Russell Investments Group Ltd. reduced its stake in Gerdau S.A. (NYSE:GGB - Free Report) by 34.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 441,796 shares of the basic materials company's stock after selling 229,791 shares during the quarter. Russell Investments Group Ltd.'s holdings in Gerdau were worth $1,274,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Gerdau by 48.0% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,803,639 shares of the basic materials company's stock worth $13,834,000 after acquiring an additional 1,557,174 shares in the last quarter. ExodusPoint Capital Management LP purchased a new stake in Gerdau during the 4th quarter worth about $1,631,000. Capital Wealth Planning LLC acquired a new stake in Gerdau in the 4th quarter valued at about $1,279,000. Virtu Financial LLC boosted its stake in shares of Gerdau by 628.4% in the 4th quarter. Virtu Financial LLC now owns 394,173 shares of the basic materials company's stock valued at $1,135,000 after buying an additional 340,055 shares during the period. Finally, Thrivent Financial for Lutherans boosted 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 valued at $1,485,000 after buying an additional 320,404 shares during the period. Hedge funds and other institutional investors own 1.49% of the company's stock.
Gerdau Stock Up 2.5 %
Shares of NYSE GGB traded up $0.06 during mid-day trading on Thursday, reaching $2.65. The company had a trading volume of 8,245,607 shares, compared to its average volume of 9,287,408. The firm has a 50 day simple moving average of $2.79 and a two-hundred day simple moving average of $3.03. Gerdau S.A. has a 52-week low of $2.27 and a 52-week high of $4.04. 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 stock has a market cap of $5.52 billion, a P/E ratio of 6.17 and a beta of 1.37.
Gerdau (NYSE:GGB - Get Free Report) last posted its earnings results on Wednesday, February 19th. The basic materials company reported $0.06 EPS for the quarter, hitting analysts' consensus estimates of $0.06. The business had revenue of $2.88 billion for the quarter, compared to analysts' expectations of $2.66 billion. Gerdau had a return on equity of 7.74% and a net margin of 7.03%. Sell-side analysts predict that Gerdau S.A. will post 0.46 earnings per share for the current year.
Gerdau Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.0175 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.07 dividend on an annualized basis and a yield of 2.64%. Gerdau's dividend payout ratio is presently 13.95%.
Analyst Ratings Changes
Several brokerages recently weighed in on GGB. Bank of America reaffirmed a "neutral" rating on shares of Gerdau in a report on Monday, April 7th. UBS Group started coverage on Gerdau in a report on Wednesday, March 12th. They set a "neutral" rating for the company.
Get Our Latest Stock Analysis on GGB
About Gerdau
(
Free Report)
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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