MiFID II – What’s Next for Regulation?

As an industry, we are all too aware of the gruelling application process to obtain a MiFID II licence and indeed, being licenced is not simply a brass …
As an industry, we are all too aware of the gruelling application process to obtain a MiFID II licence and indeed, being licenced is not simply a brass …

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Millennium Management LLC Has $8.70 Million Stake in Global Brass and Copper (BRSS)

Global Brass and Copper logo Millennium Management LLC trimmed its stake in Global Brass and Copper (NYSE:BRSS) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 262,926 shares of the industrial …

Global Brass and Copper logoMillennium Management LLC trimmed its stake in Global Brass and Copper (NYSE:BRSS) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 262,926 shares of the industrial products company’s stock after selling 32,302 shares during the quarter. Millennium Management LLC owned approximately 1.20% of Global Brass and Copper worth $8,703,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BRSS. American Century Companies Inc. grew its position in shares of Global Brass and Copper by 8.1% in the fourth quarter. American Century Companies Inc. now owns 1,021,667 shares of the industrial products company’s stock valued at $33,817,000 after purchasing an additional 76,735 shares during the period. Renaissance Technologies LLC grew its position in shares of Global Brass and Copper by 7.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,010,100 shares of the industrial products company’s stock valued at $33,434,000 after purchasing an additional 67,500 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Global Brass and Copper by 2.8% in the third quarter. Dimensional Fund Advisors LP now owns 846,170 shares of the industrial products company’s stock valued at $28,601,000 after purchasing an additional 22,849 shares during the period. Wells Fargo & Company MN grew its position in shares of Global Brass and Copper by 37.7% in the fourth quarter. Wells Fargo & Company MN now owns 795,940 shares of the industrial products company’s stock valued at $26,347,000 after purchasing an additional 217,825 shares during the period. Finally, Foundry Partners LLC grew its position in shares of Global Brass and Copper by 3.3% in the fourth quarter. Foundry Partners LLC now owns 312,459 shares of the industrial products company’s stock valued at $10,342,000 after purchasing an additional 9,975 shares during the period. 95.56% of the stock is owned by institutional investors.

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In other Global Brass and Copper news, insider Kevin W. Bense sold 3,000 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 42,195 shares of the company’s stock, valued at $1,453,617.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bradford T. Ray sold 5,000 shares of the business’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $33.05, for a total value of $165,250.00. Following the sale, the director now directly owns 15,442 shares of the company’s stock, valued at approximately $510,358.10. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by insiders.

BRSS stock opened at $32.20 on Wednesday. Global Brass and Copper has a 12-month low of $27.50 and a 12-month high of $36.50. The company has a quick ratio of 1.63, a current ratio of 2.78 and a debt-to-equity ratio of 2.10. The stock has a market cap of $702.84, a price-to-earnings ratio of 11.45 and a beta of 0.38.

Global Brass and Copper (NYSE:BRSS) last posted its quarterly earnings results on Thursday, March 1st. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.12. Global Brass and Copper had a return on equity of 46.79% and a net margin of 3.26%. The firm had revenue of $411.50 million during the quarter, compared to the consensus estimate of $412.10 million. research analysts anticipate that Global Brass and Copper will post 3.26 earnings per share for the current year.

Separately, Zacks Investment Research raised Global Brass and Copper from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Tuesday, January 2nd.

ILLEGAL ACTIVITY NOTICE: “Millennium Management LLC Has $8.70 Million Stake in Global Brass and Copper (BRSS)” was originally published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this report on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The legal version of this report can be accessed at https://stocknewstimes.com/2018/04/11/millennium-management-llc-has-8-70-million-stake-in-global-brass-and-copper-brss.html.

Global Brass and Copper Profile

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.

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

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Dimensional Fund Advisors LP Raises Position in Global Brass and Copper Holdings Inc (NYSE …

Renaissance Technologies LLC raised its position in Global Brass and Copper by 10.4% in the 2nd quarter. Renaissance Technologies LLC now owns 903,729 shares of the industrial products company’s stock worth $27,609,000 after purchasing an additional 84,929 shares during the period.

Global Brass and Copper logoDimensional Fund Advisors LP raised its position in Global Brass and Copper Holdings Inc (NYSE:BRSS) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 846,170 shares of the industrial products company’s stock after purchasing an additional 22,849 shares during the quarter. Dimensional Fund Advisors LP owned 3.86% of Global Brass and Copper worth $28,601,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Global Brass and Copper by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 2,122,515 shares of the industrial products company’s stock worth $64,843,000 after purchasing an additional 141,301 shares during the period. Renaissance Technologies LLC raised its position in Global Brass and Copper by 10.4% in the 2nd quarter. Renaissance Technologies LLC now owns 903,729 shares of the industrial products company’s stock worth $27,609,000 after purchasing an additional 84,929 shares during the period. Wells Fargo & Company MN raised its position in Global Brass and Copper by 305.4% in the 3rd quarter. Wells Fargo & Company MN now owns 578,115 shares of the industrial products company’s stock worth $19,541,000 after purchasing an additional 435,499 shares during the period. Prudential Financial Inc. raised its position in Global Brass and Copper by 6.2% in the 3rd quarter. Prudential Financial Inc. now owns 566,296 shares of the industrial products company’s stock worth $19,141,000 after purchasing an additional 32,840 shares during the period. Finally, State Street Corp increased its position in shares of Global Brass and Copper by 5.9% during the second quarter. State Street Corp now owns 412,639 shares of the industrial products company’s stock worth $12,602,000 after acquiring an additional 22,970 shares during the period. 94.88% of the stock is currently owned by institutional investors.

BRSS has been the topic of a number of research reports. BidaskClub raised shares of Global Brass and Copper from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 28th. Zacks Investment Research lowered shares of Global Brass and Copper from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Finally, ValuEngine lowered shares of Global Brass and Copper from a “buy” rating to a “hold” rating in a research report on Saturday, November 4th.

Global Brass and Copper Holdings Inc (NYSE:BRSS) opened at $32.85 on Thursday. The company has a market cap of $728.30, a P/E ratio of 13.63 and a beta of 0.47. Global Brass and Copper Holdings Inc has a 1 year low of $28.10 and a 1 year high of $39.85. The company has a debt-to-equity ratio of 2.19, a quick ratio of 2.00 and a current ratio of 3.26.

Global Brass and Copper (NYSE:BRSS) last issued its earnings results on Thursday, November 2nd. The industrial products company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. The business had revenue of $378.60 million for the quarter, compared to analyst estimates of $376.00 million. Global Brass and Copper had a net margin of 3.61% and a return on equity of 47.75%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $0.81 earnings per share. research analysts anticipate that Global Brass and Copper Holdings Inc will post 2.47 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Dimensional Fund Advisors LP Raises Position in Global Brass and Copper Holdings Inc (NYSE:BRSS)” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://ledgergazette.com/2018/01/25/global-brass-and-copper-holdings-inc-brss-stake-lifted-by-dimensional-fund-advisors-lp.html.

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.

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

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