Robeco Institutional Asset Management B.V. Buys 403,894 Shares of Gerdau S.A. (NYSE:GGB)

Robeco Institutional Asset Management B.V. lifted its stake in Gerdau S.A. (NYSE:GGB - Free Report) by 789.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 455,053 shares of the basic materials company's stock after buying an additional 403,894 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Gerdau were worth $1,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Jane Street Group LLC boosted its holdings in shares of Gerdau by 221.1% in the 4th 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 in the last quarter. Northern Trust Corp boosted its holdings in shares of 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 purchasing an additional 236,951 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Gerdau by 164.3% in the 4th 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. Bank of America Corp DE boosted its holdings in shares of Gerdau by 130.6% in the 4th quarter. Bank of America Corp DE now owns 10,095,722 shares of the basic materials company's stock valued at $29,076,000 after purchasing an additional 5,718,323 shares in the last quarter. Finally, Barclays PLC acquired a new stake in shares of Gerdau in the 4th quarter valued at $434,000. 1.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Gerdau Trading Up 4.5%

NYSE GGB opened at $3.05 on Thursday. The company has a quick ratio of 1.28, a current ratio of 2.64 and a debt-to-equity ratio of 0.24. Gerdau S.A. has a twelve month low of $2.27 and a twelve month high of $3.62. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.32 and a beta of 1.38. The business's fifty day moving average is $2.81 and its 200 day moving average is $2.84.

Gerdau Increases Dividend

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

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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