Gerdau S.A. (NYSE:GGB – Get Free Report) EVP Rafael Gamboa Lopes sold 51,800 shares of the company’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $5.09, for a total transaction of $263,662.00. Following the completion of the sale, the executive vice president owned 83,399 shares of the company’s stock, valued at approximately $424,500.91. This represents a 38.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Gerdau Trading Up 1.4%
Gerdau stock traded up $0.07 during mid-day trading on Monday, hitting $5.01. 9,194,526 shares of the company’s stock were exchanged, compared to its average volume of 17,434,387. The company’s 50 day simple moving average is $4.81 and its 200-day simple moving average is $4.41. The company has a quick ratio of 1.30, a current ratio of 2.87 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $9.84 billion, a P/E ratio of 21.78 and a beta of 1.49. Gerdau S.A. has a fifty-two week low of $3.03 and a fifty-two week high of $5.18.
Gerdau (NYSE:GGB – Get Free Report) last posted its earnings results on Tuesday, August 4th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. Gerdau had a return on equity of 7.97% and a net margin of 3.37%.The firm had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.41 billion. On average, equities analysts anticipate that Gerdau S.A. will post 0.55 earnings per share for the current year.
Gerdau Increases Dividend
Institutional Trading of Gerdau
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. QRG Capital Management Inc. grew its position in Gerdau by 11.9% in the first quarter. QRG Capital Management Inc. now owns 30,100 shares of the basic materials company’s stock valued at $109,000 after purchasing an additional 3,196 shares in the last quarter. Tidal Investments LLC increased its stake in Gerdau by 1.9% in the 2nd quarter. Tidal Investments LLC now owns 176,888 shares of the basic materials company’s stock valued at $715,000 after buying an additional 3,292 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Gerdau by 5.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 76,494 shares of the basic materials company’s stock worth $276,000 after buying an additional 4,151 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Gerdau by 57.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 13,243 shares of the basic materials company’s stock worth $48,000 after buying an additional 4,842 shares in the last quarter. Finally, State of Wyoming boosted its stake in shares of Gerdau by 36.1% during the 1st quarter. State of Wyoming now owns 32,986 shares of the basic materials company’s stock worth $119,000 after buying an additional 8,758 shares during the last quarter. 1.49% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have commented on GGB. JPMorgan Chase & Co. raised their target price on shares of Gerdau from $6.00 to $6.50 and gave the stock an “overweight” rating in a report on Friday, September 4th. The Goldman Sachs Group downgraded shares of Gerdau to a “neutral” rating in a research report on Monday, August 24th. Weiss Ratings upgraded shares of Gerdau from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Bank of America lowered shares of Gerdau from a “buy” rating to a “neutral” rating and set a $5.10 target price for the company. in a research note on Thursday, August 20th. Finally, HSBC cut Gerdau from a “buy” rating to a “hold” rating in a report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Gerdau has a consensus rating of “Hold” and an average price target of $5.57.
Check Out Our Latest Stock Analysis on GGB
About Gerdau
Gerdau SA is a Brazil-based steel producer whose American depositary shares trade on the New York Stock Exchange under the symbol GGB. The company manufactures and sells steel products for construction, industrial, agricultural, automotive and other end markets.
Its product portfolio includes long steel products such as rebar, wire rod, structural sections and merchant bars, as well as specialty steel and selected flat steel products. Gerdau also operates steel mills and scrap-processing facilities, using recycled ferrous scrap as an important raw material, and has activities connected with iron ore and other steelmaking inputs.
Founded in 1901, Gerdau has expanded from its Brazilian origins into one of the major steel producers in the Americas.
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