Two Sigma Investments LP Has $42.64 Million Stock Position in Gerdau S.A. (NYSE:GGB)

Two Sigma Investments LP grew its position in Gerdau S.A. (NYSE:GGB - Free Report) by 49.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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.

Several other hedge funds and other institutional investors also recently made changes to their positions in GGB. OMERS ADMINISTRATION Corp purchased a new stake in shares of Gerdau in the fourth quarter worth approximately $131,000. Millennium Management LLC increased its position in Gerdau by 1,062.3% during the fourth quarter. Millennium Management LLC now owns 2,822,453 shares of the basic materials company's stock worth $8,129,000 after acquiring an additional 2,579,621 shares during the period. Ethic Inc. boosted its stake in Gerdau by 158.5% during the fourth quarter. Ethic Inc. now owns 297,141 shares of the basic materials company's stock worth $856,000 after buying an additional 182,201 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in Gerdau by 62.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,806,871 shares of the basic materials company's stock worth $5,204,000 after buying an additional 695,005 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in Gerdau during the fourth quarter worth $86,000. 1.49% of the stock is currently owned by institutional investors and hedge funds.

Gerdau Stock Down 0.4%

NYSE:GGB traded down $0.01 during trading hours on Friday, reaching $2.71. 13,665,512 shares of the stock were exchanged, compared to its average volume of 9,396,868. Gerdau S.A. has a twelve month low of $2.27 and a twelve 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 50 day moving average of $2.68 and a 200 day moving average of $2.94. The stock has a market cap of $5.63 billion, a PE ratio of 6.30 and a beta of 1.43.

Gerdau (NYSE:GGB - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.66 billion. Gerdau had a return on equity of 7.74% and a net margin of 7.03%. On average, equities analysts expect that Gerdau S.A. will post 0.46 earnings per share for the current year.

Gerdau Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. UBS Group reduced their target price on shares of Gerdau from $3.30 to $2.90 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Bank of America reaffirmed a "neutral" rating on shares of Gerdau in a research note 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.