Gerdau S.A. (NYSE:GGB) Stock Position Lifted by Two Sigma Securities LLC

Two Sigma Securities LLC grew its holdings in shares of Gerdau S.A. (NYSE:GGB) by 848.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 258,376 shares of the basic materials company’s stock after purchasing an additional 231,140 shares during the period. Two Sigma Securities LLC’s holdings in Gerdau were worth $744,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC raised its position in shares of Gerdau by 10.4% during the 4th quarter. FMR LLC now owns 98,194,996 shares of the basic materials company’s stock worth $282,802,000 after buying an additional 9,215,971 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Gerdau by 138.7% during the fourth quarter. Renaissance Technologies LLC now owns 5,606,824 shares of the basic materials company’s stock worth $16,148,000 after purchasing an additional 3,257,463 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in Gerdau by 48.0% during 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 purchasing an additional 1,557,174 shares in the last quarter. Marshall Wace LLP lifted its position in Gerdau by 16.6% in the fourth quarter. Marshall Wace LLP now owns 5,700,747 shares of the basic materials company’s stock worth $16,418,000 after purchasing an additional 810,621 shares during the period. Finally, Walleye Capital LLC boosted its stake in Gerdau by 49.3% during the 4th quarter. Walleye Capital LLC now owns 1,935,021 shares of the basic materials company’s stock valued at $5,573,000 after purchasing an additional 639,095 shares in the last quarter. 1.49% of the stock is currently owned by institutional investors.

Gerdau Stock Up 0.8 %

GGB stock opened at $2.67 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53. The firm has a market cap of $5.55 billion, a PE ratio of 6.21 and a beta of 1.37. Gerdau S.A. has a 12 month low of $2.27 and a 12 month high of $4.04. The firm has a 50 day simple moving average of $2.77 and a 200 day simple moving average of $3.02.

Gerdau (NYSE:GGB) last announced its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.66 billion. Gerdau had a return on equity of 7.74% and a net margin of 7.03%. Equities research analysts forecast that Gerdau S.A. will post 0.46 earnings per share for the current fiscal year.

Gerdau Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.0175 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.07 dividend on an annualized basis and a yield of 2.63%. Gerdau’s dividend payout ratio is currently 13.95%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GGB shares. UBS Group began coverage on Gerdau in a research note on Wednesday, March 12th. They issued a “neutral” rating on the stock. Bank of America reiterated a “neutral” rating on shares of Gerdau in a research report on Monday, April 7th.

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.