Gerdau (NYSE:GGB) Shares Gap Up to $3.59

Gerdau SA (NYSE:GGB) gapped up before the market opened on Tuesday . The stock had previously closed at $3.49, but opened at $3.59. Gerdau shares last traded at $3.72, with a volume of 11125442 shares changing hands.

A number of equities research analysts have weighed in on GGB shares. Zacks Investment Research raised shares of Gerdau from a “sell” rating to a “hold” rating in a report on Monday, May 13th. ValuEngine upgraded shares of Gerdau from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 28th. Finally, TheStreet upgraded shares of Gerdau from a “c” rating to a “b-” rating in a report on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $4.50.

The firm has a market capitalization of $6.51 billion, a PE ratio of 9.38, a PEG ratio of 3.22 and a beta of 1.82. The company has a current ratio of 1.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48.

Gerdau (NYSE:GGB) last posted its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Gerdau had a return on equity of 9.49% and a net margin of 5.03%. As a group, analysts anticipate that Gerdau SA will post 0.37 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were issued a $0.0176 dividend. This represents a $0.07 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Tuesday, May 21st. Gerdau’s dividend payout ratio (DPR) is currently 17.50%.

Several hedge funds have recently made changes to their positions in the company. Eqis Capital Management Inc. bought a new stake in Gerdau in the first quarter valued at about $45,000. Nuveen Asset Management LLC acquired a new position in shares of Gerdau during the fourth quarter worth approximately $49,000. GSA Capital Partners LLP acquired a new position in shares of Gerdau during the fourth quarter worth approximately $72,000. First Trust Advisors LP acquired a new position in shares of Gerdau during the fourth quarter worth approximately $92,000. Finally, NEXT Financial Group Inc boosted its position in shares of Gerdau by 9.5% during the fourth quarter. NEXT Financial Group Inc now owns 34,500 shares of the basic materials company’s stock worth $130,000 after buying an additional 3,000 shares during the period. Hedge funds and other institutional investors own 7.09% of the company’s stock.

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Gerdau Company Profile (NYSE:GGB)

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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