Insider Selling: Gerdau (NYSE:GGB) EVP Sells $50,421.14 in Stock

Gerdau S.A. (NYSE:GGB) EVP Marcos Eduardo Fara Wahrhaftig sold 12,419 shares of Gerdau stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $4.06, for a total value of $50,421.14. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Gerdau Stock Up 1.3%

Shares of GGB opened at $4.33 on Thursday. The business’s 50 day moving average is $3.84 and its 200 day moving average is $3.73. The company has a market capitalization of $8.64 billion, a PE ratio of 36.04, a price-to-earnings-growth ratio of 1.20 and a beta of 1.44. Gerdau S.A. has a 12-month low of $2.46 and a 12-month high of $4.66. The company has a current ratio of 2.89, a quick ratio of 1.40 and a debt-to-equity ratio of 0.26.

Gerdau (NYSE:GGB) last issued its earnings results on Tuesday, February 24th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.04). The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.12 billion. Gerdau had a net margin of 1.93% and a return on equity of 6.20%. Research analysts expect that Gerdau S.A. will post 0.46 earnings per share for the current fiscal year.

Gerdau Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Thursday, March 12th were paid a dividend of $0.0194 per share. This represents a $0.08 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, March 12th. Gerdau’s dividend payout ratio (DPR) is 50.00%.

Analyst Ratings Changes

Several brokerages recently issued reports on GGB. Itau BBA Securities raised Gerdau from a “market perform” rating to an “outperform” rating and set a $4.60 target price on the stock in a research note on Wednesday, April 1st. Scotiabank upgraded Gerdau from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 26th. JPMorgan Chase & Co. raised their price target on Gerdau from $5.00 to $5.50 and gave the company an “overweight” rating in a report on Monday. UBS Group raised their price target on Gerdau from $4.40 to $4.60 and gave the company a “buy” rating in a report on Thursday, April 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Gerdau in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $4.90.

Hedge Funds Weigh In On Gerdau

Several institutional investors have recently added to or reduced their stakes in GGB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Gerdau by 68.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,634 shares of the basic materials company’s stock valued at $28,000 after buying an additional 3,931 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of 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. Wealthstream Advisors Inc. purchased a new position in shares of Gerdau in the 3rd quarter worth approximately $32,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Gerdau in the 3rd quarter worth approximately $34,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Gerdau in the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 1.49% of the company’s stock.

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.