Daiwa Securities Group Inc. Reduces Holdings in Gerdau S.A. (NYSE:GGB)

Daiwa Securities Group Inc. lessened its holdings in Gerdau S.A. (NYSE:GGB - Free Report) by 50.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,536 shares of the basic materials company's stock after selling 155,022 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Gerdau were worth $445,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GGB. Abacus Wealth Partners LLC boosted its stake in Gerdau by 34.4% in the fourth quarter. Abacus Wealth Partners LLC now owns 23,076 shares of the basic materials company's stock valued at $66,000 after acquiring an additional 5,903 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Gerdau by 10.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,116 shares of the basic materials company's stock worth $204,000 after buying an additional 6,555 shares during the period. Rehmann Capital Advisory Group acquired a new stake in shares of Gerdau during the third quarter worth about $37,000. Private Advisor Group LLC acquired a new stake in shares of Gerdau during the fourth quarter worth about $32,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Gerdau during the third quarter worth about $38,000. Hedge funds and other institutional investors own 1.49% of the company's stock.

Gerdau Stock Performance

NYSE GGB traded down $0.02 during trading hours on Thursday, hitting $3.04. 6,032,316 shares of the stock were exchanged, compared to its average volume of 9,027,113. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 7.06 and a beta of 1.69. Gerdau S.A. has a 12-month low of $2.67 and a 12-month high of $4.04. The stock has a 50-day moving average of $2.92 and a 200 day moving average of $3.15. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21.

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Gerdau (NYSE:GGB - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $2.88 billion during the quarter, compared to analysts' expectations of $2.66 billion. Gerdau had a net margin of 7.03% and a return on equity of 7.74%. As a group, equities research 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 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 of this dividend is Friday, March 7th. This represents a $0.07 annualized dividend and a yield of 2.31%. Gerdau's dividend payout ratio is currently 13.95%.

Analyst Ratings Changes

Separately, UBS Group initiated coverage on shares of Gerdau in a research note on Wednesday, March 12th. They set a "neutral" rating for the company.

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.