Jump Financial LLC Cuts Stake in Gerdau S.A. (NYSE:GGB)

Jump Financial LLC lessened its stake in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 68.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 264,409 shares of the basic materials company's stock after selling 584,547 shares during the period. Jump Financial LLC's holdings in Gerdau were worth $761,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GGB. Private Advisor Group LLC purchased a new stake in Gerdau in the 4th quarter worth about $32,000. Wealthfront Advisers LLC bought a new position in Gerdau during the fourth quarter worth about $32,000. Zhang Financial LLC purchased a new position in shares of Gerdau in the fourth quarter worth about $34,000. R Squared Ltd bought a new stake in shares of Gerdau in the fourth quarter valued at approximately $36,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Gerdau during the 3rd quarter valued at approximately $38,000. Institutional investors own 1.49% of the company's stock.

Gerdau Price Performance

GGB stock opened at $2.57 on Wednesday. The firm has a 50 day moving average of $2.80 and a 200-day moving average of $3.03. 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 firm has a market capitalization of $5.34 billion, a P/E ratio of 5.98 and a beta of 1.37. Gerdau S.A. has a 12 month low of $2.27 and a 12 month high of $4.04.

Gerdau (NYSE:GGB - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.06 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 firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.66 billion. As a group, sell-side analysts predict that Gerdau S.A. will post 0.46 earnings per share for the current fiscal year.

Gerdau Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $0.0175 per share. The ex-dividend date was Friday, March 7th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 2.73%. Gerdau's dividend payout ratio (DPR) is presently 13.95%.

Wall Street Analysts Forecast Growth

GGB has been the subject of a number of recent research reports. UBS Group initiated coverage on shares of Gerdau in a research note on Wednesday, March 12th. They issued a "neutral" rating for the company. Bank of America reiterated a "neutral" rating on shares of Gerdau in a research note on Monday, April 7th.

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.

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