Kennedy Capital Management Inc. trimmed its stake in Global Brass and Copper Holdings Inc (NYSE:BRSS) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 238,974 shares of the industrial products company’s stock after selling 4,327 shares during the quarter. Kennedy Capital Management Inc. owned approximately 1.09% of Global Brass and Copper worth $7,910,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. raised its holdings in Global Brass and Copper by 8.1% in the 4th quarter. American Century Companies Inc. now owns 1,021,667 shares of the industrial products company’s stock valued at $33,817,000 after acquiring an additional 76,735 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Global Brass and Copper by 2.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 846,170 shares of the industrial products company’s stock worth $28,601,000 after acquiring an additional 22,849 shares during the last quarter. Wells Fargo & Company MN grew its position in Global Brass and Copper by 37.7% during the 4th quarter. Wells Fargo & Company MN now owns 795,940 shares of the industrial products company’s stock worth $26,347,000 after acquiring an additional 217,825 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Global Brass and Copper by 6.2% during the 3rd quarter. Prudential Financial Inc. now owns 566,296 shares of the industrial products company’s stock worth $19,141,000 after buying an additional 32,840 shares during the period. Finally, State Street Corp lifted its holdings in Global Brass and Copper by 5.9% during the 2nd quarter. State Street Corp now owns 412,639 shares of the industrial products company’s stock worth $12,602,000 after buying an additional 22,970 shares during the period. Hedge funds and other institutional investors own 95.47% of the company’s stock.
Separately, Zacks Investment Research raised Global Brass and Copper from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Tuesday, January 2nd.
Global Brass and Copper Holdings Inc (NYSE BRSS) traded down $0.30 during mid-day trading on Wednesday, hitting $33.05. The stock had a trading volume of 134,787 shares, compared to its average volume of 109,526. The company has a market capitalization of $723.92, a price-to-earnings ratio of 12.57 and a beta of 0.52. The company has a current ratio of 2.78, a quick ratio of 1.63 and a debt-to-equity ratio of 2.10. Global Brass and Copper Holdings Inc has a 52 week low of $27.50 and a 52 week high of $37.35.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.73%. This is a positive change from Global Brass and Copper’s previous quarterly dividend of $0.04. The ex-dividend date was Friday, February 16th. Global Brass and Copper’s dividend payout ratio is 9.13%.
In other Global Brass and Copper news, insider Kevin W. Bense sold 3,000 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $34.45, for a total transaction of $103,350.00. Following the completion of the transaction, the insider now directly owns 42,195 shares of the company’s stock, valued at $1,453,617.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.20% of the stock is currently owned by corporate insiders.
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Global Brass and Copper 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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