Gerdau S.A. (NYSE:GGB) has been given an average rating of “Hold” by the eight research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company.
Separately, Zacks Investment Research downgraded shares of Gerdau from a “hold” rating to a “sell” rating in a research report on Thursday, July 8th.
A number of institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. boosted its holdings in shares of Gerdau by 61.6% during the 1st quarter. Pacer Advisors Inc. now owns 5,821 shares of the basic materials company’s stock valued at $31,000 after buying an additional 2,220 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Gerdau during the 1st quarter valued at $60,000. Standard Family Office LLC bought a new stake in shares of Gerdau during the 1st quarter valued at $64,000. Eqis Capital Management Inc. bought a new stake in shares of Gerdau during the 4th quarter valued at $77,000. Finally, Corient Capital Partners LLC boosted its holdings in shares of Gerdau by 11.9% during the 1st quarter. Corient Capital Partners LLC now owns 14,584 shares of the basic materials company’s stock valued at $78,000 after buying an additional 1,555 shares in the last quarter. 3.04% of the stock is currently owned by institutional investors and hedge funds.
Gerdau (NYSE:GGB) last issued its earnings results on Wednesday, May 5th. The basic materials company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.97 billion. Gerdau had a net margin of 15.79% and a return on equity of 25.00%. On average, research analysts expect that Gerdau will post 1.15 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 3rd. Shareholders of record on Tuesday, May 18th were given a dividend of $0.0735 per share. This is an increase from Gerdau’s previous quarterly dividend of $0.02. This represents a $0.29 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend was Monday, May 17th. Gerdau’s payout ratio is presently 51.85%.
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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