2 weeks Ago By ABMN Staff
Daiwa Securities Group Inc. boosted its holdings in shares of Gerdau S.A.
( NYSE:GGB – Free Report ) by 46.6% during the 2nd quarter, Holdings Channel reports. The fund owned 289,558 shares of the basic materials company’s stock after buying an additional 92,093 shares during the period.
Daiwa Securities Group Inc.’s holdings in Gerdau were worth $956,000 as of its most recent SEC filing. Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GGB.
BNP Paribas Financial Markets grew its holdings in Gerdau by 16.7% during the 4th quarter. BNP Paribas Financial Markets now owns 193,194 shares of the basic materials company’s stock worth $937,000 after acquiring an additional 27,578 shares in the last quarter.
Dynamic Technology Lab Private Ltd grew its holdings in Gerdau by 124.4% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 155,137 shares of the basic materials company’s stock worth $752,000 after acquiring an additional 86,014 shares in the last quarter.
BayBridge Capital Group LLC bought a new position in Gerdau during the 4th quarter worth about $330,000. Parallel Advisors LLC grew its holdings in Gerdau by 66.2% during the 4th quarter.
Parallel Advisors LLC now owns 17,344 shares of the basic materials company’s stock worth $84,000 after acquiring an additional 6,909 shares in the last quarter. Finally, IPG Investment Advisors LLC bought a new position in Gerdau during the 4th quarter worth about $55,000. 1.
49% of the stock is currently owned by institutional investors. Analyst Upgrades and Downgrades Separately, Bank of America upgraded shares of Gerdau from a “neutral” rating to a “buy” rating and increased their target price for the stock from $4.50 to $5.
00 in a report on Friday, May 24th. Gerdau Stock Up 1.5 % NYSE:GGB opened at $3.
37 on Monday. Gerdau S.A.
has a fifty-two week low of $2.92 and a fifty-two week high of $4.41.
The stock has a market capitalization of $7.11 billion, a P/E ratio of 5.52 and a beta of 1.
74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.
36 and a current ratio of 2.83. The company’s 50-day simple moving average is $3.
25 and its 200-day simple moving average is $3.40. Gerdau ( NYSE:GGB – Get Free Report ) last released its quarterly earnings results on Wednesday, July 31st.
The basic materials company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.
02. Gerdau had a net margin of 7.88% and a return on equity of 8.
43%. The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.
01 billion. On average, equities analysts anticipate that Gerdau S.A.
will post 0.53 earnings per share for the current fiscal year. Gerdau Increases Dividend The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th.
Investors of record on Tuesday, August 13th were given a $0.055 dividend. This is a positive change from Gerdau’s previous quarterly dividend of $0.
06. This represents a $0.22 annualized dividend and a dividend yield of 6.
53%. The ex-dividend date was Tuesday, August 13th. Gerdau’s dividend payout ratio (DPR) is presently 13.
11%. Gerdau Company Profile ( Free Report ) Gerdau SA, together with its subsidiaries, operates as a steel producer company. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments.
It also 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. See Also Want to see what other hedge funds are holding GGB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gerdau S.
A. ( NYSE:GGB – Free Report ). Receive News & Ratings for Gerdau Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gerdau and related companies with MarketBeat.
com's FREE daily email newsletter ..
