Capital International Sarl Sells 887,740 Shares of Gerdau S.A. (NYSE:GGB)

Capital International Sarl reduced its position in Gerdau S.A. (NYSE:GGB) by 51.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 845,688 shares of the basic materials company’s stock after selling 887,740 shares during the quarter. Capital International Sarl’s holdings in Gerdau were worth $2,436,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GGB. Farringdon Capital Ltd. bought a new position in Gerdau in the 4th quarter valued at $153,000. Marshall Wace LLP boosted its stake in Gerdau by 16.6% during the fourth quarter. Marshall Wace LLP now owns 5,700,747 shares of the basic materials company’s stock valued at $16,418,000 after buying an additional 810,621 shares during the period. Walleye Capital LLC grew its position in Gerdau by 49.3% during the fourth quarter. Walleye Capital LLC now owns 1,935,021 shares of the basic materials company’s stock worth $5,573,000 after buying an additional 639,095 shares in the last quarter. Barclays PLC bought a new position in Gerdau in the 4th quarter worth about $434,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Gerdau in the 4th quarter valued at about $65,000. Hedge funds and other institutional investors own 1.49% of the company’s stock.

Analysts Set New Price Targets

GGB has been the subject of several recent analyst reports. UBS Group assumed coverage on Gerdau in a report on Wednesday, March 12th. They set a “neutral” rating for the company. Bank of America reissued a “neutral” rating on shares of Gerdau in a report on Monday, April 7th.

Gerdau Trading Up 0.6 %

Shares of GGB stock opened at $2.54 on Friday. The business has a 50-day moving average price of $2.81 and a two-hundred day moving average price of $3.05. Gerdau S.A. has a 12-month low of $2.27 and a 12-month high of $4.04. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. The firm has a market cap of $5.27 billion, a P/E ratio of 5.90 and a beta of 1.37.

Gerdau (NYSE:GGB) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.66 billion. Gerdau had a return on equity of 7.74% and a net margin of 7.03%. Equities analysts anticipate that Gerdau S.A. will post 0.46 EPS for the current fiscal year.

Gerdau Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.0175 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Friday, March 7th. Gerdau’s payout ratio 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.