Commonwealth Fairness Providers LLC elevated its holdings in shares of Gerdau S.A. (NYSE:GGB – Free Report) by 1,706.6% within the 2nd quarter, in keeping with its most up-to-date disclosure with the Securities and Change Fee. The fund owned 288,519 shares of the fundamental supplies firm’s inventory after buying a further 272,549 shares throughout the quarter. Commonwealth Fairness Providers LLC’s holdings in Gerdau have been value $952,000 as of its most up-to-date SEC submitting.
Quite a few different hedge funds have additionally added to or decreased their stakes in GGB. Ballentine Companions LLC purchased a brand new stake in shares of Gerdau within the 1st quarter valued at about $44,000. Prosperity Consulting Group LLC purchased a brand new place in shares of Gerdau throughout the 1st quarter value roughly $53,000. KCM Funding Advisors LLC acquired a brand new place in shares of Gerdau within the first quarter valued at $54,000. IPG Funding Advisors LLC purchased a brand new stake in shares of Gerdau throughout the 4th quarter value about $55,000. Lastly, Abacus Wealth Companions LLC acquired a brand new stake in shares of Gerdau throughout the first quarter value $59,000. Institutional traders personal 1.49% of the corporate’s inventory.
Analysts Set New Value Targets
Individually, Financial institution of America raised shares of Gerdau from a “impartial” ranking to a “purchase” ranking and upped their worth goal for the inventory from $4.50 to $5.00 in a report on Friday, Could twenty fourth.
Examine Out Our Newest Evaluation on GGB
Gerdau Value Efficiency
GGB inventory opened at $3.37 on Wednesday. The corporate has a market capitalization of $7.11 billion, a P/E ratio of 5.52 and a beta of 1.74. Gerdau S.A. has a 52-week low of $2.92 and a 52-week excessive of $4.38. The corporate has a fifty day shifting common worth of $3.26 and a 200-day shifting common worth of $3.40. The corporate has a debt-to-equity ratio of 0.21, a fast ratio of 1.36 and a present ratio of two.83.
Gerdau (NYSE:GGB – Get Free Report) final issued its quarterly earnings outcomes on Wednesday, July thirty first. The essential supplies firm reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. Gerdau had a return on fairness of 8.43% and a web margin of seven.88%. The agency had income of $3.19 billion for the quarter, in comparison with analyst estimates of $3.01 billion. As a gaggle, equities analysts count on that Gerdau S.A. will publish 0.53 EPS for the present yr.
Gerdau Will increase Dividend
The enterprise additionally not too long ago declared a quarterly dividend, which was paid on Tuesday, August twenty seventh. Stockholders of document on Tuesday, August thirteenth have been paid a dividend of $0.055 per share. The ex-dividend date of this dividend was Tuesday, August thirteenth. This represents a $0.22 annualized dividend and a dividend yield of 6.53%. It is a constructive change from Gerdau’s earlier quarterly dividend of $0.06. Gerdau’s dividend payout ratio (DPR) is presently 13.11%.
About Gerdau
Gerdau SA, along with its subsidiaries, operates as a metal producer firm. The corporate operates via Brazil Enterprise, North America Enterprise, South America Enterprise, and Particular Metal Enterprise segments. It additionally gives semi-finished merchandise, together with billets, blooms, and slabs; frequent lengthy rolled merchandise, akin to rebars, wire rods, service provider bars, mild shapes, and profiles to the development and manufacturing industries; drawn merchandise comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, development, and agricultural industries; and particular metal merchandise utilized in auto elements, mild and heavy autos, and agricultural equipment, in addition to within the oil and gasoline, wind power, equipment and gear, mining and rail, and different markets.
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