Dimensional Fund Advisors LP Reduces Position in Gerdau SA (GGB)

Dimensional Fund Advisors LP cut its position in shares of Gerdau SA (NYSE:GGB) by 10.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,850,137 shares of the basic materials company’s stock after selling 2,168,955 shares during the quarter. Dimensional Fund Advisors LP owned about 1.04% of Gerdau worth $63,218,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Gerdau by 55.3% during the first quarter. BlackRock Inc. now owns 20,131,194 shares of the basic materials company’s stock valued at $93,812,000 after purchasing an additional 7,170,563 shares in the last quarter. Millennium Management LLC boosted its holdings in Gerdau by 292.2% in the first quarter. Millennium Management LLC now owns 2,819,247 shares of the basic materials company’s stock worth $13,138,000 after acquiring an additional 2,100,333 shares in the last quarter. Prince Street Capital Management LLC bought a new stake in Gerdau in the first quarter worth $10,928,000. Fisher Asset Management LLC bought a new stake in Gerdau in the second quarter worth $8,025,000. Finally, Sei Investments Co. boosted its holdings in Gerdau by 24.8% in the second quarter. Sei Investments Co. now owns 2,073,568 shares of the basic materials company’s stock worth $7,340,000 after acquiring an additional 411,709 shares in the last quarter. Institutional investors own 4.50% of the company’s stock.

Gerdau stock opened at $4.21 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.39 and a current ratio of 2.36. Gerdau SA has a 12 month low of $2.89 and a 12 month high of $5.32. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 46.56, a P/E/G ratio of 0.40 and a beta of 2.52.

Gerdau (NYSE:GGB) last released its earnings results on Wednesday, August 8th. The basic materials company reported $0.12 EPS for the quarter. Gerdau had a positive return on equity of 6.25% and a negative net margin of 0.43%. The business had revenue of $3.35 billion for the quarter. research analysts predict that Gerdau SA will post 0.39 EPS for the current year.

The business also recently announced a special dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 24th were issued a $0.0373 dividend. This represents a yield of 1.96%. This is an increase from Gerdau’s previous special dividend of $0.02. The ex-dividend date was Thursday, August 23rd. Gerdau’s payout ratio is 55.56%.

Several equities research analysts have commented on GGB shares. HSBC raised Gerdau from a “hold” rating to a “buy” rating in a report on Monday, September 17th. Bank of America reissued a “buy” rating on shares of Gerdau in a report on Thursday, August 16th. Finally, Morgan Stanley raised Gerdau from an “equal weight” rating to an “overweight” rating in a report on Tuesday, June 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $4.50.

Gerdau Profile

Gerdau SA provides steel-related products and services worldwide. It operates through four segments: Brazil Operations, North America Operations, South America Operations, and Special Steel Operations. The company offers semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles, which are used primarily in the construction and manufacturing industries; and drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps, as well as mines and produces iron ore.

See Also: Book Value Per Share – BVPS

Institutional Ownership by Quarter for Gerdau (NYSE:GGB)

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