Creative Planning increased its holdings in shares of Gerdau S.A. (NYSE:GGB – Free Report) by 175.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,331 shares of the basic materials company’s stock after purchasing an additional 23,782 shares during the period. Creative Planning’s holdings in Gerdau were worth $195,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in shares of Gerdau by 6.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 14,261,445 shares of the basic materials company’s stock worth $70,323,000 after purchasing an additional 871,743 shares during the last quarter. Millennium Management LLC raised its stake 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 acquiring an additional 10,402,297 shares in the last quarter. BlackRock Inc. raised its stake 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 acquiring an additional 196,159 shares in the last quarter. Causeway Capital Management LLC bought a new position in shares of Gerdau during the 1st quarter worth approximately $34,825,000. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of Gerdau by 61.8% during the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 6,747,867 shares of the basic materials company’s stock worth $33,267,000 after acquiring an additional 2,577,312 shares in the last quarter. 2.64% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, Scotiabank lowered shares of Gerdau from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 21st.
Gerdau Stock Down 0.5 %
Shares of GGB stock opened at $4.29 on Thursday. Gerdau S.A. has a 1-year low of $4.20 and a 1-year high of $6.34. The stock’s fifty day moving average price is $4.83 and its 200 day moving average price is $5.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.94 and a quick ratio of 1.29. The company has a market cap of $7.54 billion, a price-to-earnings ratio of 3.85 and a beta of 1.65.
Gerdau (NYSE:GGB – Get Free Report) last released its earnings results on Tuesday, August 8th. The basic materials company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.79 billion. Gerdau had a return on equity of 19.91% and a net margin of 12.56%. On average, research analysts expect that Gerdau S.A. will post 0.92 earnings per share for the current fiscal year.
Gerdau Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Tuesday, August 22nd were paid a $0.0878 dividend. This is a positive change from Gerdau’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Monday, August 21st. This represents a $0.35 dividend on an annualized basis and a yield of 8.19%. Gerdau’s dividend payout ratio (DPR) is 46.69%.
Gerdau Profile
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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