Massachusetts Financial Services Co. MA Has $1.11 Million Stock Holdings in Gerdau S.A. (NYSE:GGB)

Massachusetts Financial Services Co. MA increased its stake in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 147.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 392,274 shares of the basic materials company's stock after acquiring an additional 234,015 shares during the period. Massachusetts Financial Services Co. MA's holdings in Gerdau were worth $1,114,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GGB. Jane Street Group LLC raised its position in shares of Gerdau by 221.1% during the fourth quarter. Jane Street Group LLC now owns 1,236,271 shares of the basic materials company's stock worth $3,560,000 after purchasing an additional 851,203 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Gerdau by 80.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 85,205 shares of the basic materials company's stock worth $242,000 after purchasing an additional 37,969 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Gerdau by 789.5% during 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 purchasing an additional 403,894 shares during the period. Northern Trust Corp lifted its position in Gerdau by 34.8% in the 4th quarter. Northern Trust Corp now owns 918,238 shares of the basic materials company's stock valued at $2,645,000 after acquiring an additional 236,951 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Gerdau by 164.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 515,417 shares of the basic materials company's stock valued at $1,485,000 after purchasing an additional 320,404 shares in the last quarter. Institutional investors and hedge funds own 1.49% of the company's stock.

Gerdau Trading Down 1.1%

Shares of Gerdau stock traded down $0.04 during midday trading on Thursday, reaching $3.08. 5,080,247 shares of the company's stock traded hands, compared to its average volume of 11,842,297. Gerdau S.A. has a 12 month low of $2.27 and a 12 month high of $3.62. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 2.64. The stock has a 50 day moving average of $2.92 and a 200-day moving average of $2.84. The company has a market cap of $6.39 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 1.30 and a beta of 1.38.

Gerdau Increases Dividend

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

Wall Street Analysts Forecast Growth

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

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.