Gerdau S.A. $GGB Stock Position Lessened by Optiver Holding B.V.

Key Points

• Optiver Holding B.V. reduced its Gerdau stake by 53.9% in the first quarter, selling 1.36 million shares and retaining 1.17 million shares valued at approximately $4.21 million.
• Other institutional investors, including AQR Capital, Millennium Management and UBS Asset Management, increased their positions, though institutions collectively own only 1.49% of Gerdau. Insiders have sold 535,789 shares worth about $2.59 million over the past 90 days.
• Analyst sentiment remains positive, with Gerdau carrying a “Moderate Buy” consensus rating and an average price target of $5.28. Shares recently opened at $4.96, near their 52-week high of $5.02.

Optiver Holding B.V. trimmed its holdings in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 53.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,166,148 shares of the basic materials company's stock after selling 1,364,775 shares during the period. Optiver Holding B.V. owned approximately 0.06% of Gerdau worth $4,210,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC lifted its holdings in Gerdau by 65.9% in the first quarter. AQR Capital Management LLC now owns 582,949 shares of the basic materials company's stock worth $1,656,000 after purchasing an additional 231,588 shares during the period. Millennium Management LLC increased its stake in Gerdau by 54.6% during the 1st quarter. Millennium Management LLC now owns 4,363,764 shares of the basic materials company's stock valued at $12,393,000 after buying an additional 1,541,311 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Gerdau by 821.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,344,175 shares of the basic materials company's stock worth $6,657,000 after buying an additional 2,089,675 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Gerdau in the 2nd quarter worth approximately $51,000. Finally, Creative Planning lifted its stake in shares of Gerdau by 88.8% in the 2nd quarter. Creative Planning now owns 70,079 shares of the basic materials company's stock worth $205,000 after acquiring an additional 32,961 shares during the period. 1.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Gerdau

In related news, insider Chia Yuan Wang sold 40,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $4.75, for a total transaction of $190,000.00. Following the completion of the sale, the insider directly owned 32,195 shares of the company's stock, valued at $152,926.25. This represents a 55.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cesar Obino Da Rosa Peres sold 8,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $4.60, for a total transaction of $36,800.00. Following the sale, the insider owned 8 shares of the company's stock, valued at $36.80. The trade was a 99.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 535,789 shares of company stock worth $2,588,527. 0.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GGB shares. UBS Group reiterated a "buy" rating and issued a $5.25 price objective (up from $4.60) on shares of Gerdau in a report on Wednesday, April 29th. JPMorgan Chase & Co. boosted their target price on Gerdau from $5.50 to $6.00 and gave the stock an "overweight" rating in a report on Thursday, June 25th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Gerdau in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Gerdau presently has an average rating of "Moderate Buy" and an average target price of $5.28.

Gerdau Price Performance

Shares of Gerdau stock opened at $4.96 on Friday. Gerdau S.A. has a 52 week low of $2.85 and a 52 week high of $5.02. The company has a current ratio of 2.76, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26. The stock has a market cap of $9.93 billion, a PE ratio of 31.03 and a beta of 1.50. The company's 50-day moving average price is $4.53 and its two-hundred day moving average price is $4.26.

About Gerdau

Gerdau SA is a Brazilian-based steel producer engaged in the manufacture and distribution of long steel products for the construction, industrial and agricultural sectors. Established in 1901, the company operates an integrated network of electric-arc furnaces and rolling mills, producing reinforcement bars, wire rod, merchant bars and structural shapes. Gerdau's product portfolio also includes specialty long steel, high-yield reinforcement, rail, beams and steel coils, as well as value-added processing services such as cutting, bending and coating.

The company has expanded its footprint beyond Brazil, with significant operations in North America, South America and a presence in select European markets.

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