Comerica Bank cut its stake in shares of Gerdau SA (NYSE:GGB) by 6.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 62,310 shares of the basic materials company’s stock after selling 4,599 shares during the period. Comerica Bank’s holdings in Gerdau were worth $254,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in GGB. Eqis Capital Management Inc. bought a new stake in shares of Gerdau in the 1st quarter worth $45,000. Nuveen Asset Management LLC bought a new stake in shares of Gerdau in the 4th quarter worth $49,000. GSA Capital Partners LLP bought a new stake in shares of Gerdau in the 4th quarter worth $72,000. First Trust Advisors LP bought a new stake in shares of Gerdau in the 4th quarter worth $92,000. Finally, NEXT Financial Group Inc grew its stake in shares of Gerdau by 9.5% in the 4th quarter. NEXT Financial Group Inc now owns 34,500 shares of the basic materials company’s stock worth $130,000 after acquiring an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 7.09% of the company’s stock.
A number of equities analysts recently weighed in on GGB shares. TheStreet raised shares of Gerdau from a “c” rating to a “b-” rating in a report on Tuesday, June 4th. Zacks Investment Research raised shares of Gerdau from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Finally, ValuEngine raised shares of Gerdau from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 28th. 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’s stock. The company has a consensus rating of “Buy” and a consensus price target of $4.50.
NYSE GGB opened at $3.72 on Wednesday. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 3.06 and a beta of 1.81. Gerdau SA has a 52 week low of $3.28 and a 52 week high of $4.71. 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 released its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.01). Gerdau had a net margin of 5.03% and a return on equity of 9.49%. The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.86 billion. On average, analysts anticipate that Gerdau SA will post 0.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were issued a $0.0176 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Tuesday, May 21st. Gerdau’s payout ratio is 17.50%.
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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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