Gerdau (NYSE:GGB) CFO Rafael Dorneles Japur Sells 10,000 Shares

Gerdau S.A. (NYSE:GGB) CFO Rafael Dorneles Japur sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $5.10, for a total value of $51,000.00. Following the completion of the transaction, the chief financial officer directly owned 86,967 shares of the company’s stock, valued at $443,531.70. This trade represents a 10.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rafael Dorneles Japur also recently made the following trade(s):

• On Friday, May 22nd, Rafael Dorneles Japur sold 5,000 shares of Gerdau stock. The shares were sold at an average price of $4.75, for a total value of $23,750.00.

Gerdau Price Performance

Shares of GGB opened at $4.97 on Tuesday. Gerdau S.A. has a one year low of $2.85 and a one year high of $5.18. The stock’s fifty day moving average is $4.58 and its 200-day moving average is $4.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.30 and a current ratio of 2.87. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 21.61 and a beta of 1.48.

Gerdau (NYSE:GGB) last posted its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. The business had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.41 billion. Gerdau had a net margin of 3.37% and a return on equity of 7.97%. Equities analysts anticipate that Gerdau S.A. will post 0.53 EPS for the current year.

Gerdau Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 21st will be paid a $0.0448 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $0.18 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Gerdau’s previous quarterly dividend of $0.04. Gerdau’s dividend payout ratio (DPR) is currently 52.17%.

Institutional Investors Weigh In On Gerdau

Large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 valued at $28,000 after purchasing an additional 3,931 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings 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. Caitong International Asset Management Co. Ltd purchased a new position in shares of Gerdau in the third quarter worth approximately $34,000. Coldstream Capital Management Inc. acquired a new stake in shares of Gerdau during the third quarter valued at approximately $37,000. Finally, Greenspring Advisors LLC purchased a new stake in shares of Gerdau in the 4th quarter valued at approximately $40,000. 1.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

GGB has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Gerdau from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. Itau BBA Securities lowered Gerdau from an “outperform” rating to a “market perform” rating in a research note on Monday. JPMorgan Chase & Co. lifted their price target on Gerdau from $5.50 to $6.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Finally, UBS Group reissued a “buy” rating and issued a $5.25 price objective (up from $4.60) on shares of Gerdau in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gerdau presently has an average rating of “Moderate Buy” and an average target price of $5.28.

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.