Gerdau (NYSE:GGB) CEO Cunha Gustavo Werneck Da Buys 165,224 Shares of Stock

Gerdau S.A. (NYSE:GGB) CEO Cunha Gustavo Werneck Da purchased 165,224 shares of the company’s stock in a transaction on Friday, June 12th. The stock was acquired at an average price of $4.73 per share, with a total value of $781,509.52. Following the completion of the purchase, the chief executive officer directly owned 165,224 shares in the company, valued at $781,509.52. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Cunha Gustavo Werneck Da also recently made the following trade(s):

• On Friday, May 8th, Cunha Gustavo Werneck Da sold 432,854 shares of Gerdau stock. The stock was sold at an average price of $4.87, for a total value of $2,107,998.98.
• On Wednesday, April 8th, Cunha Gustavo Werneck Da sold 50,000 shares of Gerdau stock. The stock was sold at an average price of $4.01, for a total value of $200,500.00.

Gerdau Trading Down 2.0%

GGB stock opened at $4.65 on Tuesday. Gerdau S.A. has a 1-year low of $2.80 and a 1-year high of $4.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.76 and a quick ratio of 1.29. The company has a market capitalization of $9.31 billion, a price-to-earnings ratio of 29.09 and a beta of 1.48. The business has a 50 day simple moving average of $4.51 and a two-hundred day simple moving average of $4.08.

Gerdau (NYSE:GGB) last posted its quarterly earnings results on Tuesday, April 28th. The basic materials company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.05). Gerdau had a return on equity of 6.76% and a net margin of 2.40%.The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.36 billion. Research analysts anticipate that Gerdau S.A. will post 0.55 EPS for the current fiscal year.

Gerdau Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.0361 per share. This is a positive change from Gerdau’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.14 annualized dividend and a dividend yield of 3.1%. Gerdau’s payout ratio is currently 75.00%.

Institutional Trading of Gerdau

Several hedge funds have recently modified their holdings of GGB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Gerdau by 68.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,634 shares of the basic materials company’s stock valued at $28,000 after buying an additional 3,931 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Gerdau by 95.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 10,687 shares of the basic materials company’s stock valued at $31,000 after buying an additional 5,216 shares during the period. Greenspring Advisors LLC purchased a new stake in Gerdau during the 4th quarter valued at $40,000. Aster Capital Management DIFC Ltd purchased a new stake in Gerdau during the 3rd quarter valued at $34,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Gerdau during the 3rd quarter valued at $34,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on GGB shares. Scotiabank raised Gerdau from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 26th. Itau BBA Securities raised Gerdau from a “market perform” rating to an “outperform” rating and set a $4.60 price objective on the stock in a report on Wednesday, April 1st. JPMorgan Chase & Co. upped their price objective on Gerdau from $5.00 to $5.50 and gave the stock an “overweight” rating in a report on Monday, April 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gerdau in a report on Friday, March 27th. Finally, UBS Group reaffirmed a “buy” rating and set a $5.25 price objective (up from $4.60) on shares of Gerdau in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.12.

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.