Gerdau (NYSE:GGB) Now Covered by Analysts at UBS Group

UBS Group began coverage on shares of Gerdau (NYSE:GGB) in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm issued a neutral rating on the basic materials company’s stock.

Gerdau Stock Performance

NYSE GGB opened at $2.82 on Wednesday. The business’s 50-day moving average price is $2.91 and its 200 day moving average price is $3.16. Gerdau has a twelve month low of $2.67 and a twelve month high of $4.04. The company has a market capitalization of $5.85 billion, a PE ratio of 6.55 and a beta of 1.69. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21.

Gerdau (NYSE:GGB) last released its earnings results on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Gerdau had a return on equity of 7.74% and a net margin of 7.03%. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.66 billion. On average, research analysts predict that Gerdau will post 0.46 earnings per share for the current year.

Gerdau Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a dividend of $0.0175 per share. The ex-dividend date is Friday, March 7th. This represents a $0.07 annualized dividend and a yield of 2.49%. Gerdau’s dividend payout ratio (DPR) is presently 13.95%.

Hedge Funds Weigh In On Gerdau

Large investors have recently modified their holdings of the company. Private Advisor Group LLC purchased a new position in shares of Gerdau in the 4th quarter worth about $32,000. Wealthfront Advisers LLC purchased a new position in shares of Gerdau in the 4th quarter worth about $32,000. Zhang Financial LLC purchased a new position in shares of Gerdau in the 4th quarter worth about $34,000. R Squared Ltd purchased a new position in shares of Gerdau in the 4th quarter worth about $36,000. Finally, Rehmann Capital Advisory Group purchased a new position in shares of Gerdau in the 3rd quarter worth about $37,000. 1.49% of the stock is currently owned by hedge funds and other institutional investors.

Gerdau Company Profile

Gerdau SA, together with its subsidiaries, operates as a steel producer company. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It also provides semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles to the construction and manufacturing industries; drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries; and special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as in the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets.