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Jane Street Group LLC boosted its position in Gerdau S.A. (NYSE:GGB – Free Report) by 221.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,236,271 shares of the basic materials company’s stock after acquiring an additional 851,203 shares during the period. Jane Street Group LLC’s holdings in Gerdau were worth $3,560,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Gerdau by 28.7% in the third quarter. JPMorgan Chase & Co. now owns 152,685 shares of the basic materials company’s stock valued at $534,000 after acquiring an additional 34,069 shares in the last quarter. Zhang Financial LLC bought a new stake in shares of Gerdau during the 4th quarter valued at about $34,000. Abacus Wealth Partners LLC increased its position in shares of Gerdau by 34.4% during the fourth quarter. Abacus Wealth Partners LLC now owns 23,076 shares of the basic materials company’s stock valued at $66,000 after buying an additional 5,903 shares during the period. Pacer Advisors Inc. raised its stake in Gerdau by 8.5% in the fourth quarter. Pacer Advisors Inc. now owns 208,977 shares of the basic materials company’s stock worth $602,000 after buying an additional 16,313 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC bought a new position in Gerdau in the fourth quarter worth about $101,000. Hedge funds and other institutional investors own 1.49% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Bank of America reaffirmed a “neutral” rating on shares of Gerdau in a research report on Monday, April 7th. UBS Group reduced their price target on Gerdau from $3.30 to $2.90 and set a “neutral” rating on the stock in a research note on Wednesday, April 30th.
View Our Latest Stock Analysis on Gerdau
Gerdau Trading Up 2.1%
NYSE:GGB opened at $2.68 on Tuesday. The firm has a market capitalization of $5.56 billion, a P/E ratio of 6.22 and a beta of 1.43. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53. Gerdau S.A. has a one year low of $2.27 and a one year high of $4.04. The company’s 50-day simple moving average is $2.71 and its 200 day simple moving average is $2.96.
Gerdau (NYSE:GGB – Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.66 billion. Gerdau had a net margin of 7.03% and a return on equity of 7.74%. As a group, analysts forecast that Gerdau S.A. will post 0.46 EPS for the current fiscal year.
Gerdau Increases Dividend
The firm also recently announced a dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.0188 per share. This represents a yield of 2.95%. This is an increase from Gerdau’s previous dividend of $0.00. The ex-dividend date of this dividend is Monday, May 12th. Gerdau’s dividend payout ratio (DPR) is currently 24.14%.
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.
See Also
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