Walleye Capital LLC Has $5.57 Million Position in Gerdau S.A. (NYSE:GGB)

Walleye Capital LLC raised its stake in Gerdau S.A. (NYSE:GGB - Free Report) by 49.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,935,021 shares of the basic materials company's stock after buying an additional 639,095 shares during the quarter. Walleye Capital LLC owned 0.09% of Gerdau worth $5,573,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GGB. HighTower Advisors LLC bought a new stake in shares of Gerdau in the 3rd quarter valued at $38,000. State Street Corp increased its holdings in shares of Gerdau by 1.4% in the third quarter. State Street Corp now owns 2,865,244 shares of the basic materials company's stock worth $10,028,000 after acquiring an additional 40,702 shares in the last quarter. Jane Street Group LLC raised its position in shares of Gerdau by 11.5% during the third quarter. Jane Street Group LLC now owns 385,068 shares of the basic materials company's stock worth $1,348,000 after purchasing an additional 39,609 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Gerdau during the 3rd quarter valued at about $1,741,000. Finally, Virtu Financial LLC acquired a new position in shares of Gerdau in the 3rd quarter valued at approximately $189,000. Institutional investors own 1.49% of the company's stock.

Analyst Ratings Changes

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

Gerdau Stock Up 0.6 %

Shares of GGB stock traded up $0.02 on Friday, hitting $2.54. 6,140,405 shares of the stock were exchanged, compared to its average volume of 9,348,242. The business has a 50-day moving average of $2.81 and a 200 day moving average of $3.04. Gerdau S.A. has a fifty-two week low of $2.27 and a fifty-two week high of $4.04. The firm has a market capitalization of $5.27 billion, a P/E 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 (NYSE:GGB - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The company had revenue of $2.88 billion during the quarter, compared to analysts' expectations of $2.66 billion. Gerdau had a net margin of 7.03% and a return on equity of 7.74%. Equities analysts anticipate that Gerdau S.A. will post 0.46 EPS for the current year.

Gerdau Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.0175 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.07 annualized dividend and a yield of 2.77%. Gerdau's dividend payout ratio (DPR) is presently 13.95%.

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.