Marcos Zilles Mattiello Sells 10,387 Shares of Gerdau (NYSE:GGB) Stock

Gerdau S.A. (NYSE:GGB) insider Marcos Zilles Mattiello sold 10,387 shares of Gerdau stock in a transaction on Monday, June 8th. The shares were sold at an average price of $5.11, for a total value of $53,077.57. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Gerdau Trading Down 1.4%

NYSE:GGB opened at $4.74 on Friday. Gerdau S.A. has a 1 year low of $2.85 and a 1 year high of $5.18. The stock has a market cap of $9.47 billion, a price-to-earnings ratio of 20.59 and a beta of 1.48. The business has a fifty day moving average of $4.58 and a 200-day moving average of $4.31. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.30 and a current ratio of 2.87.

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

Gerdau Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be paid a dividend of $0.0448 per share. This represents a $0.18 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, August 21st. This is a positive change from Gerdau’s previous quarterly dividend of $0.04. Gerdau’s dividend payout ratio is 52.17%.

Analyst Upgrades and Downgrades

GGB has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Gerdau from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. raised their price objective on shares of Gerdau from $5.50 to $6.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. UBS Group reissued a “buy” rating and set a $5.25 target price (up from $4.60) on shares of Gerdau in a report on Wednesday, April 29th. Finally, Itau BBA Securities downgraded Gerdau from an “outperform” rating to a “market perform” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Gerdau has an average rating of “Moderate Buy” and an average price target of $5.28.

Institutional Trading of Gerdau

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 worth $28,000 after buying an additional 3,931 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Gerdau by 95.3% during the 2nd 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 during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Gerdau during the 3rd quarter worth $34,000. Coldstream Capital Management Inc. bought a new stake in shares of Gerdau during the 3rd quarter worth $37,000. Finally, Greenspring Advisors LLC acquired a new position in shares of Gerdau in the 4th quarter worth $40,000. 1.49% of the stock is owned by institutional investors and hedge funds.

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.