Renaissance Technologies LLC Grows Holdings in Gerdau S.A. (NYSE:GGB)

Renaissance Technologies LLC increased its position in Gerdau S.A. (NYSE:GGB - Free Report) by 138.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,606,824 shares of the basic materials company's stock after acquiring an additional 3,257,463 shares during the period. Renaissance Technologies LLC owned approximately 0.27% of Gerdau worth $16,148,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GGB. Private Advisor Group LLC purchased a new stake in Gerdau during the fourth quarter worth $32,000. Wealthfront Advisers LLC purchased a new stake in shares of Gerdau in the 4th quarter worth about $32,000. Zhang Financial LLC purchased a new stake in shares of Gerdau in the 4th quarter worth about $34,000. R Squared Ltd acquired a new stake in Gerdau in the 4th quarter valued at about $36,000. Finally, HighTower Advisors LLC purchased a new position in Gerdau during the 3rd quarter valued at about $38,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on GGB shares. UBS Group assumed coverage on shares of Gerdau in a report on Wednesday, March 12th. They issued a "neutral" rating on the stock. Bank of America reaffirmed a "neutral" rating on shares of Gerdau in a research note on Monday, April 7th.

Gerdau Trading Up 0.6 %

Shares of NYSE:GGB traded up $0.02 during midday trading on Friday, reaching $2.54. The company's stock had a trading volume of 6,140,405 shares, compared to its average volume of 9,348,242. The business has a 50 day moving average price of $2.81 and a 200 day moving average price of $3.04. Gerdau S.A. has a 1 year low of $2.27 and a 1 year high of $4.04. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 5.90 and a beta of 1.37. 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 (NYSE:GGB - Get Free Report) last posted its quarterly earnings data 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 net margin of 7.03% and a return on equity of 7.74%. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.66 billion. Research analysts forecast that Gerdau S.A. will post 0.46 EPS for the current year.

Gerdau Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.0175 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 2.77%. Gerdau's dividend payout ratio is currently 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.