Citadel Boosts Global Brass & Copper Stake ~ market folly

Thursday, October 3, 2013

Citadel Boosts Global Brass & Copper Stake

Ken Griffin's hedge fund firm Citadel has filed a 13G with the SEC regarding shares of Global Brass & Copper (BRSS).  Per the filing, Citadel has revealed a 5.8% ownership stake in the company with 1,223,190 shares.

This marks a 253% increase in their position size since the end of the second quarter.  The filing was required due to activity on September 26th.

Per Google Finance, Global Brass & Copper "a converter, fabricator, distributor and processor of specialized copper and brass products in North America. The Company operates in three segments: Olin Brass, Chase Brass and A.J. Oster. The Company is engaged in metal melting and casting, rolling, drawing, extruding and stamping to fabricate finished and semi-finished alloy products from processed scrap, copper cathode and other refined metals. The Company’s products include a range of sheet, strip, foil, rod, tube and fabricated metal component products that it sells under the Olin Brass, Chase Brass and A.J. Oster brand names. The Company’s products are used in a range of applications, including the building and housing, munitions, automotive, transportation, coinage, electronics/electrical components, industrial machinery and equipment and general consumer end markets."

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