Gerdau SA (NYSE:GGB) has earned an average rating of “Hold” from the twelve analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $4.00.

A number of brokerages recently weighed in on GGB. ValuEngine upgraded shares of Gerdau from a “sell” rating to a “hold” rating in a report on Thursday, December 7th. Zacks Investment Research cut shares of Gerdau from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. Santander upgraded shares of Gerdau from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. JPMorgan Chase & Co. upgraded shares of Gerdau from a “neutral” rating to an “overweight” rating in a research note on Friday, September 1st. Finally, Bank of America upgraded shares of Gerdau from a “neutral” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Monday, November 27th.

Shares of Gerdau (NYSE:GGB) traded down $0.03 during mid-day trading on Monday, hitting $3.71. 3,507,400 shares of the company were exchanged, compared to its average volume of 8,044,672. The company has a quick ratio of 1.16, a current ratio of 1.89 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $6,030.00, a PE ratio of -10.31 and a beta of 2.27. Gerdau has a 52-week low of $2.60 and a 52-week high of $4.39.

The company also recently declared a None dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 24th were paid a $0.007 dividend. The ex-dividend date of this dividend was Wednesday, November 22nd. This represents a yield of 0.8%. This is an increase from Gerdau’s previous None dividend of $0.01. Gerdau’s payout ratio is currently -2.78%.

A number of institutional investors have recently modified their holdings of the stock. BT Investment Management Ltd purchased a new stake in shares of Gerdau during the 2nd quarter worth approximately $32,817,000. JPMorgan Chase & Co. lifted its position in shares of Gerdau by 33.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,131,604 shares of the basic materials company’s stock worth $30,865,000 after buying an additional 2,267,649 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Gerdau by 21.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,508,417 shares of the basic materials company’s stock worth $19,851,000 after buying an additional 1,151,396 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Gerdau by 44.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,567,511 shares of the basic materials company’s stock worth $10,881,000 after buying an additional 1,094,545 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Gerdau by 9.2% during the 2nd quarter. Vanguard Group Inc. now owns 11,418,488 shares of the basic materials company’s stock worth $34,826,000 after buying an additional 958,540 shares during the last quarter. Institutional investors own 4.88% of the company’s stock.

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Gerdau Company Profile

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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