Two Sigma Advisers LP Boosts Stake in Gerdau S.A. (NYSE:GGB)

Two Sigma Advisers LP lifted its holdings in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 107.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,645,660 shares of the basic materials company's stock after buying an additional 6,548,200 shares during the period. Two Sigma Advisers LP owned approximately 0.61% of Gerdau worth $36,420,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Private Advisor Group LLC bought a new stake in Gerdau during the 4th quarter valued at approximately $32,000. Wealthfront Advisers LLC purchased a new position in shares of Gerdau in the 4th quarter worth approximately $32,000. Zhang Financial LLC purchased a new position in shares of Gerdau in the 4th quarter worth approximately $34,000. R Squared Ltd purchased a new position in shares of Gerdau in the 4th quarter worth approximately $36,000. Finally, Carrera Capital Advisors bought a new stake in shares of Gerdau during the 4th quarter worth approximately $40,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

Gerdau Stock Down 0.4%

GGB traded down $0.01 on Friday, hitting $2.71. The company had a trading volume of 13,665,512 shares, compared to its average volume of 9,396,868. The stock has a fifty day moving average price of $2.68 and a 200-day moving average price of $2.94. Gerdau S.A. has a 12-month low of $2.27 and a 12-month high of $3.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.98. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 6.30 and a beta of 1.43.

Gerdau (NYSE:GGB - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share for the quarter, hitting analysts' consensus estimates of $0.06. Gerdau had a return on equity of 7.74% and a net margin of 7.03%. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.66 billion. Analysts predict that Gerdau S.A. will post 0.46 EPS for the current fiscal year.

Gerdau Increases Dividend

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

Analysts Set New Price Targets

GGB has been the subject of a number of research analyst reports. Bank of America reissued a "neutral" rating on shares of Gerdau in a research note on Monday, April 7th. UBS Group decreased their price objective on Gerdau from $3.30 to $2.90 and set a "neutral" rating for the company in a report on Wednesday, April 30th.

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.