Gerdau S.A. (NYSE:GGB) has received an average rating of “Hold” from the nine ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $4.25.

A number of equities analysts recently issued reports on the stock. Credit Suisse Group lowered shares of Gerdau from an “outperform” rating to a “neutral” rating in a research report on Thursday, September 7th. Zacks Investment Research lowered shares of Gerdau from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. Santander upgraded shares of Gerdau from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. Sandler O’Neill upgraded shares of Gerdau from a “hold” rating to a “buy” rating in a research report on Wednesday, September 13th. Finally, J P Morgan Chase & Co upgraded shares of Gerdau from a “neutral” rating to an “overweight” rating in a research report on Friday, September 1st.

Shares of Gerdau (NYSE GGB) traded down 3.46% during trading on Friday, reaching $3.63. 4,850,739 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $3.66 and its 200 day moving average price is $3.32. The firm has a market capitalization of $6.20 billion, a PE ratio of 11.13 and a beta of 2.33. Gerdau has a 52 week low of $2.57 and a 52 week high of $4.39.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Thursday, August 24th were given a dividend of $0.005 per share. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $0.02 annualized dividend and a dividend yield of 0.53%. Gerdau’s dividend payout ratio (DPR) is -3.23%.

Several large investors have recently bought and sold shares of GGB. Global X Management Co. LLC boosted its position in shares of Gerdau by 6.2% during the 2nd quarter. Global X Management Co. LLC now owns 34,134 shares of the basic materials company’s stock valued at $104,000 after purchasing an additional 1,997 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of Gerdau during the 2nd quarter valued at about $104,000. Lazard Asset Management LLC boosted its position in shares of Gerdau by 108.5% during the 2nd quarter. Lazard Asset Management LLC now owns 41,700 shares of the basic materials company’s stock valued at $127,000 after purchasing an additional 21,700 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Gerdau by 5.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 41,695 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 2,236 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in shares of Gerdau during the 2nd quarter valued at about $152,000. Institutional investors own 5.32% 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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