Advisors Asset Management Inc. Has $366,000 Holdings in Gerdau S.A. (GGB)

Advisors Asset Management Inc. raised its position in Gerdau S.A. (NYSE:GGB) by 22.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,823 shares of the basic materials company’s stock after acquiring an additional 19,259 shares during the quarter. Advisors Asset Management Inc.’s holdings in Gerdau were worth $366,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GGB. Global X Management Co. LLC increased its position in shares of Gerdau by 6.2% in the second quarter. Global X Management Co. LLC now owns 34,134 shares of the basic materials company’s stock valued at $104,000 after acquiring an additional 1,997 shares during the period. Stevens Capital Management LP purchased a new position in shares of Gerdau in the second quarter valued at about $104,000. Lazard Asset Management LLC increased its position in shares of Gerdau by 108.5% in the second quarter. Lazard Asset Management LLC now owns 41,700 shares of the basic materials company’s stock valued at $127,000 after acquiring an additional 21,700 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of Gerdau in the second quarter valued at about $152,000. Finally, Nordea Investment Management AB purchased a new position in shares of Gerdau in the second quarter valued at about $185,000. Hedge funds and other institutional investors own 4.89% of the company’s stock.

Shares of Gerdau S.A. (GGB) traded up $0.02 during midday trading on Thursday, hitting $3.39. 2,995,600 shares of the company traded hands, compared to its average volume of 8,101,638. Gerdau S.A. has a one year low of $2.60 and a one year high of $4.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.89 and a quick ratio of 1.16. The stock has a market capitalization of $5,795.25, a PE ratio of 19.82 and a beta of 2.27.

The business also recently declared a None dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be given a dividend of $0.007 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a dividend yield of 0.8%. This is a boost from Gerdau’s previous None dividend of $0.01. Gerdau’s payout ratio is currently -3.33%.

A number of research firms have issued reports on GGB. Zacks Investment Research upgraded shares of Gerdau from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research report on Thursday, August 17th. Bank of America upgraded shares of Gerdau from a “neutral” rating to a “buy” rating and set a $4.00 price target on the stock in a research report on Monday, November 27th. Santander upgraded shares of Gerdau from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. ValuEngine cut shares of Gerdau from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Finally, J P Morgan Chase & Co upgraded shares of Gerdau from a “neutral” rating to an “overweight” rating in a research report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Gerdau has a consensus rating of “Hold” and an average price target of $4.13.

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Gerdau Profile

Gerdau SA (Gerdau) is a manufacturer of long steel in the North and South America. The Company is engaged in the production and commercialization of steel products in general, through its mills located in Argentina, Brazil, Canada, Chile, Colombia, Spain, the United States, Guatemala, India, Mexico, Peru, the Dominican Republic, Uruguay and Venezuela.

Institutional Ownership by Quarter for Gerdau (NYSE:GGB)

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