Capital Group Investment Management PTE. LTD. Sells 155,831 Shares of Gerdau S.A. (NYSE:GGB)

Capital Group Investment Management PTE. LTD. decreased its position in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 54.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,150 shares of the basic materials company's stock after selling 155,831 shares during the period. Capital Group Investment Management PTE. LTD.'s holdings in Gerdau were worth $375,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GGB. Private Advisor Group LLC bought a new position in shares of Gerdau during the fourth quarter worth approximately $32,000. Wealthfront Advisers LLC bought a new position in Gerdau in the 4th quarter valued at approximately $32,000. HighTower Advisors LLC acquired a new position in shares of Gerdau in the 3rd quarter worth approximately $38,000. Zhang Financial LLC bought a new position in Gerdau during the fourth quarter worth $34,000. Finally, R Squared Ltd acquired a new stake in Gerdau in the fourth quarter worth $36,000. Institutional investors and hedge funds own 1.49% of the company's stock.

Analysts Set New Price Targets

GGB has been the topic of several research reports. UBS Group initiated coverage on shares of Gerdau in a report on Wednesday, March 12th. They set a "neutral" rating on the stock. Bank of America reaffirmed a "neutral" rating on shares of Gerdau in a research note on Monday, April 7th.

Gerdau Stock Up 1.9 %

Shares of Gerdau stock traded up $0.05 on Wednesday, hitting $2.62. The company had a trading volume of 6,490,124 shares, compared to its average volume of 9,273,949. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 6.09 and a beta of 1.37. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.98. Gerdau S.A. has a 1 year low of $2.27 and a 1 year high of $4.04. The stock has a 50 day moving average of $2.80 and a 200-day moving average of $3.03.

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

Gerdau Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $0.0175 per share. The ex-dividend date was Friday, March 7th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 2.68%. Gerdau's dividend payout ratio is presently 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.