Key Points
- Chairman Guilherme Chagas Johannpeter sold 85,607 shares of Gerdau on March 20 at an average price of $3.29, for total proceeds of about $281,647, per an SEC filing.
- Gerdau missed quarterly estimates, reporting $0.07 EPS vs. a $0.11 consensus and $3.08B revenue vs. $3.12B, with a net margin of 1.93% and ROE of 6.2%.
- The company recently paid a reduced quarterly dividend of $0.0194 per share (annualized $0.08), implying a 2.2% yield and a dividend payout ratio of 50%.
Gerdau S.A. (NYSE:GGB - Get Free Report) Chairman Guilherme Chagas Johannpeter sold 85,607 shares of the business's stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $3.29, for a total value of $281,647.03. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Gerdau Price Performance
Shares of GGB opened at $3.50 on Thursday. Gerdau S.A. has a 12-month low of $2.27 and a 12-month high of $4.66. The business's fifty day moving average is $3.97 and its 200 day moving average is $3.65. The company has a quick ratio of 1.40, a current ratio of 2.89 and a debt-to-equity ratio of 0.26. The stock has a market cap of $6.98 billion, a P/E ratio of 29.13, a P/E/G ratio of 0.98 and a beta of 1.46.
Gerdau (NYSE:GGB - Get Free Report) last posted its quarterly earnings results on Monday, February 23rd. 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 during the quarter, compared to analyst estimates of $3.12 billion. Gerdau had a net margin of 1.93% and a return on equity of 6.20%. Sell-side analysts anticipate that Gerdau S.A. will post 0.46 earnings per share for the current fiscal year.
Gerdau Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Thursday, March 12th were issued a dividend of $0.0194 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Thursday, March 12th. Gerdau's dividend payout ratio (DPR) is currently 50.00%.
Institutional Investors Weigh In On Gerdau
Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 acquiring an additional 3,931 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake 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 acquiring an additional 5,216 shares in the last quarter. Wealthstream Advisors Inc. purchased a new stake in shares of Gerdau in the third quarter valued at about $32,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Gerdau in the third quarter valued at about $34,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Gerdau during the third quarter valued at about $34,000. 1.49% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. UBS Group restated a "buy" rating and issued a $4.60 target price (up from $4.00) on shares of Gerdau in a report on Monday, December 15th. Weiss Ratings reiterated a "hold (c)" rating on shares of Gerdau in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $4.60.
View Our Latest Report on Gerdau
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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