Renaissance Technologies LLC Has $16.15 Million Stock Holdings in Gerdau S.A. (NYSE:GGB)

Renaissance Technologies LLC boosted its stake in Gerdau S.A. (NYSE:GGB - Free Report) by 138.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,606,824 shares of the basic materials company's stock after acquiring an additional 3,257,463 shares during the quarter. Renaissance Technologies LLC owned 0.27% of Gerdau worth $16,148,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in GGB. FMR LLC lifted its stake in Gerdau by 10.4% during the fourth quarter. FMR LLC now owns 98,194,996 shares of the basic materials company's stock worth $282,802,000 after purchasing an additional 9,215,971 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of Gerdau by 48.0% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,803,639 shares of the basic materials company's stock valued at $13,834,000 after acquiring an additional 1,557,174 shares during the period. ExodusPoint Capital Management LP acquired a new position in Gerdau in the 4th quarter valued at about $1,631,000. Public Employees Retirement System of Ohio purchased a new position in Gerdau during the 3rd quarter worth $1,741,000. Finally, Capital Wealth Planning LLC purchased a new position in shares of Gerdau during the 4th quarter worth approximately $1,279,000. Institutional investors and hedge funds own 1.49% of the company's stock.

Gerdau Price Performance

Shares of NYSE GGB traded up $0.02 during midday trading on Friday, reaching $2.54. The company's stock had a trading volume of 6,140,405 shares, compared to its average volume of 9,338,241. The company has a 50 day moving average price of $2.83 and a 200 day moving average price of $3.05. The company has a market cap of $5.27 billion, a price-to-earnings ratio of 5.90 and a beta of 1.37. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. Gerdau S.A. has a one year low of $2.27 and a one year high of $4.04.

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 for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.66 billion. Gerdau had a return on equity of 7.74% and a net margin of 7.03%. On average, equities research analysts expect that Gerdau S.A. will post 0.46 EPS 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 given a $0.0175 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 2.77%. Gerdau's dividend payout ratio is currently 13.95%.

Wall Street Analyst Weigh In

GGB has been the topic of several research reports. UBS Group started coverage on shares of Gerdau in a research report on Wednesday, March 12th. They issued a "neutral" rating on the stock. Bank of America restated a "neutral" rating on shares of Gerdau in a research report on Monday, April 7th.

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.