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

Gerdau SA (NYSE:GGB) has received a consensus rating of “Hold” from the seven research firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company.

Several brokerages have recently issued reports on GGB. Zacks Investment Research downgraded shares of Gerdau from a “hold” rating to a “sell” rating in a report on Wednesday, February 20th. ValuEngine downgraded shares of Gerdau from a “hold” rating to a “sell” rating in a report on Tuesday, February 19th.

Shares of GGB traded down $0.09 during midday trading on Wednesday, hitting $3.64. 11,633,759 shares of the stock traded hands, compared to its average volume of 11,409,132. Gerdau has a 1-year low of $3.37 and a 1-year high of $5.05. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 40.44, a price-to-earnings-growth ratio of 1.18 and a beta of 2.01. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.98 and a current ratio of 2.06.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were issued a $0.0268 dividend. The ex-dividend date was Friday, March 8th. This represents a $0.11 annualized dividend and a yield of 2.95%. This is an increase from Gerdau’s previous quarterly dividend of $0.01. Gerdau’s dividend payout ratio is presently 111.11%.

A number of hedge funds have recently bought and sold shares of GGB. TIAA CREF Investment Management LLC acquired a new stake in Gerdau in the third quarter worth about $5,994,000. AMS Capital Ltda acquired a new stake in Gerdau in the fourth quarter worth about $4,817,000. Bank of America Corp DE lifted its holdings in Gerdau by 16.8% in the fourth quarter. Bank of America Corp DE now owns 8,901,288 shares of the basic materials company’s stock worth $33,468,000 after purchasing an additional 1,279,084 shares during the period. Marshall Wace LLP acquired a new stake in Gerdau in the third quarter worth about $5,096,000. Finally, Windsor Creek Advisors LLC acquired a new stake in Gerdau in the fourth quarter worth about $2,923,000. 7.44% of the stock is owned by institutional investors and hedge funds.

About Gerdau

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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