Gerdau (NYSE:GGB) Insider Sells $90,800.00 in Stock

Gerdau S.A. (NYSE:GGB) insider Chia Yuan Wang sold 20,000 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $4.54, for a total value of $90,800.00. Following the transaction, the insider owned 72,195 shares of the company’s stock, valued at $327,765.30. The trade was a 21.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Chia Yuan Wang also recently made the following trade(s):

• On Tuesday, April 28th, Chia Yuan Wang sold 76,700 shares of Gerdau stock. The stock was sold at an average price of $4.49, for a total value of $344,383.00.
• On Friday, April 10th, Chia Yuan Wang sold 25,000 shares of Gerdau stock. The stock was sold at an average price of $4.21, for a total value of $105,250.00.
• On Wednesday, April 8th, Chia Yuan Wang sold 34,000 shares of Gerdau stock. The shares were sold at an average price of $4.00, for a total value of $136,000.00.

Gerdau Trading Up 3.0%

NYSE:GGB opened at $4.95 on Thursday. Gerdau S.A. has a fifty-two week low of $2.48 and a fifty-two week 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 stock has a market capitalization of $9.88 billion, a PE ratio of 30.91 and a beta of 1.51. The business’s 50-day simple moving average is $3.90 and its 200-day simple moving average is $3.84.

Gerdau (NYSE:GGB) last released its quarterly earnings data on Monday, April 27th. 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 net margin of 2.40% and a return on equity of 6.76%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.36 billion. Sell-side analysts expect that Gerdau S.A. will post 0.51 earnings per share for the current fiscal year.

Gerdau Increases Dividend

The firm 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 boost from Gerdau’s previous quarterly dividend of $0.02. The ex-dividend date is Friday, May 15th. This represents a $0.14 annualized dividend and a dividend yield of 2.9%. Gerdau’s dividend payout ratio (DPR) is presently 37.50%.

Analysts Set New Price Targets

GGB has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Gerdau in a report on Friday, March 27th. JPMorgan Chase & Co. boosted their target price on Gerdau from $5.00 to $5.50 and gave the company an “overweight” rating in a research note on Monday, April 13th. Scotiabank upgraded Gerdau from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 26th. Itau BBA Securities upgraded Gerdau from a “market perform” rating to an “outperform” rating and set a $4.60 target price on the stock in a research note on Wednesday, April 1st. Finally, UBS Group restated a “buy” rating and issued a $5.25 target price (up from $4.60) on shares of Gerdau in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Gerdau currently has an average rating of “Moderate Buy” and a consensus target price of $5.12.

Institutional Investors Weigh In On Gerdau

Several institutional investors have recently bought and sold shares of GGB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Gerdau by 68.9% in 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 acquiring an additional 3,931 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Gerdau by 95.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 10,687 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 5,216 shares during the last quarter. Wealthstream Advisors Inc. acquired a new position in shares of Gerdau during the 3rd quarter worth approximately $32,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Gerdau during the 3rd quarter worth approximately $34,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Gerdau during the 3rd quarter worth approximately $34,000. Institutional investors own 1.49% of the company’s stock.

Gerdau Company Profile

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.