Gerdau (NYSE:GGB) EVP Mauricio Metz Sells 7,000 Shares

Key Points

• Gerdau EVP Mauricio Metz sold 7,000 shares on June 2 at an average price of $4.85, totaling $33,950. After the sale, he still held 22,536 shares, a 23.7% reduction in his position.
• Metz has been активно selling shares in recent weeks, including multiple earlier transactions in late May and April. Those sales ranged from 1,000 to 5,000 shares each.
• Gerdau recently raised its quarterly dividend to $0.0361 per share, while analysts remain moderately bullish with an average price target of $5.12. The company also missed Q1 earnings and revenue estimates in its latest report.

Gerdau S.A. (NYSE:GGB - Get Free Report) EVP Mauricio Metz sold 7,000 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $4.85, for a total transaction of $33,950.00. Following the completion of the transaction, the executive vice president owned 22,536 shares of the company's stock, valued at approximately $109,299.60. This represents a 23.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Mauricio Metz also recently made the following trade(s):

• On Tuesday, May 26th, Mauricio Metz sold 5,000 shares of Gerdau stock. The shares were sold at an average price of $4.70, for a total transaction of $23,500.00.
• On Wednesday, May 13th, Mauricio Metz sold 5,000 shares of Gerdau stock. The shares were sold at an average price of $4.85, for a total transaction of $24,250.00.
• On Tuesday, May 5th, Mauricio Metz sold 2,000 shares of Gerdau stock. The shares were sold at an average price of $4.69, for a total transaction of $9,380.00.
• On Tuesday, April 28th, Mauricio Metz sold 1,000 shares of Gerdau stock. The shares were sold at an average price of $4.53, for a total transaction of $4,530.00.
• On Friday, April 10th, Mauricio Metz sold 1,000 shares of Gerdau stock. The shares were sold at an average price of $4.24, for a total transaction of $4,240.00.

Gerdau Price Performance

Shares of GGB stock traded down $0.14 during mid-day trading on Wednesday, reaching $4.76. The company's stock had a trading volume of 26,473,292 shares, compared to its average volume of 19,782,209. The company has a market cap of $9.51 billion, a P/E ratio of 29.72 and a beta of 1.48. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 2.76. The firm's 50-day moving average is $4.27 and its two-hundred day moving average is $4.00. Gerdau S.A. has a 1-year low of $2.80 and a 1-year high of $4.98.

Gerdau (NYSE:GGB - Get Free Report) last announced its earnings results on Tuesday, April 28th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.05). The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.36 billion. Gerdau had a return on equity of 6.76% and a net margin of 2.40%. On average, research analysts predict that Gerdau S.A. will post 0.5 earnings per share for the current year.

Gerdau Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Friday, May 15th will be given a dividend of $0.0361 per share. This is an increase from Gerdau's previous quarterly dividend of $0.02. The ex-dividend date is Friday, May 15th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 3.0%. Gerdau's dividend payout ratio is 75.00%.

Hedge Funds Weigh In On Gerdau

Institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Gerdau by 68.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,634 shares of the basic materials company's stock worth $28,000 after buying an additional 3,931 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Gerdau by 95.3% during the second quarter. EverSource Wealth Advisors LLC now owns 10,687 shares of the basic materials company's stock worth $31,000 after purchasing an additional 5,216 shares during the period. Wealthstream Advisors Inc. bought a new position in Gerdau during the third quarter worth $32,000. Aster Capital Management DIFC Ltd bought a new position in Gerdau during the third quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Gerdau during the third quarter worth $34,000. 1.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GGB shares. Weiss Ratings restated a "hold (c)" rating on shares of Gerdau in a research report on Friday, March 27th. JPMorgan Chase & Co. lifted their price objective on shares of Gerdau from $5.00 to $5.50 and gave the stock an "overweight" rating in a research note on Monday, April 13th. UBS Group reissued a "buy" rating and set a $5.25 price objective (up from $4.60) on shares of Gerdau in a research note on Wednesday, April 29th. Itau BBA Securities raised shares of Gerdau from a "market perform" rating to an "outperform" rating and set a $4.60 price target on the stock in a research note on Wednesday, April 1st. Finally, Scotiabank raised shares of Gerdau from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $5.12.

About Gerdau

Gerdau SA is a Brazilian-based steel producer engaged in the manufacture and distribution of long steel products for the construction, industrial and agricultural sectors. Established in 1901, the company operates an integrated network of electric-arc furnaces and rolling mills, producing reinforcement bars, wire rod, merchant bars and structural shapes. Gerdau's product portfolio also includes specialty long steel, high-yield reinforcement, rail, beams and steel coils, as well as value-added processing services such as cutting, bending and coating.

The company has expanded its footprint beyond Brazil, with significant operations in North America, South America and a presence in select European markets.

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