Virtu Financial LLC Acquires 340,055 Shares of Gerdau S.A. (NYSE:GGB)

Virtu Financial LLC grew its holdings in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 628.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 394,173 shares of the basic materials company's stock after acquiring an additional 340,055 shares during the quarter. Virtu Financial LLC's holdings in Gerdau were worth $1,135,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rehmann Capital Advisory Group bought a new position in Gerdau in the 3rd quarter valued at approximately $37,000. Private Advisor Group LLC acquired a new stake in shares of Gerdau during the fourth quarter valued at about $32,000. Wealthfront Advisers LLC acquired a new stake in Gerdau during the 4th quarter worth approximately $32,000. HighTower Advisors LLC bought a new stake in Gerdau during the 3rd quarter worth approximately $38,000. Finally, Zhang Financial LLC bought a new position in shares of Gerdau during the fourth quarter valued at $34,000. Institutional investors own 1.49% of the company's stock.

Gerdau Stock Down 1.2 %

GGB stock traded down $0.04 during midday trading on Thursday, reaching $3.00. 6,510,508 shares of the company's stock traded hands, compared to its average volume of 9,009,891. 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 fifty day moving average price is $2.94 and its 200-day moving average price is $3.14. Gerdau S.A. has a 52 week low of $2.67 and a 52 week high of $4.04. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 6.97 and a beta of 1.69.

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Gerdau (NYSE:GGB - Get Free Report) last posted its earnings results on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share 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 company had revenue of $2.88 billion for the quarter, compared to analyst estimates 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 fiscal year.

Gerdau Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.0175 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Friday, March 7th. Gerdau's payout ratio is 13.95%.

Wall Street Analyst Weigh In

Separately, UBS Group began coverage on shares of Gerdau in a report on Wednesday, March 12th. They issued a "neutral" rating on the stock.

Gerdau Company 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.