Global Brass and Copper Holdings Inc (NYSE:BRSS) declared a dividend on Thursday, November 1st, Fidelity reports. Investors of record on Monday, November 12th will be paid a dividend of 0.09 per share by the industrial products company on Wednesday, November 21st. The ex-dividend date of this dividend is Thursday, November 8th. This is a boost from Global Brass and Copper’s previous dividend of $0.04.
Global Brass and Copper has raised its dividend payment by an average of 9.1% annually over the last three years. Global Brass and Copper has a payout ratio of 11.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Global Brass and Copper to earn $3.15 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 11.4%.
Shares of NYSE:BRSS opened at $30.16 on Friday. The company has a market cap of $701.14 million, a P/E ratio of 10.85 and a beta of 0.46. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.69 and a current ratio of 3.03. Global Brass and Copper has a 12-month low of $27.50 and a 12-month high of $39.05.
Global Brass and Copper (NYSE:BRSS) last announced its earnings results on Thursday, November 1st. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The company had revenue of $429.90 million for the quarter, compared to analysts’ expectations of $409.00 million. Global Brass and Copper had a return on equity of 42.59% and a net margin of 3.17%. As a group, research analysts predict that Global Brass and Copper will post 3.09 earnings per share for the current fiscal year.
In other Global Brass and Copper news, insider Kevin W. Bense sold 37,126 shares of the business’s stock in a transaction on 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 SEC, which can be accessed through the SEC website. 4.40% of the stock is currently owned by insiders.
Several research analysts recently issued reports on the company. Zacks Investment Research raised Global Brass and Copper from a “hold” rating to a “strong-buy” rating and set a $43.00 target price on the stock in a research report on Wednesday, August 22nd. ValuEngine raised Global Brass and Copper from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd.
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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