Fidelity Management & Research Co has recently announced that it has increased stake in Gerdau S.A. ADR (NYSE:GGB) by 187,190.55%. After grabbing 16.47 million shares, the institutional investor is now in possession of 16.46 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 1.42% having worth around $73.45 million. Moreover, Dimensional Fund Advisors LP increased its share by 31027.0 to have a control over 14.01 million shares. And Arrowstreet Capital LP raised its holdings to 11.94 million shares by acquiring 12.83 million shares or 1.11% of the stake.
Gerdau S.A. ADR (GGB) concluded trading on 12/27/23 at a closing price of $4.88, with 3.07 million shares of worth about $14.98 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -5.24% during that period and on Wednesday the price saw a loss of about -0.61%. Currently the company’s common shares owned by public are about 1.15B shares, out of which, 1.15B shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 11 analysts are covering the GGB stock and their offered price forecasts bring an average price target of $29.78. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $35.00 and could fall to a lowest price of $25.00. The stock’s current price level is 19.07% above of average price target set by the analysts, while a rise to estimated low would result in gain of 80.48% for the stock. However, touching the estimated high of $35.00 would mean a gain of 86.06% for the stock.
American Funds New Perspective Fu, American Funds New World Fund, and Fidelity Advisor Focused Emerging are the top 3 mutual funds which are holding stakes in Gerdau S.A. ADR American Funds New Perspective Fu is currently holding 41.24 million shares of worth totaling $183.94 million. The company recently came buying 0.0 shares which brought its stake up to 3.57% of the company’s outstanding shares. American Funds New World Fund sold -12.07 million shares, after which its hold over company’s outstanding shares shrunk to 2.11%, leaving 24.34 million shares with the mutual fund that have a worth of about $108.56 million. Fidelity Advisor Focused Emerging, after buying 9.81 million shares, have now control over 0.85% of the stake in the company. It holds 1.85 million shares of worth $43.76 million.
Gerdau S.A. ADR (NYSE: GGB) started trading at $4.89, below -$0.02 from concluding price of the previous day. However, the stock later moved at a day high price of 4.9200, or with a loss of -0.61%. Stock saw a price change of 3.39% in past 5 days and over the past one month there was a price change of 7.96%. Year-to-date (YTD), GGB shares are showing a performance of -5.59% which decreased to -6.94% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.20 but also hit the highest price of $6.21 during that period. The average intraday trading volume for Gerdau S.A. ADR shares is 5.77 million. The stock is currently trading 5.00% above its 20-day simple moving average (SMA20), while that difference is up 5.93% for SMA50 and it goes to -1.19% lower than SMA200.
Fidelity Management & Research Co acquired 16.47 million shares of Gerdau S.A. ADR having value of about $73.45 million. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 16.46 million shares in the company valued at close to $80323165.2, or have control over 187,190.55% stake in the company. Gerdau S.A. ADR (NYSE: GGB) currently have 1.15B outstanding shares and institutions hold larger chunk of about 24.95% of that. Holding of mutual funds in the company is about 10.96% while other institutional holders and individual stake holders have control over 13.89% and — of the stake respectively.
The stock has a current market capitalization of $5.61B and its 3Y-monthly beta is at 1.73. PE ratio of stock for trailing 12 months is 5.35, while it has posted earnings per share of $0.91 in the same period. It has Quick Ratio of 1.43 while making debt-to-equity ratio of 0.25. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GGB, volatility over the week remained 1.37% while standing at 1.92% over the month.
Analysts are in expectations that Gerdau S.A. ADR (GGB) stock would likely to be making an EPS of $0.18 in the current quarter, while forecast for next quarter EPS is $0 and it is $0.75 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.18 which is $0.18 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.38 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -29.89% while it is estimated to decrease by -30.88% in next year.
Analysts at 11 brokerage firms have issued recommendations for the Gerdau S.A. ADR (GGB)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.27. Out of those 11 Wall Street analysts, 4 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
