Municipal Employees Retirement System of Michigan Sells 7,500 Shares of Global Brass and Copper Holdings, Inc. (BRSS)

Municipal Employees Retirement System of Michigan cut its stake in shares of Global Brass and Copper Holdings, Inc. (NYSE:BRSS) by 20.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 29,190 shares of the industrial products company’s stock after selling 7,500 shares during the period. Municipal Employees Retirement System of Michigan owned 0.13% of Global Brass and Copper Holdings worth $892,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BRSS. State Board of Administration of Florida Retirement System bought a new position in shares of Global Brass and Copper Holdings during the fourth quarter worth about $262,000. Norges Bank bought a new position in shares of Global Brass and Copper Holdings during the fourth quarter worth about $463,000. Teachers Advisors LLC boosted its position in shares of Global Brass and Copper Holdings by 78.1% in the fourth quarter. Teachers Advisors LLC now owns 103,500 shares of the industrial products company’s stock worth $3,550,000 after buying an additional 45,392 shares during the period. Sawgrass Asset Management LLC bought a new position in shares of Global Brass and Copper Holdings during the first quarter worth about $351,000. Finally, Hillcrest Asset Management LLC boosted its position in shares of Global Brass and Copper Holdings by 7.9% in the first quarter. Hillcrest Asset Management LLC now owns 341,016 shares of the industrial products company’s stock worth $11,731,000 after buying an additional 24,945 shares during the period. Institutional investors and hedge funds own 93.17% of the company’s stock.

Global Brass and Copper Holdings, Inc. (NYSE:BRSS) opened at 28.70 on Friday. The firm’s 50-day moving average price is $31.05 and its 200-day moving average price is $32.73. Global Brass and Copper Holdings, Inc. has a one year low of $22.75 and a one year high of $39.85. The company has a market cap of $628.64 million, a PE ratio of 14.06 and a beta of 0.44.

Global Brass and Copper Holdings (NYSE:BRSS) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.79 by $0.03. Global Brass and Copper Holdings had a return on equity of 55.01% and a net margin of 3.10%. The company had revenue of $377.40 million for the quarter, compared to analyst estimates of $398.45 million. During the same quarter in the prior year, the company earned $0.43 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts forecast that Global Brass and Copper Holdings, Inc. will post $2.66 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Monday, August 14th will be given a dividend of $0.06 per share. This is a positive change from Global Brass and Copper Holdings’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, August 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.84%. Global Brass and Copper Holdings’s dividend payout ratio is presently 11.82%.

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Separately, Zacks Investment Research cut Global Brass and Copper Holdings from a “buy” rating to a “hold” rating in a report on Thursday, May 11th.

About Global Brass and Copper Holdings

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.

Institutional Ownership by Quarter for Global Brass and Copper Holdings (NYSE:BRSS)

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