Capital Wealth Planning LLC Purchases New Holdings in Gerdau S.A. (NYSE:GGB)

Capital Wealth Planning LLC bought a new stake in Gerdau S.A. (NYSE:GGB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 444,090 shares of the basic materials company's stock, valued at approximately $1,279,000.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Gerdau by 11.1% in the 3rd quarter. FMR LLC now owns 88,979,025 shares of the basic materials company's stock worth $311,427,000 after purchasing an additional 8,898,975 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Gerdau during the 3rd quarter worth approximately $29,750,000. Two Sigma Advisers LP raised its holdings in Gerdau by 298.1% in the third quarter. Two Sigma Advisers LP now owns 6,097,460 shares of the basic materials company's stock valued at $21,341,000 after buying an additional 4,565,900 shares during the period. Rockefeller Capital Management L.P. lifted its position in Gerdau by 0.3% during the third quarter. Rockefeller Capital Management L.P. now owns 3,332,715 shares of the basic materials company's stock valued at $11,665,000 after buying an additional 11,428 shares in the last quarter. Finally, Itau Unibanco Holding S.A. grew its stake in Gerdau by 170.0% during the third quarter. Itau Unibanco Holding S.A. now owns 2,887,200 shares of the basic materials company's stock worth $10,105,000 after buying an additional 1,817,800 shares during the period. Hedge funds and other institutional investors own 1.49% of the company's stock.

Gerdau Trading Down 0.4 %

Shares of Gerdau stock traded down $0.01 during trading hours on Monday, hitting $2.82. The company's stock had a trading volume of 10,302,463 shares, compared to its average volume of 10,097,621. The business has a fifty day moving average of $2.91 and a 200 day moving average of $3.18. Gerdau S.A. has a 1-year low of $2.67 and a 1-year high of $4.04. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $5.86 billion, a PE ratio of 6.56 and a beta of 1.73.

Gerdau (NYSE:GGB - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Gerdau had a return on equity of 7.74% and a net margin of 7.03%. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.66 billion. As a group, equities analysts forecast that Gerdau S.A. will post 0.46 EPS for the current year.

Gerdau Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a dividend of $0.0175 per share. The ex-dividend date is Friday, March 7th. This represents a $0.07 annualized dividend and a dividend yield of 2.49%. Gerdau's payout ratio is currently 13.95%.

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.