Gerdau (NYSE:GGB) Insider Sells $138,898.15 in Stock

Gerdau S.A. (NYSE:GGB) insider Chia Yuan Wang sold 30,935 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $4.49, for a total transaction of $138,898.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, May 5th, Chia Yuan Wang sold 40,000 shares of Gerdau stock. The shares were sold at an average price of $4.75, for a total transaction of $190,000.00.
• On Thursday, April 30th, Chia Yuan Wang sold 20,000 shares of Gerdau stock. The shares were sold at an average price of $4.54, for a total transaction of $90,800.00.
• 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 transaction 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 transaction 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 transaction of $136,000.00.

Gerdau Price Performance

NYSE GGB opened at $4.58 on Friday. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of 28.60 and a beta of 1.48. Gerdau S.A. has a 1-year low of $2.80 and a 1-year 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 business’s fifty day moving average price is $4.38 and its 200-day moving average price is $4.03.

Gerdau (NYSE:GGB) last posted its quarterly earnings data 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). Gerdau had a net margin of 2.40% and a return on equity of 6.76%. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.36 billion. On average, equities analysts predict that Gerdau S.A. will post 0.55 earnings per share for the current year.

Gerdau Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th will be given a dividend of $0.0361 per share. This represents a $0.14 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, May 15th. This is an increase from Gerdau’s previous quarterly dividend of $0.02. Gerdau’s payout ratio is currently 75.00%.

Hedge Funds Weigh In On Gerdau

Large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in shares of Gerdau by 65.9% in the first quarter. AQR Capital Management LLC now owns 582,949 shares of the basic materials company’s stock worth $1,656,000 after purchasing an additional 231,588 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Gerdau by 54.6% during the 1st quarter. Millennium Management LLC now owns 4,363,764 shares of the basic materials company’s stock valued at $12,393,000 after buying an additional 1,541,311 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Gerdau by 821.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,344,175 shares of the basic materials company’s stock worth $6,657,000 after buying an additional 2,089,675 shares during the period. Sivia Capital Partners LLC purchased a new stake in Gerdau in the 2nd quarter worth $51,000. Finally, Creative Planning raised its holdings in Gerdau by 88.8% during the second quarter. Creative Planning now owns 70,079 shares of the basic materials company’s stock valued at $205,000 after acquiring an additional 32,961 shares during the period. Hedge funds and other institutional investors own 1.49% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.