EverSource Wealth Advisors LLC Has $79,000 Holdings in Gerdau S.A. (NYSE:GGB)

EverSource Wealth Advisors LLC raised its position in Gerdau S.A. (NYSE:GGB) by 97.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 17,905 shares of the basic materials company’s stock after purchasing an additional 8,826 shares during the period. EverSource Wealth Advisors LLC’s holdings in Gerdau were worth $79,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Ballentine Partners LLC bought a new stake in Gerdau in the first quarter valued at $44,000. IPG Investment Advisors LLC acquired a new position in Gerdau during the 4th quarter worth approximately $55,000. Prosperity Consulting Group LLC bought a new position in Gerdau in the first quarter worth approximately $53,000. KCM Investment Advisors LLC acquired a new stake in Gerdau in the first quarter valued at approximately $54,000. Finally, Abacus Wealth Partners LLC bought a new stake in shares of Gerdau during the first quarter valued at approximately $59,000. 1.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GGB shares. JPMorgan Chase & Co. raised shares of Gerdau from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $4.17 to $5.00 in a research report on Monday, April 15th. Bank of America raised shares of Gerdau from a “neutral” rating to a “buy” rating and raised their price target for the company from $4.50 to $5.00 in a research report on Friday, May 24th.

Gerdau Stock Performance

Shares of GGB traded up $0.03 on Tuesday, reaching $3.05. 6,053,368 shares of the company’s stock traded hands, compared to its average volume of 8,027,437. The stock’s 50 day simple moving average is $3.28 and its two-hundred day simple moving average is $3.47. The stock has a market cap of $6.43 billion, a PE ratio of 4.90 and a beta of 1.76. Gerdau S.A. has a 52-week low of $2.92 and a 52-week high of $4.70. The company has a current ratio of 2.83, a quick ratio of 1.29 and a debt-to-equity ratio of 0.21.

Gerdau (NYSE:GGB) last announced its earnings results on Friday, May 3rd. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.22 billion. Gerdau had a return on equity of 8.43% and a net margin of 7.88%. On average, analysts forecast that Gerdau S.A. will post 0.49 earnings per share for the current fiscal year.

Gerdau Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be given a $0.055 dividend. This is a positive change from Gerdau’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, August 13th. This represents a $0.22 annualized dividend and a yield of 7.21%. Gerdau’s payout ratio is currently 13.11%.

Gerdau 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.