Gerdau SA (NYSE:GGB) has received an average rating of “Buy” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company.
GGB has been the subject of several research reports. HSBC raised shares of Gerdau from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. Bank of America reissued a “buy” rating on shares of Gerdau in a research note on Thursday, August 16th. Finally, Morgan Stanley raised shares of Gerdau from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, June 5th.
Institutional investors have recently bought and sold shares of the company. Stevens Capital Management LP purchased a new stake in shares of Gerdau in the 2nd quarter valued at approximately $170,000. HRT Financial LLC purchased a new stake in shares of Gerdau in the 2nd quarter valued at approximately $177,000. Credit Agricole S A grew its stake in shares of Gerdau by 145.3% in the 2nd quarter. Credit Agricole S A now owns 73,600 shares of the basic materials company’s stock valued at $260,000 after buying an additional 43,600 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Gerdau in the 1st quarter valued at approximately $378,000. Finally, Newfoundland Capital Management purchased a new stake in shares of Gerdau in the 1st quarter valued at approximately $466,000. 4.50% of the stock is owned by institutional investors and hedge funds.
Gerdau (NYSE:GGB) last announced its quarterly earnings data on Wednesday, August 8th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter. Gerdau had a negative net margin of 0.43% and a positive return on equity of 6.25%. The company had revenue of $3.35 billion during the quarter. equities analysts forecast that Gerdau will post 0.39 earnings per share for the current year.
The company also recently declared a special dividend, which was paid on Monday, September 10th. Stockholders of record on Friday, August 24th were paid a $0.0373 dividend. This is a boost from Gerdau’s previous special dividend of $0.02. The ex-dividend date was Thursday, August 23rd. This represents a dividend yield of 1.96%. Gerdau’s dividend payout ratio is 55.56%.
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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