Gerdau (NYSE:GGB) EVP Mauricio Metz Sells 5,000 Shares of Stock

Gerdau S.A. (NYSE:GGBGet Free Report) EVP Mauricio Metz sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $4.85, for a total value of $24,250.00. Following the completion of the sale, the executive vice president directly owned 34,536 shares in the company, valued at approximately $167,499.60. This represents a 12.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Mauricio Metz also recently made the following trade(s):

  • On Tuesday, May 5th, Mauricio Metz sold 2,000 shares of Gerdau stock. The shares were sold at an average price of $4.69, for a total value of $9,380.00.
  • On Tuesday, April 28th, Mauricio Metz sold 1,000 shares of Gerdau stock. The shares were sold at an average price of $4.53, for a total value of $4,530.00.
  • On Friday, April 10th, Mauricio Metz sold 1,000 shares of Gerdau stock. The shares were sold at an average price of $4.24, for a total value of $4,240.00.

Gerdau Trading Down 2.2%

Shares of NYSE:GGB opened at $4.61 on Friday. The company has a market cap of $9.21 billion, a P/E ratio of 28.78 and a beta of 1.51. Gerdau S.A. has a 52-week low of $2.61 and a 52-week high of $4.98. The stock’s 50-day moving average is $4.01 and its 200-day moving average is $3.91. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 2.76.

Gerdau (NYSE:GGBGet Free Report) last released its earnings results on Tuesday, April 28th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.36 billion. Gerdau had a net margin of 2.40% and a return on equity of 6.76%. Equities research analysts predict that Gerdau S.A. will post 0.51 earnings per share for the current year.

Gerdau Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Friday, May 15th will be paid a dividend of $0.0361 per share. This represents a $0.14 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, May 15th. This is an increase from Gerdau’s previous quarterly dividend of $0.02. Gerdau’s dividend payout ratio is currently 37.50%.

Analyst Ratings Changes

GGB has been the subject of several research analyst reports. Scotiabank upgraded shares of Gerdau from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 26th. JPMorgan Chase & Co. boosted their price objective on Gerdau from $5.00 to $5.50 and gave the company an “overweight” rating in a research report on Monday, April 13th. Weiss Ratings restated a “hold (c)” rating on shares of Gerdau in a research report on Friday, March 27th. Itau BBA Securities upgraded Gerdau from a “market perform” rating to an “outperform” rating and set a $4.60 price objective on the stock in a research report on Wednesday, April 1st. Finally, UBS Group restated a “buy” rating and set a $5.25 price objective (up from $4.60) on shares of Gerdau in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.12.

Read Our Latest Report on GGB

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GGB. Capital International Investors lifted its stake in Gerdau by 1.9% during the third quarter. Capital International Investors now owns 31,046,243 shares of the basic materials company’s stock worth $96,243,000 after purchasing an additional 581,958 shares during the period. Kapitalo Investimentos Ltda bought a new position in Gerdau during the third quarter worth about $5,958,000. GSA Capital Partners LLP acquired a new stake in Gerdau in the 3rd quarter valued at $981,000. SPX Gestao de Recursos Ltda boosted its stake in Gerdau by 56.5% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 4,491,042 shares of the basic materials company’s stock valued at $13,922,000 after buying an additional 1,621,938 shares in the last quarter. Finally, Causeway Capital Management LLC boosted its stake in Gerdau by 169.2% in the 3rd quarter. Causeway Capital Management LLC now owns 7,189,270 shares of the basic materials company’s stock valued at $22,287,000 after buying an additional 4,519,092 shares in the last quarter. Institutional investors and hedge funds own 1.49% of the company’s stock.

About Gerdau

(Get Free Report)

Gerdau SA is a Brazilian-based steel producer engaged in the manufacture and distribution of long steel products for the construction, industrial and agricultural sectors. Established in 1901, the company operates an integrated network of electric-arc furnaces and rolling mills, producing reinforcement bars, wire rod, merchant bars and structural shapes. Gerdau’s product portfolio also includes specialty long steel, high-yield reinforcement, rail, beams and steel coils, as well as value-added processing services such as cutting, bending and coating.

The company has expanded its footprint beyond Brazil, with significant operations in North America, South America and a presence in select European markets.

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Insider Buying and Selling by Quarter for Gerdau (NYSE:GGB)

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