Gerdau S.A. (GGB) Stake Lifted by SG Americas Securities LLC

SG Americas Securities LLC raised its position in Gerdau S.A. (NYSE:GGB) by 126.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 150,885 shares of the basic materials company’s stock after purchasing an additional 84,147 shares during the period. SG Americas Securities LLC’s holdings in Gerdau were worth $460,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Global X Management Co. LLC increased its stake in shares of Gerdau by 1.9% in the 1st quarter. Global X Management Co. LLC now owns 32,137 shares of the basic materials company’s stock valued at $111,000 after acquiring an additional 589 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Gerdau by 5.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 41,695 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 2,236 shares in the last quarter. IPG Investment Advisors LLC bought a new stake in shares of Gerdau in the 1st quarter valued at $197,000. Advisors Asset Management Inc. increased its stake in shares of Gerdau by 27.0% in the 1st quarter. Advisors Asset Management Inc. now owns 64,063 shares of the basic materials company’s stock valued at $221,000 after acquiring an additional 13,600 shares in the last quarter. Finally, Comerica Bank increased its stake in shares of Gerdau by 1.5% in the 1st quarter. Comerica Bank now owns 65,710 shares of the basic materials company’s stock valued at $196,000 after acquiring an additional 982 shares in the last quarter. Hedge funds and other institutional investors own 5.32% of the company’s stock.

Shares of Gerdau S.A. (NYSE GGB) opened at 3.92 on Tuesday. The company’s market cap is $6.70 billion. Gerdau S.A. has a 1-year low of $2.47 and a 1-year high of $4.39. The stock has a 50 day moving average of $3.58 and a 200 day moving average of $3.33.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Thursday, August 24th were paid a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Tuesday, August 22nd. Gerdau’s payout ratio is -3.23%.

Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Gerdau from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a research note on Monday. Credit Suisse Group lowered shares of Gerdau from an “outperform” rating to a “neutral” rating in a research note on Thursday, September 7th. J P Morgan Chase & Co upgraded shares of Gerdau from a “neutral” rating to an “overweight” rating in a research note on Friday, September 1st. Finally, BidaskClub lowered shares of Gerdau from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $4.25.

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About Gerdau

Gerdau SA (Gerdau) is a manufacturer of long steel in the North and South America. The Company is engaged in the production and commercialization of steel products in general, through its mills located in Argentina, Brazil, Canada, Chile, Colombia, Spain, the United States, Guatemala, India, Mexico, Peru, the Dominican Republic, Uruguay and Venezuela.

Institutional Ownership by Quarter for Gerdau (NYSE:GGB)

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