Gerdau S.A. (NYSE:GGB – Get Free Report) EVP Mauricio Metz sold 7,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $4.85, for a total value of $33,950.00. Following the completion of the transaction, the executive vice president directly owned 22,536 shares of the company’s stock, valued at $109,299.60. This represents a 23.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Mauricio Metz also recently made the following trade(s):
- On Tuesday, May 26th, Mauricio Metz sold 5,000 shares of Gerdau stock. The shares were sold at an average price of $4.70, for a total value of $23,500.00.
- On Wednesday, May 13th, Mauricio Metz sold 5,000 shares of Gerdau stock. The shares were sold at an average price of $4.85, for a total value of $24,250.00.
- 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 Stock Performance
Gerdau stock opened at $4.76 on Thursday. The stock has a market cap of $9.51 billion, a P/E ratio of 29.72 and a beta of 1.48. The company has a current ratio of 2.76, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average of $4.33 and a 200-day moving average of $4.02. Gerdau S.A. has a 52 week low of $2.80 and a 52 week high of $4.98.
Gerdau Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.0361 per share. This is an increase from Gerdau’s previous quarterly dividend of $0.02. The ex-dividend date is Friday, May 15th. This represents a $0.14 annualized dividend and a dividend yield of 3.0%. Gerdau’s dividend payout ratio (DPR) is currently 75.00%.
Hedge Funds Weigh In On Gerdau
Institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Gerdau by 68.9% in 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. EverSource Wealth Advisors LLC lifted its holdings in shares of Gerdau by 95.3% in 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. Wealthstream Advisors Inc. acquired a new stake in Gerdau in the third quarter worth $32,000. Aster Capital Management DIFC Ltd acquired a new stake in Gerdau in the third quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Gerdau in the third quarter worth $34,000. 1.49% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on GGB shares. UBS Group reiterated a “buy” rating and set a $5.25 target price (up from $4.60) on shares of Gerdau in a research note on Wednesday, April 29th. Itau BBA Securities upgraded Gerdau from a “market perform” rating to an “outperform” rating and set a $4.60 target price for the company in a research note on Wednesday, April 1st. Scotiabank upgraded Gerdau from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 26th. JPMorgan Chase & Co. raised their price objective on Gerdau from $5.00 to $5.50 and gave the stock an “overweight” rating in a research note on Monday, April 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Gerdau in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.12.
Check Out Our Latest Stock Report on GGB
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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