Noteworthy Price Action: Will Global Brass and Copper Holdings Inc Run Out of Steam Soon?

Noteworthy Price Action: Will Global Brass and Copper Holdings Inc Run Out of Steam Soon?

The stock of Global Brass and Copper Holdings Inc (NYSE:BRSS) hit a new 52-week high and has $43.29 target or 41.00% above today’s $30.70 share price. The 8 months bullish chart indicates low risk for the $670.61 million company. The 1-year high was reported on Oct, 17 by Barchart.com. If the $43.29 price target is reached, the company will be worth $274.95M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 54,591 shares traded hands. Global Brass and Copper Holdings Inc (NYSE:BRSS) has risen 23.83% since March 14, 2016 and is uptrending. It has outperformed by 18.22% the S&P500.

Analysts await Global Brass and Copper Holdings Inc (NYSE:BRSS) to report earnings on November, 7. They expect $0.82 earnings per share, up 64.00% or $0.32 from last year’s $0.5 per share. BRSS’s profit will be $17.91M for 9.36 P/E if the $0.82 EPS becomes a reality. After $0.35 actual earnings per share reported by Global Brass and Copper Holdings Inc for the previous quarter, Wall Street now forecasts 134.29% EPS growth.

According to Zacks Investment Research, “Global Brass & Copper Holdings, Inc. is a converter, fabricator, distributor and processor of copper and brass products primarily in North America. The Company’s product include sheet, strip, foil, rod, tube and fabricated metal component that it sells under the Olin Brass, Chase Brass and A.J. Oster brand names. It also engages in metal melting and casting, rolling, drawing, extruding and stamping to fabricate finished and semi-finished alloy products. The company serves building and housing, munitions, automotive, transportation, coinage, electronics/electrical components, industrial machinery and equipment and general consumer end markets. Global Brass & Copper Holdings, Inc. is headquartered in Schaumburg, United States.”

Insitutional Activity: The institutional sentiment increased to 1.27 in Q2 2016. Its up 0.30, from 0.97 in 2016Q1. The ratio is positive, as 10 funds sold all Global Brass and Copper Holdings Inc shares owned while 46 reduced positions. 17 funds bought stakes while 54 increased positions. They now own 20.16 million shares or 2.36% less from 20.64 million shares in 2016Q1.
The New York-based Spark Investment has invested 0.04% in Global Brass and Copper Holdings Inc (NYSE:BRSS). Kennedy Management last reported 251,682 shares in the company. The Massachusetts-based State Street Corp has invested 0% in Global Brass and Copper Holdings Inc (NYSE:BRSS). Prudential last reported 0.02% of its portfolio in the stock. Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 626 shares or 0% of the stock. Schroder Invest Management accumulated 79,200 shares or 0% of the stock. The New York-based Morgan Stanley has invested 0% in Global Brass and Copper Holdings Inc (NYSE:BRSS). Boothbay Fund Mngmt Ltd Com has 7,511 shares for 0.1% of their US portfolio. Federated Investors Pa accumulated 0% or 37,217 shares. Royal Bancorp Of Canada holds 1,464 shares or 0% of its portfolio. California Pub Employees Retirement Sys holds 71,100 shares or 0% of its portfolio. Ajo L P accumulated 64,616 shares or 0.01% of the stock. The Japan-based Blackrock Japan has invested 0% in Global Brass and Copper Holdings Inc (NYSE:BRSS). Financial Bank Of New York Mellon Corporation reported 122,078 shares or 0% of all its holdings. Globeflex Capital Limited Partnership, a California-based fund reported 36 shares.

Insider Transactions: Since August 24, 2016, the stock had 0 buys, and 4 sales for $972,453 net activity. Shares for $86,700 were sold by Welch Martin E. $315,685 worth of Global Brass and Copper Holdings Inc (NYSE:BRSS) was sold by Micchelli Robert T on Wednesday, September 7. Hamilton Scott B also sold $260,061 worth of Global Brass and Copper Holdings Inc (NYSE:BRSS) shares.

More notable recent Global Brass and Copper Holdings Inc (NYSE:BRSS) news were published by: Marketwatch.com which released: “Global Brass & Copper Holdings Inc.” on May 25, 2013, also Businesswire.com with their article: “Global Brass and Copper Holdings, Inc. Reports Second Quarter 2016 Financial …” published on August 04, 2016, Businesswire.com published: “Global Brass and Copper Holdings, Inc. Announces Date and Time for Release of …” on July 11, 2016. More interesting news about Global Brass and Copper Holdings Inc (NYSE:BRSS) were released by: Businesswire.com and their article: “Global Brass and Copper Holdings, Inc. Reports Temporary Disruption to a …” published on May 18, 2016 as well as Businesswire.com‘s news article titled: “Global Brass and Copper Holdings, Inc. Reports Fourth Quarter 2015 and Fiscal …” with publication date: March 08, 2016.

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