at $2,023,602.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is currently owned by corporate insiders.
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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