Posted by admin on May 21st, 2022
Shares of Gerdau S.A. (NYSE:GGB – Get Rating) have been given an average rating of “Buy” by the six research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $6.10.
Separately, Zacks Investment Research cut shares of Gerdau from a “buy” rating to a “hold” rating in a research report on Friday.
Several institutional investors and hedge funds have recently bought and sold shares of GGB. Capital Group International Inc. CA lifted its holdings in Gerdau by 1.8% during the first quarter. Capital Group International Inc. CA now owns 2,684,869 shares of the basic materials company’s stock valued at $17,264,000 after purchasing an additional 47,931 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Gerdau in the first quarter worth $343,000. Kiwi Wealth Investments Limited Partnership purchased a new position in shares of Gerdau in the first quarter worth $2,260,000. Quantbot Technologies LP purchased a new position in shares of Gerdau in the first quarter worth $920,000. Finally, Dynamo Administracao de Recursos Ltda. lifted its holdings in shares of Gerdau by 90.7% in the first quarter. Dynamo Administracao de Recursos Ltda. now owns 1,639,294 shares of the basic materials company’s stock worth $10,541,000 after buying an additional 779,508 shares in the last quarter.
Shares of NYSE:GGB traded up $0.28 during trading on Friday, reaching $5.74. The company had a trading volume of 17,285,212 shares, compared to its average volume of 12,671,628. The company has a current ratio of 2.43, a quick ratio of 1.26 and a debt-to-equity ratio of 0.27. Gerdau has a 12 month low of $4.19 and a 12 month high of $6.69. The company has a fifty day moving average of $5.90 and a two-hundred day moving average of $5.30. The stock has a market capitalization of $9.87 billion, a P/E ratio of 3.42, a price-to-earnings-growth ratio of 0.16 and a beta of 1.53.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 2nd. Stockholders of record on Wednesday, May 18th will be paid a $0.116 dividend. The ex-dividend date is Tuesday, May 17th. This is a positive change from Gerdau’s previous quarterly dividend of $0.04. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.08%. Gerdau’s payout ratio is currently 19.64%.
Gerdau SA provides steel products and services. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It offers semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles to the construction and manufacturing industries; finished industrial products, including commercial rolled-steel bars, and light profiles and wires; agricultural products that include stakes and smooth wire products; and drawn products comprises barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps.
Receive News & Ratings for Gerdau Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gerdau and related companies with MarketBeat.com's FREE daily email newsletter.
Contrasting F45 Training (NYSE:FXLV) & Euro Tech (NASDAQ:CLWT)
AMCON Distributing (NYSE:DIT) Receives New Coverage from Analysts at StockNews.com