Thrivent Financial for Lutherans Acquires 320,404 Shares of Gerdau S.A. (NYSE:GGB)

Thrivent Financial for Lutherans raised its position in Gerdau S.A. (NYSE:GGB - Free Report) by 164.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 515,417 shares of the basic materials company's stock after buying an additional 320,404 shares during the quarter. Thrivent Financial for Lutherans' holdings in Gerdau were worth $1,485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Advisor Group LLC acquired a new position in Gerdau during the 4th quarter worth approximately $32,000. Wealthfront Advisers LLC acquired a new position in shares of Gerdau during the fourth quarter worth $32,000. Zhang Financial LLC acquired a new position in shares of Gerdau during the fourth quarter worth $34,000. R Squared Ltd bought a new position in shares of Gerdau in the 4th quarter valued at $36,000. Finally, Rehmann Capital Advisory Group acquired a new stake in shares of Gerdau during the 3rd quarter valued at $37,000. 1.49% of the stock is currently owned by institutional investors and hedge funds.

Gerdau Trading Down 2.1 %

NYSE GGB traded down $0.06 on Wednesday, reaching $2.86. The company had a trading volume of 6,862,527 shares, compared to its average volume of 9,725,392. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 6.65 and a beta of 1.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53. Gerdau S.A. has a fifty-two week low of $2.67 and a fifty-two week high of $4.04. The business has a 50 day moving average of $2.94 and a two-hundred day moving average of $3.13.

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Gerdau (NYSE:GGB - Get Free Report) last announced its earnings results on Wednesday, February 19th. The basic materials company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. Gerdau had a return on equity of 7.74% and a net margin of 7.03%. The business had revenue of $2.88 billion for the quarter, compared to analysts' expectations of $2.66 billion. Analysts forecast that Gerdau S.A. will post 0.46 EPS for the current year.

Gerdau Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.0175 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.07 annualized dividend and a yield of 2.45%. Gerdau's payout ratio is 13.95%.

Wall Street Analysts Forecast Growth

Separately, UBS Group assumed coverage on Gerdau in a research report on Wednesday, March 12th. They issued 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.