Kapitalo Investimentos Ltda Takes Position in Gerdau S.A. (NYSE:GGB)

Key Points

• Kapitalo Investimentos Ltda has acquired a new stake in Gerdau S.A. by purchasing 158,682 shares, valued at approximately $451,000.
• Several institutional investors have significantly increased their holdings in Gerdau, with Jane Street Group LLC adding 221.1% to their position in the fourth quarter.
• Gerdau recently announced a dividend payment of $0.0188 per share, marking an increase from the previous dividend amount of $0.00, with a yield of 2.95%.

Kapitalo Investimentos Ltda bought a new stake in Gerdau S.A. (NYSE:GGB - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 158,682 shares of the basic materials company's stock, valued at approximately $451,000.

Other institutional investors have also modified their holdings of the company. Jane Street Group LLC grew its position in shares of Gerdau by 221.1% in the fourth quarter. Jane Street Group LLC now owns 1,236,271 shares of the basic materials company's stock valued at $3,560,000 after purchasing an additional 851,203 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Gerdau by 80.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 85,205 shares of the basic materials company's stock valued at $242,000 after purchasing an additional 37,969 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Gerdau by 789.5% in the first quarter. Robeco Institutional Asset Management B.V. now owns 455,053 shares of the basic materials company's stock worth $1,292,000 after buying an additional 403,894 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Gerdau by 34.8% in the fourth quarter. Northern Trust Corp now owns 918,238 shares of the basic materials company's stock worth $2,645,000 after buying an additional 236,951 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Gerdau by 164.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 515,417 shares of the basic materials company's stock worth $1,485,000 after buying an additional 320,404 shares in the last quarter. Institutional investors and hedge funds own 1.49% of the company's stock.

Gerdau Stock Performance

NYSE:GGB opened at $3.06 on Friday. The company's 50-day moving average price is $2.93 and its 200-day moving average price is $2.85. 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 cap of $6.35 billion, a P/E ratio of 10.53, a P/E/G ratio of 1.32 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.

Gerdau Increases Dividend

The company also recently announced a dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.0188 per share. The ex-dividend date was Monday, May 12th. This is an increase from Gerdau's previous dividend of $0.00. This represents a yield of 2.95%. Gerdau's payout ratio is 27.59%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GGB shares. UBS Group raised shares of Gerdau from a "neutral" rating to a "buy" rating and raised their price target for the stock from $2.90 to $3.80 in a research note on Monday, June 9th. Bank of America reissued a "neutral" rating on shares of Gerdau in a research note on Monday, April 7th.

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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