Posted by admin on Jul 29th, 2022

Truist Financial Corp grew its position in shares of Gerdau S.A. (NYSE:GGB – Get Rating) by 8.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 52,778 shares of the basic materials company’s stock after acquiring an additional 3,891 shares during the quarter. Truist Financial Corp’s holdings in Gerdau were worth $339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. SFG Wealth Management LLC. bought a new stake in shares of Gerdau during the 1st quarter valued at about $121,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Gerdau during the first quarter valued at approximately $128,000. Fractal Investments LLC increased its holdings in Gerdau by 169.8% during the first quarter. Fractal Investments LLC now owns 122,019 shares of the basic materials company’s stock valued at $785,000 after buying an additional 76,800 shares during the last quarter. Cutler Group LP boosted its stake in shares of Gerdau by 43.9% during the 1st quarter. Cutler Group LP now owns 6,796 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 2,074 shares during the last quarter. Finally, Veriti Management LLC boosted its stake in shares of Gerdau by 53.7% during the 1st quarter. Veriti Management LLC now owns 35,004 shares of the basic materials company’s stock worth $225,000 after acquiring an additional 12,230 shares during the last quarter.

NYSE:GGB opened at $4.70 on Friday. Gerdau S.A. has a one year low of $3.94 and a one year high of $6.62. The business has a fifty day moving average price of $4.95 and a 200-day moving average price of $5.37. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 2.69, a price-to-earnings-growth ratio of 0.14 and a beta of 1.64. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.43 and a quick ratio of 1.26.

Gerdau (NYSE:GGB – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The basic materials company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.12). Gerdau had a return on equity of 38.99% and a net margin of 19.44%. The company had revenue of $3.89 billion during the quarter. Sell-side analysts forecast that Gerdau S.A. will post 1.54 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 2nd. Shareholders of record on Wednesday, May 18th were given a $0.116 dividend. This is a positive change from Gerdau’s previous quarterly dividend of $0.04. This represents a $0.46 dividend on an annualized basis and a dividend yield of 9.87%. The ex-dividend date of this dividend was Tuesday, May 17th. Gerdau’s dividend payout ratio is presently 18.86%.

Gerdau SA provides steel products and services. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It offers 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; finished industrial products, including commercial rolled-steel bars, and light profiles and wires; agricultural products that include stakes and smooth wire products; and drawn products comprises barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps.

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