Global Brass and Copper Holdings Inc (BRSS) was Downgraded by KeyBanc Capital Mkts to ” Sector Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. KeyBanc Capital Mkts advised their investors in a research report released on Nov 29, 2016.
On the company’s financial health, Global Brass and Copper Holdings Inc reported $0.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $0.79. The company had revenue of $349.10 million for the quarter, compared to analysts expectations of $353.83 million. The company’s revenue was down -5.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.54 EPS.
Global Brass and Copper Holdings Inc opened for trading at $30.75 and hit $31.05 on the upside on Friday, eventually ending the session at $30.85, with a gain of 0.49% or 0.15 points. The heightened volatility saw the trading volume jump to 67,802 shares. Company has a market cap of $667 M.
In a different news, on Nov 25, 2016, Robert T Micchelli (Executive) sold 13,000 shares at $30.20 per share price. According to the SEC, on Nov 23, 2016, Scott B Hamilton (General Counsel & Secretary) sold 1,700 shares at $30.52 per share price. On Nov 18, 2016, Devin K Denner (President – Chase Brass, LLC) sold 10,000 shares at $28.75 per share price, according to the Form-4 filing with the securities and exchange commission.
Global Brass and Copper Holdings Inc. is a converter fabricator processor and distributor of specialized copper and brass products including a range of sheet strip foil rod tube and fabricated metal component products. The Company operates in three segments: Olin Brass Chase Brass and A.J. Oster. Olin Brass manufactures and converts specialized copper and brass sheet strip and fabricated products. Chase Brass primarily manufactures brass rod including round hexagonal and other shapes ranging from 1/4 inch to 4.5 inches in diameter. A.J. Oster is a processor and distributor of primarily copper and copper-alloy sheet strip and foil operating six strategically-located service centers in the United States Puerto Rico and Mexico. The Company is engaged in metal melting and casting rolling drawing extruding welding and stamping to fabricate finished and semi-finished alloy products from processed scrap copper cathode and other refined metals.