Arrowpoint Investment Partners Singapore Pte. Ltd. Invests $864,000 in Gerdau S.A. (NYSE:GGB)

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in shares of Gerdau S.A. (NYSE:GGB - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 300,000 shares of the basic materials company's stock, valued at approximately $864,000.

Several other institutional investors have also made changes to their positions in the business. Private Advisor Group LLC bought a new position in shares of Gerdau during the fourth quarter valued at $32,000. Wealthfront Advisers LLC acquired a new stake in shares of Gerdau during the 4th quarter worth about $32,000. Zhang Financial LLC bought a new position in Gerdau during the 4th quarter valued at about $34,000. R Squared Ltd acquired a new position in Gerdau in the fourth quarter valued at about $36,000. Finally, Wolverine Trading LLC bought a new stake in Gerdau during the fourth quarter worth about $37,000. 1.49% of the stock is currently owned by institutional investors and hedge funds.

Gerdau Stock Down 0.7%

Shares of NYSE GGB opened at $2.76 on Wednesday. Gerdau S.A. has a 12-month low of $2.27 and a 12-month high of $3.78. The firm's 50-day simple moving average is $2.70 and its 200 day simple moving average is $2.95. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 6.42 and a beta of 1.43.

Gerdau (NYSE:GGB - Get Free Report) last announced its earnings results on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share for the quarter, hitting analysts' consensus estimates 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. On average, research analysts expect that Gerdau S.A. will post 0.46 earnings per share for the current fiscal year.

Gerdau Increases Dividend

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

Wall Street Analyst Weigh In

GGB has been the subject of several recent analyst reports. UBS Group dropped 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. Bank of America reiterated 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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