According to Zacks, “GERDAU S.A. throughout its 101 years of activities, they are largest long steel producer in Latin America, and have made an important contribution in building the history of the Brazilian industry. Gerdau Group dedicates itself to meeting the growing demands of several dynamic industries involved in the production of goods and in the development of the economy. Gerdau steel is used in construction and industry as well as in the automotive and agricultural sectors. “
Separately, ValuEngine lowered shares of Gerdau from a hold rating to a sell rating in a research note on Tuesday, February 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $4.50.
GGB traded down $0.01 during trading on Monday, reaching $3.36. The company had a trading volume of 99,755 shares, compared to its average volume of 9,943,358. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 1.89. Gerdau has a 12 month low of $3.35 and a 12 month high of $4.99. The firm has a market cap of $5.90 billion, a P/E ratio of 8.35, a PEG ratio of 1.45 and a beta of 1.93.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd will be given a $0.0176 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Tuesday, May 21st. Gerdau’s dividend payout ratio is presently 25.00%.
Several hedge funds have recently made changes to their positions in GGB. Bank of New York Mellon Corp lifted its position in shares of Gerdau by 3.7% in the third quarter. Bank of New York Mellon Corp now owns 2,063,258 shares of the basic materials company’s stock worth $8,687,000 after purchasing an additional 72,739 shares in the last quarter. TIAA CREF Investment Management LLC acquired a new position in Gerdau during the third quarter worth $5,994,000. Virtu Financial LLC increased its holdings in Gerdau by 10.5% during the fourth quarter. Virtu Financial LLC now owns 66,014 shares of the basic materials company’s stock worth $248,000 after buying an additional 6,253 shares during the last quarter. AMS Capital Ltda acquired a new position in Gerdau during the fourth quarter worth $4,817,000. Finally, Deprince Race & Zollo Inc. increased its holdings in Gerdau by 7.0% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,357,620 shares of the basic materials company’s stock worth $5,105,000 after buying an additional 88,400 shares during the last quarter. 7.72% of the stock is currently owned by institutional investors and hedge funds.
Gerdau Company Profile
Gerdau SA provides steel-related products and services worldwide. It operates through four segments: Brazil Operations, North America Operations, South America Operations, and Special Steel Operations. The company offers semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles, which are used primarily in the construction and manufacturing industries; and drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps, as well as mines and produces iron ore.
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