Standard Family Office LLC purchased a new stake in shares of Gerdau S.A. (NYSE:GGB) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,955 shares of the basic materials company’s stock, valued at approximately $64,000.
A number of other institutional investors have also recently bought and sold shares of GGB. Comerica Bank grew its stake in Gerdau by 5.0% during the 4th quarter. Comerica Bank now owns 61,706 shares of the basic materials company’s stock valued at $286,000 after purchasing an additional 2,923 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Gerdau during the 4th quarter valued at about $85,000. SG Americas Securities LLC grew its stake in Gerdau by 129.5% during the 4th quarter. SG Americas Securities LLC now owns 30,330 shares of the basic materials company’s stock valued at $142,000 after purchasing an additional 17,113 shares during the last quarter. BlackRock Inc. grew its stake in Gerdau by 89.8% during the 4th quarter. BlackRock Inc. now owns 7,866,328 shares of the basic materials company’s stock valued at $36,736,000 after purchasing an additional 3,722,374 shares during the last quarter. Finally, Profund Advisors LLC grew its stake in Gerdau by 15.7% during the 4th quarter. Profund Advisors LLC now owns 65,796 shares of the basic materials company’s stock valued at $307,000 after purchasing an additional 8,911 shares during the last quarter. Institutional investors and hedge funds own 3.04% of the company’s stock.
A number of analysts have recently commented on the company. TheStreet upgraded Gerdau from a “c+” rating to a “b-” rating in a research note on Wednesday, March 3rd. Zacks Investment Research upgraded Gerdau from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Wednesday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $7.00.
Gerdau (NYSE:GGB) last released its quarterly earnings results on Wednesday, May 5th. The basic materials company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Gerdau had a return on equity of 25.00% and a net margin of 15.79%. Equities research analysts expect that Gerdau S.A. will post 1.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 3rd. Investors of record on Tuesday, May 18th were issued a $0.0735 dividend. This is a boost from Gerdau’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, May 17th. This represents a $0.29 dividend on an annualized basis and a yield of 4.64%. Gerdau’s dividend payout ratio is presently 51.85%.
Gerdau Company Profile
Gerdau SA provides steel products and services. It operates through four segments: Brazil Business, North America Business, South America Business, and Special Steel Business. 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 to the construction and manufacturing industries; finished industrial products, including commercial rolled-steel bars, and light profiles and wires; agricultural products that include stakes and smooth wire products; and drawn products comprises barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps.
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