Capital International Inc. CA Reduces Stock Position in Gerdau S.A. (NYSE:GGB)

Capital International Inc. CA lessened its stake in Gerdau S.A. (NYSE:GGB - Free Report) by 35.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 645,972 shares of the basic materials company's stock after selling 349,278 shares during the quarter. Capital International Inc. CA's holdings in Gerdau were worth $1,860,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. HighTower Advisors LLC purchased a new stake in Gerdau during the third quarter valued at about $38,000. State Street Corp grew its holdings in shares of Gerdau by 1.4% during the 3rd quarter. State Street Corp now owns 2,865,244 shares of the basic materials company's stock worth $10,028,000 after purchasing an additional 40,702 shares during the period. Jane Street Group LLC increased its position in Gerdau by 11.5% during the 3rd quarter. Jane Street Group LLC now owns 385,068 shares of the basic materials company's stock worth $1,348,000 after purchasing an additional 39,609 shares in the last quarter. Virtu Financial LLC purchased a new position in Gerdau in the third quarter valued at approximately $189,000. Finally, Tidal Investments LLC acquired a new position in Gerdau during the third quarter valued at approximately $525,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

Gerdau Stock Up 0.8 %

Shares of GGB stock traded up $0.02 during trading hours on Friday, reaching $2.67. The company had a trading volume of 6,721,698 shares, compared to its average volume of 9,245,401. The stock's fifty day simple moving average is $2.77 and its 200 day simple moving average is $3.02. The company has a market capitalization of $5.55 billion, a P/E ratio of 6.21 and a beta of 1.37. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.98. Gerdau S.A. has a twelve month low of $2.27 and a twelve month high of $4.04.

Gerdau (NYSE:GGB - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Gerdau had a net margin of 7.03% and a return on equity of 7.74%. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.66 billion. As a group, sell-side analysts expect that Gerdau S.A. will post 0.46 earnings per share for the current fiscal year.

Gerdau Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.0175 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.07 dividend on an annualized basis and a yield of 2.63%. Gerdau's dividend payout ratio is currently 13.95%.

Analyst Ratings Changes

Several research firms have recently issued reports on GGB. Bank of America reissued a "neutral" rating on shares of Gerdau in a research report on Monday, April 7th. UBS Group initiated coverage on shares of Gerdau in a research report on Wednesday, March 12th. They set a "neutral" rating for the company.

Gerdau Profile

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.