Cesar Obino Da Rosa Peres Sells 8,000 Shares of Gerdau (NYSE:GGB) Stock

by · The Cerbat Gem

Gerdau S.A. (NYSE:GGB – Get Free Report) insider Cesar Obino Da Rosa Peres sold 8,000 shares of Gerdau stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $4.60, for a total transaction of $36,800.00. Following the completion of the sale, the insider owned 8 shares in the company, valued at approximately $36.80. This represents a 99.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Gerdau Price Performance

NYSE GGB opened at $4.71 on Friday. Gerdau S.A. has a 52 week low of $2.61 and a 52 week high of $4.98. The company has a current ratio of 2.76, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26. The stock has a market cap of $9.41 billion, a price-to-earnings ratio of 29.41 and a beta of 1.51. The company has a 50-day moving average price of $4.09 and a two-hundred day moving average price of $3.94.

Gerdau (NYSE:GGB – Get Free Report) last released 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). The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.36 billion. Gerdau had a net margin of 2.40% and a return on equity of 6.76%. Analysts forecast that Gerdau S.A. will post 0.51 EPS for the current year.

Gerdau Increases Dividend

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Gerdau by 68.9% in 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 acquiring an additional 3,931 shares in the last quarter. Wealthstream Advisors Inc. bought a new position in shares of Gerdau during the 3rd quarter valued at about $32,000. 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 purchasing an additional 5,216 shares during the last quarter. Greenspring Advisors LLC acquired a new position in shares of Gerdau in the 4th quarter worth approximately $40,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Gerdau in the 3rd quarter worth approximately $34,000. Institutional investors own 1.49% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on GGB. 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, April 13th. Itau BBA Securities upgraded shares of Gerdau from a “market perform” rating to an “outperform” rating and set a $4.60 target price for the company in a research report on Wednesday, April 1st. UBS Group restated a “buy” rating and set a $5.25 price target (up from $4.60) on shares of Gerdau in a research report on Wednesday, April 29th. Scotiabank raised shares of Gerdau from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Gerdau in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Gerdau has an average rating of “Moderate Buy” and a consensus price target of $5.12.

Read Our Latest Stock 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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