Gerdau S.A. (NYSE:GGB) Shares Acquired by Two Sigma Securities LLC

Two Sigma Securities LLC grew its stake in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 848.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 258,376 shares of the basic materials company's stock after buying an additional 231,140 shares during the period. Two Sigma Securities LLC's holdings in Gerdau were worth $744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of GGB. Private Advisor Group LLC bought a new stake in shares of Gerdau in the 4th quarter valued at about $32,000. Wealthfront Advisers LLC bought a new stake in Gerdau during the fourth quarter valued at about $32,000. Zhang Financial LLC purchased a new position in Gerdau in the fourth quarter valued at about $34,000. R Squared Ltd bought a new position in shares of Gerdau during the 4th quarter worth approximately $36,000. Finally, HighTower Advisors LLC purchased a new stake in Gerdau during the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 1.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GGB. Bank of America restated a "neutral" rating on shares of Gerdau in a report on Monday, April 7th. UBS Group cut their target price on Gerdau from $3.30 to $2.90 and set a "neutral" rating on the stock in a research report on Wednesday.

Gerdau Price Performance

GGB stock traded down $0.02 during mid-day trading on Thursday, reaching $2.60. The company's stock had a trading volume of 1,732,061 shares, compared to its average volume of 9,274,717. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. The company's 50 day moving average is $2.75 and its two-hundred day moving average is $3.00. Gerdau S.A. has a fifty-two week low of $2.27 and a fifty-two week high of $4.04. The stock has a market cap of $5.39 billion, a PE ratio of 6.03 and a beta of 1.37.

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

Gerdau Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a dividend of $0.0175 per share. This represents a $0.07 annualized dividend and a yield of 2.70%. The ex-dividend date was Friday, March 7th. Gerdau's dividend payout ratio (DPR) is presently 20.69%.

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.