Gerdau S.A. (NYSE:GGB) has been given an average rating of “Hold” by the six ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company.

Several equities research analysts have commented on GGB shares. Scotiabank upgraded shares of Gerdau from an “underperform” rating to a “sector perform” rating in a research report on Friday, June 9th. BidaskClub raised Gerdau from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. Finally, Zacks Investment Research raised Gerdau from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a research note on Tuesday, June 27th.

A number of institutional investors have recently added to or reduced their stakes in the stock. Fairpointe Capital LLC raised its stake in Gerdau by 2.4% in the second quarter. Fairpointe Capital LLC now owns 22,079,702 shares of the basic materials company’s stock worth $67,344,000 after buying an additional 525,065 shares in the last quarter. Vanguard Group Inc. increased its position in Gerdau by 9.2% in the second quarter. Vanguard Group Inc. now owns 11,418,488 shares of the basic materials company’s stock worth $34,826,000 after buying an additional 958,540 shares in the last quarter. BT Investment Management Ltd bought a new position in Gerdau during the second quarter worth $32,817,000. Banco BTG Pactual S.A. bought a new position in Gerdau during the first quarter worth $27,600,000. Finally, JPMorgan Chase & Co. increased its position in Gerdau by 18.1% in the second quarter. JPMorgan Chase & Co. now owns 6,863,955 shares of the basic materials company’s stock worth $20,934,000 after buying an additional 1,052,535 shares in the last quarter. 5.04% of the stock is currently owned by hedge funds and other institutional investors.

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Gerdau (NYSE GGB) traded down 1.65% during mid-day trading on Tuesday, hitting $3.58. 4,315,096 shares of the stock were exchanged. Gerdau has a 52-week low of $2.47 and a 52-week high of $4.39. The company has a 50 day moving average price of $3.45 and a 200 day moving average price of $3.37. The firm’s market cap is $6.12 billion.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Thursday, August 24th will be paid a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Tuesday, August 22nd.

Gerdau 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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