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

Gerdau S.A. (NYSE:GGB) EVP Mauricio Metz sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $4.70, for a total value of $23,500.00. Following the transaction, the executive vice president directly owned 29,536 shares of the company’s stock, valued at $138,819.20. The trade was a 14.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 Price Performance

GGB stock opened at $4.65 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.76 and a quick ratio of 1.29. The business has a 50 day simple moving average of $4.23 and a 200-day simple moving average of $3.99. The firm has a market capitalization of $9.29 billion, a PE ratio of 29.03 and a beta of 1.51. Gerdau S.A. has a 1 year low of $2.61 and a 1 year high of $4.98.

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

Gerdau Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th will be given a $0.0361 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Gerdau’s previous quarterly dividend of $0.02. The ex-dividend date is Friday, May 15th. Gerdau’s dividend payout ratio (DPR) is currently 75.00%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Gerdau

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Gerdau by 68.9% during 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 acquiring an additional 3,931 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Gerdau by 95.3% during the second quarter. EverSource Wealth Advisors LLC now owns 10,687 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 5,216 shares during the last quarter. Wealthstream Advisors Inc. acquired a new stake in Gerdau during the third quarter worth $32,000. Aster Capital Management DIFC Ltd acquired a new stake in Gerdau during the third quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Gerdau during the third quarter worth $34,000. Institutional investors and hedge funds own 1.49% of the company’s stock.

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.