Gerdau (NYSE:GGB) Insider Clemir Uhlein Sells 38,276 Shares of Stock

Gerdau S.A. (NYSE:GGBGet Free Report) insider Clemir Uhlein sold 38,276 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $4.51, for a total value of $172,624.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Gerdau Price Performance

Gerdau stock opened at $4.57 on Friday. The firm has a market capitalization of $9.12 billion, a P/E ratio of 28.53 and a beta of 1.44. Gerdau S.A. has a 1 year low of $2.48 and a 1 year high of $4.66. The business has a 50-day moving average of $3.87 and a 200-day moving average of $3.81. The company has a current ratio of 2.76, a quick ratio of 1.40 and a debt-to-equity ratio of 0.26.

Gerdau (NYSE:GGBGet Free Report) last posted its earnings results on Monday, April 27th. The basic materials company reported $0.10 earnings per share (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%. On average, equities analysts anticipate that Gerdau S.A. will post 0.51 EPS for the current year.

Gerdau Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.0361 per share. This is a boost from Gerdau’s previous quarterly dividend of $0.02. The ex-dividend date is Friday, May 15th. This represents a $0.14 annualized dividend and a dividend yield of 3.2%. Gerdau’s dividend payout ratio (DPR) is presently 37.50%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Scotiabank upgraded Gerdau from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 26th. UBS Group reiterated a “buy” rating and set a $5.25 price objective (up from $4.60) on shares of Gerdau in a report on Wednesday. JPMorgan Chase & Co. lifted 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Gerdau in a report on Friday, March 27th. Finally, Itau BBA Securities upgraded 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 investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.12.

Check Out Our Latest Stock Report on GGB

Key Stories Impacting Gerdau

Here are the key news stories impacting Gerdau this week:

Institutional Investors Weigh In On Gerdau

Several institutional investors have recently bought and sold shares of GGB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 valued at $28,000 after acquiring an additional 3,931 shares in the last quarter. Wealthstream Advisors Inc. bought a new stake in Gerdau in the 3rd quarter valued at approximately $32,000. EverSource Wealth Advisors LLC lifted its stake 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 valued at $31,000 after acquiring an additional 5,216 shares in the last quarter. Greenspring Advisors LLC bought a new stake in Gerdau in the 4th quarter valued at approximately $40,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Gerdau in the 3rd quarter valued at approximately $34,000. Institutional investors own 1.49% of the company’s stock.

About Gerdau

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Gerdau (NYSE:GGB)

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