Shares of Gerdau SA (NYSE:GGB) have been given an average rating of “Hold” by the twelve ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $4.00.
GGB has been the topic of a number of recent research reports. Zacks Investment Research raised Gerdau from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research report on Tuesday, January 23rd. Bank of America raised Gerdau from a “neutral” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Monday, November 27th. Morgan Stanley downgraded Gerdau from an “overweight” rating to an “equal weight” rating in a research report on Thursday, March 8th. ValuEngine raised Gerdau from a “sell” rating to a “hold” rating in a research report on Thursday, December 7th. Finally, Credit Suisse Group raised Gerdau from a “neutral” rating to an “outperform” rating in a research report on Friday, February 2nd.
Shares of Gerdau (NYSE GGB) traded down $0.18 during trading hours on Friday, hitting $4.67. The stock had a trading volume of 11,113,901 shares, compared to its average volume of 13,780,525. Gerdau has a 12 month low of $2.60 and a 12 month high of $5.32. The firm has a market capitalization of $8,495.11, a P/E ratio of -15.80 and a beta of 2.23. The company has a current ratio of 2.33, a quick ratio of 1.46 and a debt-to-equity ratio of 0.61.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Monday, March 12th will be given a dividend of $0.0093 per share. The ex-dividend date is Friday, March 9th. This is an increase from Gerdau’s previous quarterly dividend of $0.01. This represents a $0.04 dividend on an annualized basis and a yield of 0.79%. Gerdau’s dividend payout ratio (DPR) is -10.00%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Paloma Partners Management Co acquired a new stake in Gerdau during the fourth quarter valued at approximately $110,000. UBS Asset Management Americas Inc. acquired a new stake in Gerdau during the fourth quarter valued at approximately $149,000. Verde Servicos Internacionais S.A. boosted its holdings in Gerdau by 82.5% during the fourth quarter. Verde Servicos Internacionais S.A. now owns 51,100 shares of the basic materials company’s stock valued at $190,000 after purchasing an additional 23,100 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Gerdau by 820.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 61,391 shares of the basic materials company’s stock valued at $229,000 after purchasing an additional 54,722 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Gerdau by 37.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 65,021 shares of the basic materials company’s stock valued at $242,000 after purchasing an additional 17,885 shares in the last quarter. 4.19% of the stock is currently owned by institutional investors and hedge funds.
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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.
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