Arrowpoint Investment Partners Singapore Pte. Ltd. Buys Shares of 300,000 Gerdau S.A. (NYSE:GGB)

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in shares of Gerdau S.A. (NYSE:GGB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 300,000 shares of the basic materials company's stock, valued at approximately $864,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GGB. Private Advisor Group LLC acquired a new stake in Gerdau in the fourth quarter valued at $32,000. Wealthfront Advisers LLC purchased a new stake in shares of Gerdau in the fourth quarter worth about $32,000. Zhang Financial LLC purchased a new stake in Gerdau during the 4th quarter worth $34,000. R Squared Ltd purchased a new stake in shares of Gerdau during the fourth quarter worth about $36,000. Finally, Wolverine Trading LLC purchased a new stake in Gerdau during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 1.49% of the company's stock.

Gerdau Stock Performance

Shares of NYSE:GGB traded down $0.01 during trading on Monday, reaching $2.71. 13,665,512 shares of the company's stock traded hands, compared to its average volume of 9,396,868. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53. The company has a 50 day moving average of $2.68 and a 200-day moving average of $2.94. Gerdau S.A. has a 12 month low of $2.27 and a 12 month high of $3.63. The stock has a market capitalization of $5.63 billion, a P/E ratio of 6.30 and a beta of 1.43.

Gerdau Increases Dividend

The business also recently declared a dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.0188 per share. This represents a dividend yield of 2.95%. This is a boost from Gerdau's previous dividend of $0.00. The ex-dividend date of this dividend is Monday, May 12th. Gerdau's dividend payout ratio is presently 24.14%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GGB shares. Bank of America reiterated a "neutral" rating on shares of Gerdau in a research report on Monday, April 7th. UBS Group decreased their price objective on shares of Gerdau from $3.30 to $2.90 and set a "neutral" rating for the company in a report on Wednesday, April 30th.

Gerdau Company 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.