UBS Group Initiates Coverage on Gerdau (NYSE:GGB)

Equities research analysts at UBS Group began coverage on shares of Gerdau (NYSE:GGB) in a report released on Wednesday, Marketbeat.com reports. The firm set a “neutral” rating on the basic materials company’s stock.

Gerdau Stock Down 0.9 %

GGB traded down $0.03 on Wednesday, hitting $2.86. 687,592 shares of the company were exchanged, compared to its average volume of 9,064,809. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. The company has a market cap of $5.93 billion, a price-to-earnings ratio of 6.66 and a beta of 1.69. The firm has a 50-day moving average price of $2.91 and a two-hundred day moving average price of $3.16. Gerdau has a twelve month low of $2.67 and a twelve month high of $4.04.

Gerdau (NYSE:GGB) last released its earnings results on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Gerdau had a net margin of 7.03% and a return on equity of 7.74%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.66 billion. On average, equities analysts predict that Gerdau will post 0.46 earnings per share for the current year.

Hedge Funds Weigh In On Gerdau

Institutional investors and hedge funds have recently modified their holdings of the company. Private Advisor Group LLC purchased a new stake in Gerdau during the 4th quarter worth about $32,000. Wealthfront Advisers LLC acquired a new stake in Gerdau during the fourth quarter worth approximately $32,000. Zhang Financial LLC purchased a new stake in Gerdau in the fourth quarter valued at $34,000. R Squared Ltd purchased a new stake in shares of Gerdau in the 4th quarter valued at about $36,000. Finally, Rehmann Capital Advisory Group purchased a new stake in Gerdau in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 1.49% of the company’s stock.

About Gerdau

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.