Gerdau SA (GGB) Given Consensus Rating of “Hold” by Brokerages

Gerdau SA (NYSE:GGB) has been given an average recommendation of “Hold” by the seven analysts that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and five have issued a buy rating on the company.

A number of analysts have recently issued reports on GGB shares. Zacks Investment Research upgraded Gerdau from a “hold” rating to a “buy” rating and set a $4.50 target price for the company in a report on Friday, January 4th. Goldman Sachs Group initiated coverage on Gerdau in a report on Thursday, December 13th. They set a “buy” rating for the company. Scotiabank upgraded Gerdau from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 18th. Finally, ValuEngine lowered Gerdau from a “hold” rating to a “sell” rating in a report on Tuesday, February 19th.

A number of hedge funds and other institutional investors have recently bought and sold shares of GGB. Nuveen Asset Management LLC acquired a new stake in Gerdau during the fourth quarter worth about $49,000. GSA Capital Partners LLP acquired a new stake in Gerdau during the fourth quarter valued at approximately $72,000. First Trust Advisors LP bought a new position in shares of Gerdau in the fourth quarter valued at approximately $92,000. NEXT Financial Group Inc raised its stake in shares of Gerdau by 9.5% in the fourth quarter. NEXT Financial Group Inc now owns 34,500 shares of the basic materials company’s stock valued at $130,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Gerdau in the fourth quarter valued at approximately $144,000. Institutional investors own 4.76% of the company’s stock.

Shares of GGB traded down $0.08 during trading hours on Tuesday, hitting $3.97. 5,235,683 shares of the company were exchanged, compared to its average volume of 10,639,625. The firm has a market cap of $6.96 billion, a PE ratio of 44.11, a P/E/G ratio of 0.32 and a beta of 1.95. The company has a quick ratio of 1.43, a current ratio of 2.42 and a debt-to-equity ratio of 0.60. Gerdau has a one year low of $3.37 and a one year high of $5.32.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Monday, March 11th will be issued a dividend of $0.0268 per share. This is a positive change from Gerdau’s previous quarterly dividend of $0.01. This represents a $0.11 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, March 8th. Gerdau’s dividend payout ratio (DPR) is 144.44%.

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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Analyst Recommendations for Gerdau (NYSE:GGB)

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