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

Shares of Gerdau SA (NYSE:GGB) have been given a consensus rating of “Buy” by the six analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $4.75.

Several analysts have issued reports on GGB shares. HSBC upgraded Gerdau from a “hold” rating to a “buy” rating in a report on Monday, September 17th. Bank of America restated a “buy” rating on shares of Gerdau in a report on Thursday, August 16th. Finally, Zacks Investment Research upgraded Gerdau from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a report on Tuesday, October 16th.

A number of large investors have recently modified their holdings of the business. Capital Growth Management LP grew its holdings in Gerdau by 115.1% in the 3rd quarter. Capital Growth Management LP now owns 20,000,000 shares of the basic materials company’s stock valued at $84,200,000 after buying an additional 10,700,000 shares in the last quarter. Axiom International Investors LLC DE grew its holdings in Gerdau by 13.2% in the 3rd quarter. Axiom International Investors LLC DE now owns 13,096,222 shares of the basic materials company’s stock valued at $55,135,000 after buying an additional 1,528,362 shares in the last quarter. Bank of America Corp DE grew its holdings in Gerdau by 67.9% in the 2nd quarter. Bank of America Corp DE now owns 6,417,573 shares of the basic materials company’s stock valued at $22,719,000 after buying an additional 2,594,615 shares in the last quarter. Man Group plc grew its holdings in Gerdau by 667.3% in the 3rd quarter. Man Group plc now owns 5,844,833 shares of the basic materials company’s stock valued at $24,607,000 after buying an additional 5,083,080 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Gerdau by 112.1% in the 3rd quarter. Fisher Asset Management LLC now owns 4,807,069 shares of the basic materials company’s stock valued at $20,238,000 after purchasing an additional 2,540,235 shares during the last quarter. Institutional investors own 5.58% of the company’s stock.

Shares of GGB traded down $0.17 during trading hours on Friday, hitting $3.89. 251,842 shares of the stock were exchanged, compared to its average volume of 17,478,644. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.43 and a current ratio of 2.42. Gerdau has a 12-month low of $3.23 and a 12-month high of $5.32. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 43.33, a PEG ratio of 0.39 and a beta of 2.19.

The business also recently announced a special dividend, which will be paid on Monday, December 10th. Shareholders of record on Monday, November 26th will be issued a $0.0345 dividend. The ex-dividend date is Friday, November 23rd. Gerdau’s payout ratio is currently 33.33%.

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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