Gerdau (NYSE:GGB) Insider Sells $105,250.00 in Stock
by Sarita Garza · The Markets DailyGerdau S.A. (NYSE:GGB – Get Free Report) insider Chia Yuan Wang sold 25,000 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $4.21, for a total value of $105,250.00. Following the transaction, the insider directly owned 168,895 shares of the company’s stock, valued at $711,047.95. The trade was a 12.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Chia Yuan Wang also recently made the following trade(s):
- On Wednesday, April 8th, Chia Yuan Wang sold 34,000 shares of Gerdau stock. The stock was sold at an average price of $4.00, for a total value of $136,000.00.
Gerdau Price Performance
Shares of GGB traded up $0.07 during trading hours on Tuesday, hitting $4.28. 15,193,989 shares of the stock were exchanged, compared to its average volume of 20,400,078. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.40 and a current ratio of 2.89. Gerdau S.A. has a 12-month low of $2.46 and a 12-month high of $4.66. The company has a market cap of $8.55 billion, a price-to-earnings ratio of 35.67, a price-to-earnings-growth ratio of 1.20 and a beta of 1.44. The stock’s 50-day moving average price is $3.84 and its two-hundred day moving average price is $3.72.
Gerdau (NYSE:GGB – Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The basic materials company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). Gerdau had a net margin of 1.93% and a return on equity of 6.20%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Research analysts expect that Gerdau S.A. will post 0.46 earnings per share for the current year.
Gerdau Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Thursday, March 12th were paid a $0.0194 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, March 12th. Gerdau’s dividend payout ratio (DPR) is currently 50.00%.
Institutional Trading of Gerdau
Several hedge funds have recently made changes to their positions in the company. BSW Wealth Partners raised its position in shares of Gerdau by 4.7% during the 4th quarter. BSW Wealth Partners now owns 53,697 shares of the basic materials company’s stock valued at $198,000 after buying an additional 2,428 shares during the period. Inspire Investing LLC grew its position in Gerdau by 11.0% in the fourth quarter. Inspire Investing LLC now owns 26,397 shares of the basic materials company’s stock worth $97,000 after acquiring an additional 2,607 shares during the period. Xponance LLC grew its position in Gerdau by 16.1% in the fourth quarter. Xponance LLC now owns 20,570 shares of the basic materials company’s stock worth $76,000 after acquiring an additional 2,845 shares during the period. Xponance Inc. increased its stake in Gerdau by 22.3% during the third quarter. Xponance Inc. now owns 17,725 shares of the basic materials company’s stock worth $55,000 after acquiring an additional 3,230 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Gerdau by 7.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 45,679 shares of the basic materials company’s stock worth $142,000 after acquiring an additional 3,312 shares during the last quarter. Hedge funds and other institutional investors own 1.49% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on GGB shares. Scotiabank raised shares of Gerdau from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 26th. UBS Group raised their target price on shares of Gerdau from $4.40 to $4.60 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Gerdau in a report on Friday, March 27th. JPMorgan Chase & Co. increased their price target on Gerdau from $5.00 to $5.50 and gave the company an “overweight” rating in a report on Monday. 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 research report on Wednesday, April 1st. One investment 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, the company has an average rating of “Moderate Buy” and a consensus target price of $4.90.
Check Out Our Latest Report on Gerdau
About Gerdau
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.