Gerdau’s (GGB) “Hold (C)” Rating Reiterated at Weiss Ratings

Weiss Ratings restated their hold (c) rating on shares of Gerdau (NYSE:GGB) in a research note issued to investors on Tuesday morning,Weiss Ratings reports.

Gerdau Stock Performance

Gerdau stock opened at $3.25 on Tuesday. The firm’s fifty day moving average price is $3.10 and its 200-day moving average price is $2.91. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.50 and a current ratio of 2.89. The stock has a market cap of $6.49 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 0.81 and a beta of 1.42. Gerdau has a fifty-two week low of $2.27 and a fifty-two week high of $3.62.

Gerdau (NYSE:GGB) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The company had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.22 billion. Gerdau had a net margin of 4.81% and a return on equity of 6.51%. On average, equities research analysts expect that Gerdau will post 0.46 earnings per share for the current fiscal year.

Gerdau Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Wednesday, August 13th were given a dividend of $0.0216 per share. This is an increase from Gerdau’s previous quarterly dividend of $0.02. The ex-dividend date was Wednesday, August 13th. This represents a $0.09 annualized dividend and a dividend yield of 2.7%. Gerdau’s dividend payout ratio is 27.59%.

Institutional Trading of Gerdau

Several institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 period. Park Avenue Securities LLC purchased a new position in Gerdau in the 2nd quarter worth $29,000. EverSource Wealth Advisors LLC raised its position in 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 period. Xponance Inc. purchased a new position in Gerdau in the 1st quarter worth $40,000. Finally, Sigma Planning Corp purchased a new position in Gerdau in the 1st quarter worth $46,000. Hedge funds and other institutional investors own 1.49% of the company’s stock.

Gerdau Company Profile

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.