Jump Financial LLC Sells 584,547 Shares of Gerdau S.A. (NYSE:GGB)

Jump Financial LLC lessened its holdings in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 68.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 264,409 shares of the basic materials company's stock after selling 584,547 shares during the period. Jump Financial LLC's holdings in Gerdau were worth $761,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Walleye Capital LLC boosted its position in shares of Gerdau by 49.3% during the 4th quarter. Walleye Capital LLC now owns 1,935,021 shares of the basic materials company's stock worth $5,573,000 after acquiring an additional 639,095 shares in the last quarter. Barclays PLC bought a new stake in shares of Gerdau during the fourth quarter worth $434,000. Raymond James Financial Inc. acquired a new position in shares of Gerdau during the fourth quarter worth $65,000. Renaissance Technologies LLC lifted its stake in shares of Gerdau by 138.7% in the 4th quarter. Renaissance Technologies LLC now owns 5,606,824 shares of the basic materials company's stock valued at $16,148,000 after acquiring an additional 3,257,463 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Gerdau by 10.4% during the 4th quarter. FMR LLC now owns 98,194,996 shares of the basic materials company's stock valued at $282,802,000 after acquiring an additional 9,215,971 shares in the last quarter. Institutional investors and hedge funds own 1.49% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GGB shares. Bank of America reaffirmed a "neutral" rating on shares of Gerdau in a report on Monday, April 7th. UBS Group started coverage on Gerdau in a report on Wednesday, March 12th. They issued a "neutral" rating for the company.

Gerdau Price Performance

GGB traded up $0.03 on Monday, reaching $2.69. The stock had a trading volume of 10,169,383 shares, compared to its average volume of 9,258,507. Gerdau S.A. has a fifty-two week low of $2.27 and a fifty-two week high of $4.04. The firm has a 50-day moving average of $2.76 and a 200-day moving average of $3.01. 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 has a market capitalization of $5.59 billion, a price-to-earnings ratio of 6.26 and a beta of 1.37.

Gerdau (NYSE:GGB - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.06 EPS for the quarter, meeting analysts' consensus estimates of $0.06. Gerdau had a return on equity of 7.74% and a net margin of 7.03%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.66 billion. As a group, sell-side analysts anticipate that Gerdau S.A. will post 0.46 EPS for the current year.

Gerdau Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.0175 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 2.61%. Gerdau's dividend payout ratio (DPR) is presently 13.95%.

About Gerdau

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.