258,000 Shares in Gerdau S.A. (NYSE:GGB) Bought by Banque Cantonale Vaudoise

Key Points

• Banque Cantonale Vaudoise purchased 258,000 shares of Gerdau S.A. valued at approximately $733,000, indicating growing institutional interest in the company.
• Gerdau recently announced a dividend yield of 295.0%, up from a previous dividend of $0.00, reflecting a positive shift in its financial performance.
• Research firms are optimistic, with UBS Group upgrading Gerdau from "neutral" to "buy" and raising the price target from $2.90 to $3.80.

Banque Cantonale Vaudoise acquired a new stake in Gerdau S.A. (NYSE:GGB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 258,000 shares of the basic materials company's stock, valued at approximately $733,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wolverine Trading LLC acquired a new position in shares of Gerdau in the fourth quarter worth about $37,000. Xponance Inc. acquired a new position in shares of Gerdau in the 1st quarter valued at approximately $40,000. Sigma Planning Corp purchased a new position in shares of Gerdau during the 1st quarter valued at approximately $46,000. Raymond James Financial Inc. acquired a new stake in shares of Gerdau during the fourth quarter worth approximately $65,000. Finally, First Trust Advisors LP acquired a new stake in shares of Gerdau during the fourth quarter worth approximately $79,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

Gerdau Price Performance

Shares of NYSE GGB opened at $2.96 on Friday. The company has a current ratio of 2.64, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 1.30 and a beta of 1.38. Gerdau S.A. has a twelve month low of $2.27 and a twelve month high of $3.62. The business has a 50 day simple moving average of $2.95 and a 200-day simple moving average of $2.85.

Gerdau Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.0188 per share. This represents a dividend yield of 295.0%. This is a positive change from Gerdau's previous dividend of $0.00. The ex-dividend date of this dividend was Monday, May 12th. Gerdau's dividend payout ratio is currently 27.59%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GGB. UBS Group raised shares of Gerdau from a "neutral" rating to a "buy" rating and upped their price target for the company from $2.90 to $3.80 in a report on Monday, June 9th. Bank of America reaffirmed a "neutral" rating on shares of Gerdau in a research report on Monday, April 7th.

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.

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