Key Points
- Gerdau CFO Rafael Dorneles Japur sold 10,000 shares at an average price of $5.10, worth $51,000, reducing his holdings by 10.31% to 86,967 shares. He also sold 5,000 shares in May.
- Gerdau matched quarterly EPS expectations at $0.15 and reported $3.45 billion in revenue, above the $3.41 billion consensus estimate.
- The company increased its quarterly dividend to $0.0448 per share, equivalent to a 3.6% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $5.28.
Gerdau S.A. (NYSE:GGB - Get Free Report) CFO Rafael Dorneles Japur sold 10,000 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $5.10, for a total value of $51,000.00. Following the sale, the chief financial officer owned 86,967 shares of the company's stock, valued at $443,531.70. The trade was a 10.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Rafael Dorneles Japur also recently made the following trade(s):
- On Friday, May 22nd, Rafael Dorneles Japur sold 5,000 shares of Gerdau stock. The stock was sold at an average price of $4.75, for a total transaction of $23,750.00.
Gerdau Stock Performance
GGB stock opened at $4.97 on Tuesday. The stock has a market cap of $9.94 billion, a P/E ratio of 21.61 and a beta of 1.48. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.30 and a current ratio of 2.87. The firm has a 50 day simple moving average of $4.58 and a 200 day simple moving average of $4.30. Gerdau S.A. has a 52 week low of $2.85 and a 52 week high of $5.18.
Gerdau (NYSE:GGB - Get Free Report) last released its earnings results on Tuesday, August 4th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.15. Gerdau had a net margin of 3.37% and a return on equity of 7.97%. The company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.41 billion. Research analysts anticipate that Gerdau S.A. will post 0.53 earnings per share for the current fiscal year.
Gerdau Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be given a $0.0448 dividend. This represents a $0.18 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, August 21st. This is an increase from Gerdau's previous quarterly dividend of $0.04. Gerdau's payout ratio is currently 52.17%.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in Gerdau by 65.9% during the first quarter. AQR Capital Management LLC now owns 582,949 shares of the basic materials company's stock valued at $1,656,000 after acquiring an additional 231,588 shares during the period. Millennium Management LLC increased its stake in shares of Gerdau by 54.6% in the first quarter. Millennium Management LLC now owns 4,363,764 shares of the basic materials company's stock worth $12,393,000 after purchasing an additional 1,541,311 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Gerdau by 821.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,344,175 shares of the basic materials company's stock worth $6,657,000 after purchasing an additional 2,089,675 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Gerdau during the 2nd quarter worth about $51,000. Finally, Creative Planning boosted its stake in Gerdau by 88.8% during the 2nd quarter. Creative Planning now owns 70,079 shares of the basic materials company's stock valued at $205,000 after purchasing an additional 32,961 shares during the period. Institutional investors own 1.49% of the company's stock.
Analyst Upgrades and Downgrades
GGB has been the topic of several recent research reports. UBS Group reaffirmed a "buy" rating and set a $5.25 price objective (up from $4.60) on shares of Gerdau in a research report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price target on shares of Gerdau from $5.50 to $6.00 and gave the stock an "overweight" rating in a research note on Thursday, June 25th. Itau BBA Securities downgraded shares of Gerdau from an "outperform" rating to a "market perform" rating in a report on Monday. Finally, Weiss Ratings raised shares of Gerdau from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.28.
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Gerdau Company Profile
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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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