ExodusPoint Capital Management LP Makes New Investment in Gerdau S.A. (NYSE:GGB)

ExodusPoint Capital Management LP purchased a new position in Gerdau S.A. (NYSE:GGB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 566,425 shares of the basic materials company's stock, valued at approximately $1,631,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Gerdau by 307.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,037,480 shares of the basic materials company's stock valued at $3,631,000 after purchasing an additional 782,980 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Gerdau by 164.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 515,417 shares of the basic materials company's stock worth $1,485,000 after purchasing an additional 320,404 shares in the last quarter. State Street Corp grew its holdings in Gerdau by 1.4% during the third 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. Pacer Advisors Inc. grew its stake in shares of Gerdau by 8.5% during the 4th quarter. Pacer Advisors Inc. now owns 208,977 shares of the basic materials company's stock valued at $602,000 after acquiring an additional 16,313 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Gerdau during the third quarter valued at approximately $1,741,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

Gerdau Trading Up 2.8 %

NYSE:GGB traded up $0.07 during mid-day trading on Monday, hitting $2.54. 1,773,552 shares of the stock traded hands, compared to its average volume of 9,396,060. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 5.91 and a beta of 1.37. 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 firm's 50 day moving average is $2.86 and its two-hundred day moving average is $3.07. Gerdau S.A. has a 52 week low of $2.27 and a 52 week high of $4.04.

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

Gerdau Cuts Dividend

The business 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 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Friday, March 7th. Gerdau's payout ratio is presently 13.95%.

Analysts Set New Price Targets

GGB has been the topic of several recent analyst reports. UBS Group initiated coverage on Gerdau in a research note 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 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.