Two Sigma Investments LP Boosts Holdings in Gerdau S.A. (NYSE:GGB)

Two Sigma Investments LP lifted its holdings in Gerdau S.A. (NYSE:GGB - Free Report) by 49.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,804,499 shares of the basic materials company's stock after buying an additional 4,928,378 shares during the quarter. Two Sigma Investments LP owned approximately 0.71% of Gerdau worth $42,637,000 at the end of the most recent quarter.

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

Gerdau Stock Down 0.4%

NYSE GGB traded down $0.01 during trading on Monday, reaching $2.71. 13,665,512 shares of the company's stock traded hands, compared to its average volume of 9,396,868. 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 current ratio of 2.98 and a quick ratio of 1.53. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 6.30 and a beta of 1.43. The company's 50 day simple moving average is $2.68 and its two-hundred day simple moving average is $2.94.

Gerdau Increases Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on GGB. UBS Group lowered their price target on Gerdau from $3.30 to $2.90 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Bank of America reissued a "neutral" rating on shares of Gerdau in a research report on Monday, April 7th.

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.