By otakuyassine3@gmail.com 
American Century Companies Inc. boosted its holdings in shares of Gerdau S.A. (NYSE:GGB – Free Report) by 6.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,355,896 shares of the basic materials company’s stock after purchasing an additional 188,877 shares during the period. American Century Companies Inc.’s holdings in Gerdau were worth $9,665,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GGB. Two Sigma Advisers LP lifted its holdings in shares of Gerdau by 298.1% during the 3rd quarter. Two Sigma Advisers LP now owns 6,097,460 shares of the basic materials company’s stock valued at $21,341,000 after purchasing an additional 4,565,900 shares in the last quarter. State Street Corp raised its holdings in Gerdau by 1.4% during the 3rd quarter. State Street Corp now owns 2,865,244 shares of the basic materials company’s stock worth $10,028,000 after buying an additional 40,702 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Gerdau by 307.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,037,480 shares of the basic materials company’s stock valued at $3,631,000 after buying an additional 782,980 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Gerdau by 0.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,032,541 shares of the basic materials company’s stock valued at $2,974,000 after buying an additional 7,492 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Gerdau during the third quarter worth $3,283,000. 1.49% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, UBS Group initiated coverage on shares of Gerdau in a research report on Wednesday, March 12th. They issued a “neutral” rating on the stock.
View Our Latest Research Report on Gerdau
Gerdau Stock Down 1.4 %
Shares of Gerdau stock opened at $2.88 on Thursday. The firm has a market cap of $5.99 billion, a PE ratio of 6.70 and a beta of 1.69. The business’s 50 day simple moving average is $2.94 and its 200 day simple moving average is $3.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.98. Gerdau S.A. has a 52-week low of $2.67 and a 52-week high of $4.04.
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%. On average, analysts predict that Gerdau S.A. will post 0.46 earnings per share for the current fiscal 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 was Friday, March 7th. This represents a $0.07 annualized dividend and a yield of 2.44%. 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.
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