Gerdau S.A. (NYSE:GGB) Shares Purchased by Northern Trust Corp

Northern Trust Corp increased its holdings in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 34.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 918,238 shares of the basic materials company's stock after buying an additional 236,951 shares during the quarter. Northern Trust Corp's holdings in Gerdau were worth $2,645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in shares of Gerdau by 28.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 152,685 shares of the basic materials company's stock valued at $534,000 after purchasing an additional 34,069 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Gerdau by 8.5% in the 4th quarter. Pacer Advisors Inc. now owns 208,977 shares of the basic materials company's stock worth $602,000 after buying an additional 16,313 shares during the period. Mount Yale Investment Advisors LLC acquired a new position in Gerdau in the fourth quarter valued at $101,000. R Squared Ltd acquired a new position in Gerdau in the fourth quarter valued at $36,000. Finally, Robeco Institutional Asset Management B.V. grew its position in Gerdau by 151.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 51,159 shares of the basic materials company's stock valued at $147,000 after acquiring an additional 30,801 shares during the period. 1.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. UBS Group cut their price objective on Gerdau from $3.30 to $2.90 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Bank of America restated a "neutral" rating on shares of Gerdau in a report on Monday, April 7th.

Gerdau Trading Up 4.4%

Shares of GGB stock traded up $0.12 during mid-day trading on Tuesday, reaching $2.83. The company's stock had a trading volume of 15,401,596 shares, compared to its average volume of 9,420,887. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $5.88 billion, a PE ratio of 6.58 and a beta of 1.43. The company's 50 day simple moving average is $2.68 and its 200-day simple moving average is $2.93. Gerdau S.A. has a 12-month low of $2.27 and a 12-month high of $3.63.

Gerdau Increases Dividend

The business also recently declared a dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued a $0.0188 dividend. This is an increase from Gerdau's previous dividend of $0.00. This represents a yield of 2.95%. The ex-dividend date is Monday, May 12th. Gerdau's dividend payout ratio is currently 24.14%.

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.