Cubist Systematic Strategies LLC Has $1.61 Million Holdings in Gerdau S.A. (NYSE:GGB)

Cubist Systematic Strategies LLC reduced its stake in shares of Gerdau S.A. (NYSE:GGB) by 33.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 558,483 shares of the basic materials company’s stock after selling 286,802 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Gerdau were worth $1,608,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in Gerdau by 28.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 152,685 shares of the basic materials company’s stock worth $534,000 after acquiring an additional 34,069 shares during the last quarter. Zhang Financial LLC acquired a new stake in shares of Gerdau in the 4th quarter valued at approximately $34,000. Abacus Wealth Partners LLC raised its position in shares of Gerdau by 34.4% in the 4th quarter. Abacus Wealth Partners LLC now owns 23,076 shares of the basic materials company’s stock valued at $66,000 after acquiring an additional 5,903 shares during the period. Pacer Advisors Inc. raised its holdings in Gerdau by 8.5% during the 4th quarter. Pacer Advisors Inc. now owns 208,977 shares of the basic materials company’s stock worth $602,000 after buying an additional 16,313 shares during the period. Finally, Mount Yale Investment Advisors LLC acquired a new stake in Gerdau during the 4th quarter worth approximately $101,000. 1.49% of the stock is currently owned by institutional investors and hedge funds.

Gerdau Stock Up 2.1%

Shares of NYSE GGB opened at $2.68 on Tuesday. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 6.22 and a beta of 1.43. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $2.71 and a two-hundred day moving average price of $2.96. Gerdau S.A. has a 12 month low of $2.27 and a 12 month high of $4.04.

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

Gerdau Increases Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be given a $0.0188 dividend. This is a boost from Gerdau’s previous dividend of $0.00. The ex-dividend date of this dividend is Monday, May 12th. This represents a yield of 2.95%. Gerdau’s dividend payout ratio (DPR) is presently 24.14%.

Wall Street Analyst Weigh In

GGB has been the subject of several research reports. UBS Group decreased their price target on shares of Gerdau from $3.30 to $2.90 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Bank of America reaffirmed a “neutral” rating on shares of Gerdau in a 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.