Gerdau S.A. (NYSE:GGB) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp raised its holdings in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 1,253.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 427,387 shares of the basic materials company's stock after purchasing an additional 395,811 shares during the period. Mackenzie Financial Corp's holdings in Gerdau were worth $1,231,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in shares of Gerdau during the 4th quarter valued at about $864,000. Wolverine Trading LLC bought a new stake in Gerdau during the fourth quarter valued at approximately $37,000. Two Sigma Advisers LP increased its holdings in Gerdau by 107.4% during the fourth quarter. Two Sigma Advisers LP now owns 12,645,660 shares of the basic materials company's stock valued at $36,420,000 after buying an additional 6,548,200 shares during the last quarter. Two Sigma Investments LP raised its position in Gerdau by 49.9% in the fourth quarter. Two Sigma Investments LP now owns 14,804,499 shares of the basic materials company's stock worth $42,637,000 after acquiring an additional 4,928,378 shares during the period. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Gerdau during the 4th quarter valued at $131,000. 1.49% of the stock is currently owned by hedge funds and other institutional investors.

Gerdau Trading Down 0.7%

Shares of GGB traded down $0.02 during mid-day trading on Wednesday, reaching $2.82. 8,682,779 shares of the company's stock traded hands, compared to its average volume of 9,574,624. 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 stock's 50-day moving average is $2.65 and its two-hundred day moving average is $2.90. Gerdau S.A. has a 12 month low of $2.27 and a 12 month high of $3.62. The stock has a market cap of $5.86 billion, a P/E ratio of 6.56 and a beta of 1.43.

Gerdau Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.0188 per share. This represents a dividend yield of 2.95%. This is an increase from Gerdau's previous dividend of $0.00. The ex-dividend date of this dividend was Monday, May 12th. Gerdau's dividend payout ratio is presently 24.14%.

Analyst Ratings Changes

Several research analysts have weighed in on GGB shares. UBS Group dropped their price target on Gerdau from $3.30 to $2.90 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Bank of America restated a "neutral" rating on shares of Gerdau in a 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.