Gerdau (NYSE:GGB) CEO Cunha Gustavo Werneck Da Sells 432,854 Shares of Stock

Gerdau S.A. (NYSE:GGB) CEO Cunha Gustavo Werneck Da sold 432,854 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $4.87, for a total value of $2,107,998.98. Following the completion of the sale, the chief executive officer owned 432,854 shares of the company’s stock, valued at $2,107,998.98. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, April 8th, Cunha Gustavo Werneck Da sold 50,000 shares of Gerdau stock. The shares were sold at an average price of $4.01, for a total value of $200,500.00.

Gerdau Stock Down 0.2%

Gerdau stock opened at $4.80 on Wednesday. The stock has a market capitalization of $9.59 billion, a PE ratio of 30.01 and a beta of 1.51. The business has a 50 day simple moving average of $3.96 and a 200-day simple moving average of $3.89. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.76 and a quick ratio of 1.29. Gerdau S.A. has a 12 month low of $2.61 and a 12 month high of $4.98.

Gerdau (NYSE:GGB) last released its earnings results on Tuesday, April 28th. The basic materials company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.36 billion. Gerdau had a return on equity of 6.76% and a net margin of 2.40%. On average, analysts anticipate that Gerdau S.A. will post 0.51 EPS for the current fiscal year.

Gerdau Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th will be paid a $0.0361 dividend. This is a boost from Gerdau’s previous quarterly dividend of $0.02. This represents a $0.14 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, May 15th. Gerdau’s dividend payout ratio is presently 37.50%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GGB shares. 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 research note on Wednesday, April 1st. UBS Group reaffirmed a “buy” rating and issued a $5.25 price target (up from $4.60) on shares of Gerdau in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Gerdau in a report on Friday, March 27th. JPMorgan Chase & Co. boosted their price objective on Gerdau from $5.00 to $5.50 and gave the company an “overweight” rating in a report on Monday, April 13th. Finally, Scotiabank upgraded Gerdau from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 26th. One research 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.12.

Institutional Investors Weigh In On Gerdau

Several large investors have recently bought and sold shares of GGB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 worth $28,000 after acquiring an additional 3,931 shares in the last quarter. Wealthstream Advisors Inc. acquired a new position in shares of Gerdau during the 3rd quarter worth about $32,000. EverSource Wealth Advisors LLC boosted 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 acquiring an additional 5,216 shares in the last quarter. Greenspring Advisors LLC acquired a new position in shares of Gerdau during the 4th quarter worth about $40,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Gerdau during the 3rd quarter worth about $34,000. Hedge funds and other institutional investors own 1.49% of the company’s stock.

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.