In the latest trading session, 1.38 million Gerdau S.A. ADR (NYSE:GGB) shares changed hands as the company’s beta touched 1.73. With the company’s most recent per share price at $4.38 changing hands around $0.11 or 2.58% at last look, the market valuation stands at $5.03B. GGB’s current price is a discount, trading about -37.9% off its 52-week high of $6.04. The share price had its 52-week low at $4.11, which suggests the last value was 6.16% up since then. When we look at Gerdau S.A. ADR’s average trading volume, we note the 10-day average is 6.79 million shares, with the 3-month average coming to 6.07 million.
Gerdau S.A. ADR (NYSE:GGB) trade information
Instantly GGB is in green as seen in intraday trades today. With action 0.46%, the performance over the past five days has been green. The jump to weekly highs of 4.43 added 2.58% to the stock’s daily price. The company’s shares are showing year-to-date downside of -9.69%, with the 5-day performance at 0.46% in the green. However, in the 30-day time frame, Gerdau S.A. ADR (NYSE:GGB) is 0.69% up. Looking at the short shares, we see there were 2.94 million shares sold at short interest cover period of 0.79 days.
Gerdau S.A. ADR (GGB) estimates and forecasts
Data shows that the Gerdau S.A. ADR share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -8.15% over the past 6 months, a -30.47% in annual growth rate that is considerably lower than the industry average of -10.70%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Gerdau S.A. ADR will fall -53.60%, while the growth in revenue is estimated to hit -41.70% for the next quarter. Year-over-year growth is forecast to reach -2.70% down from the last financial year.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 19.49%. The 2024 estimates are for Gerdau S.A. ADR earnings to decrease by -43.51%, but the outlook for the next 5-year period is at -3.46% per year.
GGB Dividends
Gerdau S.A. ADR is expected to release its next quarterly earnings report in April. The 0.46% annual yield figure for the share gives it an annual dividend of 0.02. It is important to note, however, that the 0.46% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Gerdau S.A. ADR (NYSE:GGB)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.00% of Gerdau S.A. ADR shares while 25.07% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 25.07%. There are 25.07% institutions holding the Gerdau S.A. ADR stock share, with Capital International Investors the top institutional holder. As of Jun 29, 2023, the company held 8.49% of the shares, roughly 98.25 million GGB shares worth $512.84 million.
Acadian Asset Management. LLC holds the second largest percentage of outstanding shares, with 2.28% or 26.4 million shares worth $137.78 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were New Perspective Fund Inc and New World Fund, Inc. With 41.24 million shares estimated at $215.29 million under it, the former controlled 3.57% of total outstanding shares. On the other hand, New World Fund, Inc. held about 3.15% of the shares, roughly 36.41 million shares worth around $223.92 million.
