Daiwa Securities Group Inc. lowered its position in shares of Gerdau S.A. (NYSE:GGB – Free Report) by 20.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 192,465 shares of the basic materials company’s stock after selling 49,835 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Gerdau were worth $949,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Gerdau during the 4th quarter worth approximately $104,889,000. Dimensional Fund Advisors LP raised its position in shares of Gerdau by 8.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,389,702 shares of the basic materials company’s stock worth $74,195,000 after purchasing an additional 1,034,363 shares during the period. Millennium Management LLC raised its position in shares of Gerdau by 1,180.1% during the 4th quarter. Millennium Management LLC now owns 11,283,774 shares of the basic materials company’s stock worth $62,512,000 after purchasing an additional 10,402,297 shares during the period. BlackRock Inc. raised its position in shares of Gerdau by 2.8% during the 3rd quarter. BlackRock Inc. now owns 7,215,646 shares of the basic materials company’s stock worth $32,615,000 after purchasing an additional 196,159 shares during the period. Finally, Man Group plc raised its position in shares of Gerdau by 184.6% during the 4th quarter. Man Group plc now owns 5,326,059 shares of the basic materials company’s stock worth $29,506,000 after purchasing an additional 3,454,564 shares during the period. Institutional investors and hedge funds own 2.84% of the company’s stock.
Gerdau Stock Down 0.2 %
GGB opened at $5.96 on Friday. Gerdau S.A. has a 12 month low of $4.09 and a 12 month high of $6.34. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.49 and a quick ratio of 1.17. The stock has a market cap of $10.47 billion, a P/E ratio of 4.38 and a beta of 1.62. The stock’s 50 day moving average price is $5.32 and its 200 day moving average price is $5.25.
Gerdau Increases Dividend
The firm also recently announced a — dividend, which was paid on Tuesday, June 6th. Investors of record on Wednesday, May 17th were given a $0.101 dividend. This is a boost from Gerdau’s previous — dividend of $0.02. This represents a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, May 16th. Gerdau’s dividend payout ratio (DPR) is currently 41.19%.
Analysts Set New Price Targets
Separately, Scotiabank cut Gerdau from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 21st.
About Gerdau
Gerdau SA, together with its subsidiaries, operates as a steel producer company. It operates through Brazil Business, North America Business, South America Business, and Special Steel Business divisions. The company 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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