Gerdau S.A. (NYSE:GGB – Get Free Report) CFO Rafael Dorneles Japur sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $4.75, for a total transaction of $23,750.00. Following the completion of the sale, the chief financial officer owned 96,967 shares of the company’s stock, valued at approximately $460,593.25. The trade was a 4.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Gerdau Trading Down 1.6%
Shares of GGB opened at $4.65 on Friday. The firm has a market cap of $9.29 billion, a price-to-earnings ratio of 29.03 and a beta of 1.51. 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 S.A. has a fifty-two week low of $2.61 and a fifty-two week high of $4.98. The firm has a 50 day moving average price of $4.23 and a 200-day moving average price of $3.99.
Gerdau (NYSE:GGB – Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.36 billion. Gerdau had a return on equity of 6.76% and a net margin of 2.40%. As a group, equities research analysts forecast that Gerdau S.A. will post 0.51 earnings per share for the current year.
Gerdau Increases Dividend
Analyst Ratings Changes
A number of brokerages have recently weighed in on GGB. JPMorgan Chase & Co. boosted their price objective on shares of Gerdau from $5.00 to $5.50 and gave the stock an “overweight” rating in a report on Monday, April 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gerdau in a research note on Friday, March 27th. UBS Group reaffirmed a “buy” rating and issued a $5.25 target price (up from $4.60) on shares of Gerdau in a research note on Wednesday, April 29th. Scotiabank raised shares of Gerdau from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 26th. Finally, Itau BBA Securities raised shares of Gerdau from a “market perform” rating to an “outperform” rating and set a $4.60 target price on the stock in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.12.
Get Our Latest Stock Analysis on GGB
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Gerdau by 68.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,634 shares of the basic materials company’s stock worth $28,000 after buying an additional 3,931 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Gerdau by 95.3% in the second quarter. EverSource Wealth Advisors LLC now owns 10,687 shares of the basic materials company’s stock worth $31,000 after buying an additional 5,216 shares during the period. Wealthstream Advisors Inc. purchased a new position in Gerdau during the 3rd quarter valued at $32,000. Aster Capital Management DIFC Ltd purchased a new position in Gerdau during the 3rd quarter valued at $34,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Gerdau during the 3rd quarter valued at $34,000. 1.49% of the stock is owned by hedge funds and other institutional investors.
Gerdau Company Profile
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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