Gerdau SA (GGB) Given Average Rating of “Hold” by Analysts
Gerdau SA (NYSE:GGB) has been assigned an average recommendation of “Hold” from the six brokerages that are presently covering the stock. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company.
Several research analysts have recently commented on the stock. Scotiabank lowered shares of Gerdau SA from a “sector perform” rating to an “underperform” rating in a report on Tuesday, October 25th. JPMorgan Chase & Co. lowered shares of Gerdau SA from an “overweight” rating to a “neutral” rating in a report on Monday, October 10th. Zacks Investment Research lowered shares of Gerdau SA from a “buy” rating to a “hold” rating in a report on Friday, September 9th. Morgan Stanley raised shares of Gerdau SA from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 18th. Finally, Credit Suisse Group AG raised shares of Gerdau SA from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 4th.
Gerdau SA (NYSE:GGB) opened at 3.87 on Monday. Gerdau SA has a one year low of $0.79 and a one year high of $3.95. The stock’s market capitalization is $6.61 billion. The firm has a 50-day moving average of $3.10 and a 200-day moving average of $2.42.
The company also recently announced a dividend, which will be paid on Thursday, December 8th. Shareholders of record on Friday, November 25th will be paid a dividend of $0.005 per share. The ex-dividend date of this dividend is Tuesday, November 22nd. Gerdau SA’s payout ratio is -2.27%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Credit Suisse AG raised its stake in shares of Gerdau SA by 20.3% in the third quarter. Credit Suisse AG now owns 3,363,843 shares of the company’s stock worth $9,149,000 after buying an additional 568,073 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Gerdau SA by 136.1% in the third quarter. Jane Street Group LLC now owns 2,216,478 shares of the company’s stock worth $6,029,000 after buying an additional 1,277,689 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Gerdau SA during the third quarter worth $2,151,000. Profund Advisors LLC bought a new stake in shares of Gerdau SA during the third quarter worth $255,000. Finally, Morgan Stanley raised its stake in shares of Gerdau SA by 146.4% in the third quarter. Morgan Stanley now owns 9,880,995 shares of the company’s stock worth $26,876,000 after buying an additional 5,870,993 shares in the last quarter. 5.88% of the stock is owned by hedge funds and other institutional investors.
Gerdau SA Company Profile
Gerdau SA (Gerdau) is a manufacturer of long steel in the North and South America. The Company is engaged in the production and commercialization of steel products in general, through its mills located in Argentina, Brazil, Canada, Chile, Colombia, Spain, the United States, Guatemala, India, Mexico, Peru, the Dominican Republic, Uruguay and Venezuela.
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