Gerdau S.A. $GGB Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lowered its position in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 86.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,226 shares of the basic materials company's stock after selling 391,827 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Gerdau were worth $185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Encompass Capital Advisors LLC acquired a new stake in shares of Gerdau during the 1st quarter worth approximately $30,134,000. Carrhae Capital LLP purchased a new position in shares of Gerdau during the 1st quarter worth approximately $18,655,000. Millennium Management LLC boosted its position in shares of Gerdau by 54.6% during the 1st quarter. Millennium Management LLC now owns 4,363,764 shares of the basic materials company's stock worth $12,393,000 after purchasing an additional 1,541,311 shares during the period. American Century Companies Inc. boosted its position in shares of Gerdau by 8.8% during the 1st quarter. American Century Companies Inc. now owns 3,650,409 shares of the basic materials company's stock worth $10,367,000 after purchasing an additional 294,513 shares during the period. Finally, Itau Unibanco Holding S.A. boosted its position in shares of Gerdau by 44.4% during the 1st quarter. Itau Unibanco Holding S.A. now owns 2,678,300 shares of the basic materials company's stock worth $7,366,000 after purchasing an additional 823,300 shares during the period. Institutional investors and hedge funds own 1.49% of the company's stock.

Gerdau Stock Performance

Shares of GGB stock opened at $3.28 on Thursday. The stock has a market capitalization of $6.55 billion, a PE ratio of 11.31, a P/E/G ratio of 0.79 and a beta of 1.42. The firm has a 50 day moving average of $3.06 and a two-hundred day moving average of $2.90. Gerdau S.A. has a 52 week low of $2.27 and a 52 week high of $3.62. The company has a quick ratio of 1.50, a current ratio of 2.89 and a debt-to-equity ratio of 0.30.

Gerdau (NYSE:GGB - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $3.13 billion for the quarter, compared to analysts' expectations of $3.22 billion. Gerdau had a return on equity of 6.51% and a net margin of 4.81%. On average, research analysts predict that Gerdau S.A. will post 0.46 EPS for the current fiscal year.

Gerdau Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Wednesday, August 13th were paid a dividend of $0.0216 per share. The ex-dividend date was Wednesday, August 13th. This represents a $0.09 annualized dividend and a yield of 2.6%. This is an increase from Gerdau's previous quarterly dividend of $0.02. Gerdau's dividend payout ratio (DPR) is 24.14%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Gerdau in a research report on Saturday, September 27th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $3.80.

About Gerdau

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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