Shares of Gerdau S.A. (NYSE:GGB) have earned an average rating of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company.

Several brokerages have recently issued reports on GGB. Credit Suisse Group downgraded Gerdau from an “outperform” rating to a “neutral” rating in a research report on Thursday, September 7th. Zacks Investment Research downgraded Gerdau from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. Santander upgraded Gerdau from a “hold” rating to a “buy” rating in a research report on Tuesday. Sandler O’Neill upgraded Gerdau from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, J P Morgan Chase & Co upgraded Gerdau from a “neutral” rating to an “overweight” rating in a research report on Friday, September 1st.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. World Asset Management Inc lifted its position in Gerdau by 0.5% in the first quarter. World Asset Management Inc now owns 71,106 shares of the basic materials company’s stock worth $245,000 after purchasing an additional 386 shares during the period. Global X Management Co. LLC lifted its position in Gerdau by 1.9% in the first quarter. Global X Management Co. LLC now owns 32,137 shares of the basic materials company’s stock worth $111,000 after purchasing an additional 589 shares during the period. Comerica Bank lifted its position in Gerdau by 1.5% in the first quarter. Comerica Bank now owns 65,710 shares of the basic materials company’s stock worth $196,000 after purchasing an additional 982 shares during the period. IPG Investment Advisors LLC lifted its position in Gerdau by 2.6% in the second quarter. IPG Investment Advisors LLC now owns 58,500 shares of the basic materials company’s stock worth $178,000 after purchasing an additional 1,500 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Gerdau by 5.7% in the first quarter. Envestnet Asset Management Inc. now owns 41,695 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 2,236 shares during the period. Hedge funds and other institutional investors own 5.32% of the company’s stock.

Gerdau (NYSE GGB) traded up 2.38% during mid-day trading on Friday, hitting $3.87. The stock had a trading volume of 6,983,642 shares. The company has a 50-day moving average of $3.64 and a 200-day moving average of $3.34. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 11.87 and a beta of 2.33. Gerdau has a 12-month low of $2.49 and a 12-month high of $4.39.

The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Thursday, August 24th were given a $0.005 dividend. The ex-dividend date was Tuesday, August 22nd. This represents a $0.02 dividend on an annualized basis and a yield of 0.52%. Gerdau’s dividend payout ratio (DPR) is -3.23%.

About Gerdau

Gerdau SA (Gerdau) is a manufacturer of long steel in the North and South America. The Company is engaged in the production and commercialization of steel products in general, through its mills located in Argentina, Brazil, Canada, Chile, Colombia, Spain, the United States, Guatemala, India, Mexico, Peru, the Dominican Republic, Uruguay and Venezuela.

Analyst Recommendations for Gerdau (NYSE:GGB)

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