Robeco Institutional Asset Management B.V. lifted its stake in shares of Gerdau S.A. (NYSE:GGB – Free Report) by 51.5% in the third quarter, HoldingsChannel reports. The fund owned 310,728 shares of the basic materials company’s stock after acquiring an additional 105,585 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Gerdau were worth $1,467,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. QRG Capital Management Inc. raised its stake in Gerdau by 11.9% during the 1st quarter. QRG Capital Management Inc. now owns 30,100 shares of the basic materials company’s stock worth $109,000 after acquiring an additional 3,196 shares during the period. Tidal Investments LLC lifted its holdings in Gerdau by 1.9% during the second quarter. Tidal Investments LLC now owns 176,888 shares of the basic materials company’s stock valued at $715,000 after purchasing an additional 3,292 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Gerdau by 5.7% in the first quarter. Sequoia Financial Advisors LLC now owns 76,494 shares of the basic materials company’s stock worth $276,000 after purchasing an additional 4,151 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Gerdau by 57.6% in the first quarter. EverSource Wealth Advisors LLC now owns 13,243 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 4,842 shares during the period. Finally, State of Wyoming boosted its position in shares of Gerdau by 36.1% in the first quarter. State of Wyoming now owns 32,986 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 8,758 shares during the period. 1.49% of the stock is currently owned by institutional investors.
Insider Transactions at Gerdau
In other news, Chairman Claudio Johannpeter sold 85,607 shares of the business’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $4.94, for a total value of $422,898.58. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Rafael Japur sold 10,000 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $5.10, for a total transaction of $51,000.00. Following the transaction, the chief financial officer owned 86,967 shares of the company’s stock, valued at approximately $443,531.70. This represents a 10.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 147,407 shares of company stock valued at $737,561. 0.02% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on GGB shares. Wall Street Zen raised shares of Gerdau to a “strong-buy” rating in a research note on Saturday, October 17th. Itau BBA Securities cut shares of Gerdau from an “outperform” rating to a “market perform” rating in a research note on Monday, August 10th. Weiss Ratings raised shares of Gerdau from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 12th. HSBC downgraded shares of Gerdau from a “buy” rating to a “hold” rating in a report on Thursday, August 20th. Finally, The Goldman Sachs Group lowered Gerdau to a “neutral” rating in a research note on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Gerdau presently has a consensus rating of “Moderate Buy” and an average price target of $5.57.
Read Our Latest Report on Gerdau
Gerdau Stock Down 6.6%
Shares of GGB opened at $4.76 on Tuesday. The business’s 50 day moving average is $4.89 and its 200 day moving average is $4.45. The company has a market capitalization of $9.35 billion, a PE ratio of 12.14 and a beta of 1.48. Gerdau S.A. has a 12-month low of $3.14 and a 12-month high of $5.48. The company has a current ratio of 2.87, a quick ratio of 1.30 and a debt-to-equity ratio of 0.26.
Gerdau (NYSE:GGB – Get Free Report) last posted its quarterly earnings results on Monday, October 26th. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). Gerdau had a return on equity of 7.97% and a net margin of 3.37%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.64 billion. Research analysts expect that Gerdau S.A. will post 0.55 earnings per share for the current fiscal year.
Gerdau Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, August 21st were given a dividend of $0.0448 per share. The ex-dividend date was Friday, August 21st. This is an increase from Gerdau’s previous quarterly dividend of $0.0361. This represents a $0.18 annualized dividend and a dividend yield of 3.8%. Gerdau’s dividend payout ratio (DPR) is 65.22%.
Gerdau Profile
Gerdau SA is a Brazil-based steel producer with operations across the Americas. The company manufactures and sells steel products for the construction, industrial, automotive, agricultural and infrastructure markets.
Its product portfolio includes long steel products such as rebar, wire rod, merchant bars and structural shapes, as well as special steel used in automotive and industrial applications. Gerdau also produces flat steel and semi-finished products, including billets and slabs, and operates steel mills, scrap-processing facilities and related distribution networks.
Founded in 1901, Gerdau has grown from a regional Brazilian steelmaker into an international producer serving customers in Brazil, North America and other parts of Latin America.
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