Chia Yuan Wang Sells 30,935 Shares of Gerdau (NYSE:GGB) Stock

Gerdau S.A. (NYSE:GGB) insider Chia Yuan Wang sold 30,935 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $4.49, for a total value of $138,898.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Chia Yuan Wang also recently made the following trade(s):

• On Tuesday, May 5th, Chia Yuan Wang sold 40,000 shares of Gerdau stock. The stock was sold at an average price of $4.75, for a total value of $190,000.00.
• On Thursday, April 30th, Chia Yuan Wang sold 20,000 shares of Gerdau stock. The stock was sold at an average price of $4.54, for a total value of $90,800.00.
• On Tuesday, April 28th, Chia Yuan Wang sold 76,700 shares of Gerdau stock. The stock was sold at an average price of $4.49, for a total value of $344,383.00.
• On Friday, April 10th, Chia Yuan Wang sold 25,000 shares of Gerdau stock. The stock was sold at an average price of $4.21, for a total value of $105,250.00.
• On Wednesday, April 8th, Chia Yuan Wang sold 34,000 shares of Gerdau stock. The stock was sold at an average price of $4.00, for a total value of $136,000.00.

Gerdau Stock Down 0.7%

Gerdau stock opened at $4.72 on Friday. The firm has a market cap of $9.43 billion, a price-to-earnings ratio of 29.47 and a beta of 1.48. Gerdau S.A. has a 52 week low of $2.80 and a 52 week high of $4.98. The business’s 50-day moving average price is $4.36 and its 200 day moving average price is $4.03. The company has a quick ratio of 1.29, a current ratio of 2.76 and a debt-to-equity ratio of 0.26.

Gerdau (NYSE:GGB) last posted its earnings results on Tuesday, April 28th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.36 billion. Gerdau had a return on equity of 6.76% and a net margin of 2.40%. As a group, sell-side analysts anticipate that Gerdau S.A. will post 0.55 earnings per share for the current year.

Gerdau Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Friday, May 15th will be issued a dividend of $0.0361 per share. This represents a $0.14 annualized dividend and a yield of 3.1%. This is a positive change from Gerdau’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Friday, May 15th. Gerdau’s dividend payout ratio is 75.00%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Gerdau

Several institutional investors have recently bought and sold shares of GGB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Gerdau by 68.9% in 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 period. EverSource Wealth Advisors LLC lifted its position 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 valued at $31,000 after acquiring an additional 5,216 shares in the last quarter. Wealthstream Advisors Inc. purchased a new position in shares of Gerdau in the third quarter valued at approximately $32,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Gerdau in the third quarter valued at approximately $34,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Gerdau in the third quarter valued at approximately $34,000. 1.49% of the stock is owned by institutional investors and hedge funds.

About Gerdau

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.