Gerdau S.A. (NYSE:GGB) Shares Acquired by Fmr LLC

FMR LLC lifted its position in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 10.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,194,996 shares of the basic materials company's stock after buying an additional 9,215,971 shares during the period. FMR LLC owned approximately 4.72% of Gerdau worth $282,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 worth $3,631,000 after acquiring an additional 782,980 shares during the last quarter. HighTower Advisors LLC acquired a new stake in shares of Gerdau during the 3rd quarter worth about $38,000. State Street Corp raised its holdings in Gerdau by 1.4% in 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 buying an additional 40,702 shares during the period. Jane Street Group LLC lifted its position in 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 buying an additional 39,609 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Gerdau during the third quarter worth about $1,741,000. Hedge funds and other institutional investors own 1.49% of the company's stock.

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Gerdau Trading Up 1.6 %

NYSE:GGB traded up $0.04 on Wednesday, reaching $2.54. 8,088,177 shares of the company's stock were exchanged, compared to its average volume of 9,365,652. The business has a fifty day moving average of $2.84 and a 200-day moving average of $3.06. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. Gerdau S.A. has a 52-week low of $2.27 and a 52-week high of $4.04. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 5.91 and a beta of 1.37.

Gerdau (NYSE:GGB - Get Free Report) last released its earnings results 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. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.66 billion. Gerdau had a net margin of 7.03% and a return on equity of 7.74%. As a group, analysts expect 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 dividend of $0.0175 per share. The ex-dividend date was Friday, March 7th. This represents a $0.07 annualized dividend and a yield of 2.76%. Gerdau's dividend payout ratio (DPR) is 13.95%.

Analysts Set New Price Targets

Several brokerages have recently commented on GGB. Bank of America restated a "neutral" rating on shares of Gerdau in a report on Monday, April 7th. UBS Group began coverage on Gerdau in a research report 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.