Capital International Sarl Sells 887,740 Shares of Gerdau S.A. (NYSE:GGB)

Capital International Sarl trimmed its holdings in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 51.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 845,688 shares of the basic materials company's stock after selling 887,740 shares during the period. Capital International Sarl's holdings in Gerdau were worth $2,436,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. HighTower Advisors LLC purchased a new position in shares of Gerdau in the third quarter worth approximately $38,000. State Street Corp raised its stake in Gerdau by 1.4% during the 3rd quarter. State Street Corp now owns 2,865,244 shares of the basic materials company's stock valued at $10,028,000 after purchasing an additional 40,702 shares during the period. Jane Street Group LLC lifted its holdings in shares of Gerdau by 11.5% in the third quarter. Jane Street Group LLC now owns 385,068 shares of the basic materials company's stock valued at $1,348,000 after purchasing an additional 39,609 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Gerdau in the third quarter worth $189,000. Finally, Tidal Investments LLC purchased a new position in shares of Gerdau during the third quarter valued at $525,000. Institutional investors and hedge funds own 1.49% of the company's stock.

Gerdau Stock Performance

GGB traded up $0.06 during midday trading on Thursday, reaching $2.65. The company's stock had a trading volume of 5,323,785 shares, compared to its average volume of 10,135,183. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $2.79 and a 200 day simple moving average of $3.03. The stock has a market cap of $5.50 billion, a P/E ratio of 6.15 and a beta of 1.37. Gerdau S.A. has a twelve month low of $2.27 and a twelve month high of $4.04.

Gerdau (NYSE:GGB - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.06 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 analysts' expectations of $2.66 billion. Research analysts expect that Gerdau S.A. will post 0.46 earnings per share for the current year.

Gerdau Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.0175 dividend. This represents a $0.07 annualized dividend and a yield of 2.65%. The ex-dividend date was Friday, March 7th. Gerdau's dividend payout ratio (DPR) is presently 13.95%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GGB. Bank of America reaffirmed a "neutral" rating on shares of Gerdau in a research report on Monday, April 7th. UBS Group began coverage on shares of Gerdau in a report on Wednesday, March 12th. They set a "neutral" rating on the stock.

About Gerdau

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.