UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stake in Gerdau S.A. (NYSE:GGB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Gerdau S.A. (NYSE:GGB - Free Report) by 75.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 254,500 shares of the basic materials company's stock after selling 782,980 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Gerdau were worth $733,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Gerdau by 10.4% during the fourth quarter. FMR LLC now owns 98,194,996 shares of the basic materials company's stock valued at $282,802,000 after buying an additional 9,215,971 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Gerdau by 107.4% during the 4th quarter. Two Sigma Advisers LP now owns 12,645,660 shares of the basic materials company's stock valued at $36,420,000 after buying an additional 6,548,200 shares in the last quarter. Bank of America Corp DE lifted 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 acquiring an additional 5,718,323 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of Gerdau by 49.9% in the 4th quarter. Two Sigma Investments LP now owns 14,804,499 shares of the basic materials company's stock valued at $42,637,000 after acquiring an additional 4,928,378 shares during the last quarter. Finally, Optiver Holding B.V. purchased a new position in Gerdau in the fourth quarter worth about $9,775,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

Gerdau Stock Down 0.3%

Shares of GGB stock traded down $0.01 on Thursday, hitting $3.04. The stock had a trading volume of 3,448,994 shares, compared to its average volume of 9,786,426. Gerdau S.A. has a one year low of $2.27 and a one year high of $3.62. The business has a 50 day moving average price of $2.67 and a 200 day moving average price of $2.89. The company has a market cap of $6.32 billion, a PE ratio of 7.07 and a beta of 1.38. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21.

Gerdau Increases Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were paid a $0.0188 dividend. This is an increase 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 payout ratio is 24.14%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports 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 research note on Monday. Bank of America restated a "neutral" rating on shares of Gerdau in a report on Monday, April 7th.

Gerdau Company 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.