Gerdau SA (GGB) Shares Bought by Two Sigma Advisers LP

Two Sigma Advisers LP raised its position in Gerdau SA (NYSE:GGB) by 161.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 202,400 shares of the basic materials company’s stock after acquiring an additional 125,100 shares during the quarter. Two Sigma Advisers LP’s holdings in Gerdau were worth $761,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its holdings in shares of Gerdau by 1.5% in the 4th quarter. Barclays PLC now owns 563,945 shares of the basic materials company’s stock valued at $2,120,000 after purchasing an additional 8,207 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Gerdau in the 4th quarter valued at $72,000. NEXT Financial Group Inc raised its stake in shares of Gerdau by 9.5% in the 4th quarter. NEXT Financial Group Inc now owns 34,500 shares of the basic materials company’s stock valued at $130,000 after acquiring an additional 3,000 shares during the period. Windsor Creek Advisors LLC purchased a new position in shares of Gerdau in the 4th quarter valued at $2,923,000. Finally, First Trust Advisors LP purchased a new position in shares of Gerdau in the 4th quarter valued at $92,000. Institutional investors own 7.44% of the company’s stock.

GGB has been the topic of a number of research reports. Scotiabank raised shares of Gerdau from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 18th. ValuEngine downgraded shares of Gerdau from a “hold” rating to a “sell” rating in a research note on Tuesday, February 19th. Finally, Zacks Investment Research downgraded shares of Gerdau from a “hold” rating to a “sell” rating in a research note on Wednesday, February 20th. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $4.50.

Gerdau stock opened at $3.89 on Wednesday. Gerdau SA has a 12-month low of $3.37 and a 12-month high of $5.13. The firm has a market cap of $6.69 billion, a P/E ratio of 43.22, a PEG ratio of 1.32 and a beta of 2.01. The company has a current ratio of 2.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.50.

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were paid a dividend of $0.0268 per share. This is an increase from Gerdau’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.11 annualized dividend and a yield of 2.76%. Gerdau’s payout ratio is 111.11%.

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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.

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Institutional Ownership by Quarter for Gerdau (NYSE:GGB)

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