Gerdau S.A. (NYSE:GGB) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Gerdau S.A. (NYSE:GGB - Free Report) by 75.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 254,500 shares of the basic materials company's stock after selling 782,980 shares during the quarter. 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 filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in shares of Gerdau by 9.5% during the fourth quarter. Wells Fargo & Company MN now owns 53,736 shares of the basic materials company's stock valued at $155,000 after acquiring an additional 4,657 shares during the last quarter. Hsbc Holdings PLC lifted its position in Gerdau by 0.6% during the fourth quarter. Hsbc Holdings PLC now owns 840,148 shares of the basic materials company's stock valued at $2,422,000 after buying an additional 5,424 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Gerdau by 10.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,116 shares of the basic materials company's stock valued at $204,000 after buying an additional 6,555 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Gerdau by 0.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,032,541 shares of the basic materials company's stock valued at $2,974,000 after purchasing an additional 7,492 shares during the period. Finally, Private Advisor Group LLC purchased a new stake in shares of Gerdau during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 1.49% of the company's stock.

Gerdau Price Performance

GGB stock traded down $0.02 during trading on Friday, hitting $3.00. The company had a trading volume of 15,260,896 shares, compared to its average volume of 9,870,368. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 6.97 and a beta of 1.38. The business has a 50 day moving average of $2.70 and a 200 day moving average of $2.89. Gerdau S.A. has a fifty-two week low of $2.27 and a fifty-two week high of $3.62. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21.

Gerdau Increases Dividend

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

Analysts Set New Price Targets

GGB has been the subject of a number of research analyst reports. Bank of America restated a "neutral" rating on shares of Gerdau in a research note on Monday, April 7th. UBS Group raised shares of Gerdau from a "neutral" rating to a "buy" rating and boosted their price target for the company from $2.90 to $3.80 in a report on Monday, June 9th.

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.