Daiwa Securities Group Inc. Has $2.54 Million Position in Gerdau SA (GGB)

Daiwa Securities Group Inc. lowered its stake in shares of Gerdau SA (NYSE:GGB) by 23.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 674,400 shares of the basic materials company’s stock after selling 202,900 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Gerdau were worth $2,536,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GGB. Virtu Financial LLC lifted its stake in Gerdau by 10.5% during the fourth quarter. Virtu Financial LLC now owns 66,014 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 6,253 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Gerdau by 16.2% during the third quarter. Crossmark Global Holdings Inc. now owns 93,019 shares of the basic materials company’s stock worth $392,000 after purchasing an additional 12,980 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Gerdau by 211.9% during the third quarter. Hsbc Holdings PLC now owns 168,251 shares of the basic materials company’s stock worth $708,000 after purchasing an additional 114,303 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in Gerdau during the third quarter worth $1,095,000. Finally, SG Americas Securities LLC bought a new stake in Gerdau during the third quarter worth $2,433,000. 5.29% of the stock is currently owned by institutional investors and hedge funds.

NYSE GGB opened at $4.16 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.42 and a quick ratio of 1.43. Gerdau SA has a fifty-two week low of $3.37 and a fifty-two week high of $5.32. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 46.22, a price-to-earnings-growth ratio of 0.31 and a beta of 1.95.

Several equities research analysts have weighed in on the company. Zacks Investment Research cut Gerdau from a “buy” rating to a “hold” rating in a research note on Tuesday, December 11th. Scotiabank upgraded Gerdau from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 18th. Finally, Goldman Sachs Group assumed coverage on Gerdau in a research note on Thursday, December 13th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Gerdau currently has a consensus rating of “Buy” and an average target price of $4.50.

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About Gerdau

Gerdau SA engages in the production and commercialization of steel products. It operates throuh the following segments: Brazil Operation, North America Operation, South Africa Operation, and Special Steels Operation. The Brazil Operation segment includes rebar, bars, shapes, drawn products, billets, blooms, slabs, wire rod, structural shapes, and iron ore.

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Institutional Ownership by Quarter for Gerdau (NYSE:GGB)

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