Hillsdale Investment Management Inc. Takes Position in Global Brass and Copper Holdings Inc (BRSS)
Hillsdale Investment Management Inc. bought a new stake in shares of Global Brass and Copper Holdings Inc (NYSE:BRSS) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 40,300 shares of the industrial products company’s stock, valued at approximately $1,487,000. Hillsdale Investment Management Inc. owned 0.18% of Global Brass and Copper as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in BRSS. Acadian Asset Management LLC acquired a new stake in Global Brass and Copper during the 3rd quarter valued at approximately $135,000. State Board of Administration of Florida Retirement System acquired a new stake in Global Brass and Copper during the 3rd quarter valued at approximately $228,000. Principal Financial Group Inc. acquired a new stake in Global Brass and Copper during the 1st quarter valued at approximately $207,000. Campbell & CO Investment Adviser LLC acquired a new stake in Global Brass and Copper during the 3rd quarter valued at approximately $252,000. Finally, Meeder Asset Management Inc. grew its stake in Global Brass and Copper by 787.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 7,178 shares of the industrial products company’s stock valued at $225,000 after purchasing an additional 6,369 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.
A number of equities research analysts have weighed in on BRSS shares. Zacks Investment Research lowered Global Brass and Copper from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 22nd. ValuEngine upgraded Global Brass and Copper from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd.
Global Brass and Copper (NYSE:BRSS) last issued its earnings results on Thursday, November 1st. The industrial products company reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. The company had revenue of $429.90 million during the quarter, compared to analyst estimates of $409.00 million. Global Brass and Copper had a return on equity of 41.31% and a net margin of 3.22%. Equities analysts expect that Global Brass and Copper Holdings Inc will post 2.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Monday, November 12th will be given a $0.09 dividend. This is a positive change from Global Brass and Copper’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, November 8th. This represents a $0.36 annualized dividend and a dividend yield of 1.17%. Global Brass and Copper’s dividend payout ratio (DPR) is presently 12.95%.
In other news, insider Kevin W. Bense sold 37,126 shares of Global Brass and Copper stock in a transaction that occurred 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 completion of the transaction, the insider now owns 53,648 shares in the company, valued at approximately $2,023,602.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.40% of the stock is currently owned by company 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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