Bayesian Capital Management LP Acquires New Position in Gerdau S.A. (NYSE:GGB)

Bayesian Capital Management LP acquired a new stake in Gerdau S.A. (NYSE:GGB) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 29,700 shares of the basic materials company’s stock, valued at approximately $86,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its holdings in Gerdau by 9.5% in the fourth quarter. Wells Fargo & Company MN now owns 53,736 shares of the basic materials company’s stock valued at $155,000 after buying an additional 4,657 shares during the period. Hsbc Holdings PLC grew its holdings in Gerdau by 0.6% during the 4th quarter. Hsbc Holdings PLC now owns 840,148 shares of the basic materials company’s stock worth $2,422,000 after acquiring an additional 5,424 shares in the last quarter. Abacus Wealth Partners LLC increased its holdings in Gerdau by 34.4% in the fourth quarter. Abacus Wealth Partners LLC now owns 23,076 shares of the basic materials company’s stock valued at $66,000 after buying an additional 5,903 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Gerdau by 10.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,116 shares of the basic materials company’s stock valued at $204,000 after acquiring an additional 6,555 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Gerdau by 0.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,032,541 shares of the basic materials company’s stock worth $2,974,000 after buying an additional 7,492 shares during the last quarter. 1.49% of the stock is currently owned by institutional investors and hedge funds.

Gerdau Stock Performance

Shares of GGB opened at $2.62 on Friday. Gerdau S.A. has a 52-week low of $2.27 and a 52-week high of $4.04. The firm has a market capitalization of $5.45 billion, a PE ratio of 6.09 and a beta of 1.43. The firm has a 50-day moving average price of $2.72 and a 200 day moving average price of $2.97. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21.

Gerdau (NYSE:GGB) last announced its earnings results on Wednesday, February 19th. The basic materials company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. Gerdau had a return on equity of 7.74% and a net margin of 7.03%. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.66 billion. On average, sell-side analysts anticipate that Gerdau S.A. will post 0.46 earnings per share for the current fiscal year.

Gerdau Increases Dividend

The company also recently announced a dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued a dividend of $0.0188 per share. This is a positive change from Gerdau’s previous dividend of $0.00. This represents a yield of 2.95%. The ex-dividend date is Monday, May 12th. Gerdau’s payout ratio is presently 24.14%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GGB. Bank of America restated a “neutral” rating on shares of Gerdau in a research report on Monday, April 7th. UBS Group cut their price target on Gerdau from $3.30 to $2.90 and set a “neutral” rating on the stock in a report on Wednesday, April 30th.

Gerdau Profile

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.