Gerdau S.A. (NYSE:GGB) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. reduced its position in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 75.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 233,600 shares of the basic materials company's stock after selling 704,500 shares during the period. Point72 Asset Management L.P.'s holdings in Gerdau were worth $673,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Private Advisor Group LLC acquired a new stake in shares of Gerdau during the fourth quarter worth about $32,000. Wealthfront Advisers LLC purchased a new position in shares of Gerdau in the 4th quarter valued at approximately $32,000. R Squared Ltd acquired a new position in shares of Gerdau in the fourth quarter valued at approximately $36,000. Carrera Capital Advisors acquired a new position in shares of Gerdau in the fourth quarter valued at approximately $40,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Gerdau during the fourth quarter worth approximately $65,000. Institutional investors and hedge funds own 1.49% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GGB. Bank of America reiterated a "neutral" rating on shares of Gerdau in a research report on Monday, April 7th. UBS Group reduced their price objective on shares of Gerdau from $3.30 to $2.90 and set a "neutral" rating for the company in a research report on Wednesday, April 30th.

Gerdau Price Performance

Shares of NYSE GGB traded down $0.08 during trading on Wednesday, hitting $2.77. 3,272,655 shares of the company were exchanged, compared to its average volume of 9,396,848. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 6.43 and a beta of 1.43. Gerdau S.A. has a 1 year low of $2.27 and a 1 year high of $3.63. The firm's fifty day moving average price is $2.67 and its 200 day moving average price is $2.93. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53.

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 issued a $0.0188 dividend. This is a positive change from Gerdau's previous dividend of $0.00. The ex-dividend date of this dividend was Monday, May 12th. This represents a yield of 2.95%. Gerdau's dividend payout ratio is 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.