Gerdau (NYSE:GGB) EVP Mauricio Metz Sells 5,000 Shares

Key Points

  • EVP Mauricio Metz sold 5,000 Gerdau shares on May 26 at an average price of $4.70, bringing in $23,500 and reducing his ownership by 14.48% to 29,536 shares.
  • Gerdau reported weaker-than-expected quarterly results, posting $0.10 EPS versus the $0.15 consensus and revenue of $3.22 billion versus the $3.36 billion forecast.
  • The company raised its quarterly dividend to $0.0361 per share, or $0.14 annualized, for a 3.1% yield; analysts currently rate the stock a “Moderate Buy” with an average target price of $5.12.

Gerdau S.A. (NYSE:GGB - Get Free Report) EVP Mauricio Metz sold 5,000 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $4.70, for a total value of $23,500.00. Following the transaction, the executive vice president owned 29,536 shares of the company's stock, valued at approximately $138,819.20. This represents a 14.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Mauricio Metz also recently made the following trade(s):

  • On Wednesday, May 13th, Mauricio Metz sold 5,000 shares of Gerdau stock. The stock was sold at an average price of $4.85, for a total value of $24,250.00.
  • On Tuesday, May 5th, Mauricio Metz sold 2,000 shares of Gerdau stock. The stock was sold at an average price of $4.69, for a total value of $9,380.00.
  • On Tuesday, April 28th, Mauricio Metz sold 1,000 shares of Gerdau stock. The shares were sold at an average price of $4.53, for a total value of $4,530.00.
  • On Friday, April 10th, Mauricio Metz sold 1,000 shares of Gerdau stock. The shares were sold at an average price of $4.24, for a total value of $4,240.00.

Gerdau Stock Down 1.6%

Shares of NYSE GGB opened at $4.65 on Friday. The stock has a market cap of $9.29 billion, a P/E ratio of 29.03 and a beta of 1.51. The company has a current ratio of 2.76, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26. Gerdau S.A. has a 12-month low of $2.61 and a 12-month high of $4.98. The business's fifty day simple moving average is $4.23 and its 200-day simple moving average is $3.99.




Gerdau (NYSE:GGB - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The basic materials company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.05). Gerdau had a net margin of 2.40% and a return on equity of 6.76%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.36 billion. As a group, equities analysts predict that Gerdau S.A. will post 0.51 EPS for the current fiscal year.

Gerdau Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th will be given a dividend of $0.0361 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 3.1%. This is an increase from Gerdau's previous quarterly dividend of $0.02. The ex-dividend date is Friday, May 15th. Gerdau's payout ratio is presently 75.00%.

Hedge Funds Weigh In On Gerdau

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Gerdau by 68.9% during 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 grew its holdings in shares of Gerdau by 95.3% during the second quarter. EverSource Wealth Advisors LLC now owns 10,687 shares of the basic materials company's stock worth $31,000 after buying an additional 5,216 shares during the last quarter. Wealthstream Advisors Inc. purchased a new position in shares of Gerdau during the third quarter worth about $32,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Gerdau during the third quarter worth about $34,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Gerdau during the third quarter worth about $34,000. Hedge funds and other institutional investors own 1.49% of the company's stock.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Research Report on GGB

Gerdau Company Profile

(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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