Gerdau (NYSE:GGB) Earns Hold (C) Rating from Weiss Ratings

Gerdau (NYSE:GGB)‘s stock had its “hold (c)” rating reissued by investment analysts at Weiss Ratings in a research note issued on Tuesday,Weiss Ratings reports.

Gerdau Trading Up 1.1%

Shares of Gerdau stock opened at $3.27 on Tuesday. The firm has a 50-day simple moving average of $3.09 and a two-hundred day simple moving average of $2.90. The company has a market cap of $6.52 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 0.80 and a beta of 1.42. Gerdau has a fifty-two week low of $2.27 and a fifty-two week high of $3.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.50 and a current ratio of 2.89.

Gerdau (NYSE:GGB) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.22 billion. Gerdau had a return on equity of 6.51% and a net margin of 4.81%. As a group, equities analysts predict that Gerdau will post 0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GGB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Gerdau by 68.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,634 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 3,931 shares during the last quarter. Park Avenue Securities LLC acquired a new position in shares of Gerdau during the 2nd quarter worth about $29,000. EverSource Wealth Advisors LLC raised its position in shares of Gerdau by 95.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 10,687 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 5,216 shares during the last quarter. Xponance Inc. acquired a new position in shares of Gerdau during the 1st quarter worth about $40,000. Finally, Sigma Planning Corp acquired a new position in shares of Gerdau during the 1st quarter worth about $46,000. Institutional investors and hedge funds own 1.49% of the company’s stock.

Gerdau Company Profile

Gerdau SA, together with its subsidiaries, operates as a steel producer company. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It also provides semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles to the construction and manufacturing industries; drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries; and special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as in the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets.