Schonfeld Strategic Advisors LLC Acquires Shares of 91,200 Gerdau S.A. (NYSE:GGB)

Schonfeld Strategic Advisors LLC acquired a new stake in Gerdau S.A. (NYSE:GGB) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 91,200 shares of the basic materials company’s stock, valued at approximately $263,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its holdings in Gerdau by 164.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 515,417 shares of the basic materials company’s stock valued at $1,485,000 after buying an additional 320,404 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Gerdau by 8.5% during the 4th quarter. Pacer Advisors Inc. now owns 208,977 shares of the basic materials company’s stock worth $602,000 after purchasing an additional 16,313 shares in the last quarter. Capital Wealth Planning LLC acquired a new stake in shares of Gerdau during the 4th quarter worth $1,279,000. Private Advisor Group LLC acquired a new stake in shares of Gerdau during the 4th quarter worth $32,000. Finally, American Century Companies Inc. grew its holdings in shares of Gerdau by 6.0% during the 4th quarter. American Century Companies Inc. now owns 3,355,896 shares of the basic materials company’s stock worth $9,665,000 after purchasing an additional 188,877 shares in the last quarter. 1.49% of the stock is owned by institutional investors and hedge funds.

Gerdau Price Performance

Shares of GGB stock opened at $2.68 on Tuesday. 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 S.A. has a twelve month low of $2.27 and a twelve month high of $4.04. The company has a market cap of $5.56 billion, a P/E ratio of 6.22 and a beta of 1.43. The business has a fifty day simple moving average of $2.71 and a 200 day simple moving average of $2.96.

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

Gerdau Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be given a dividend of $0.0188 per share. This is an increase from Gerdau’s previous dividend of $0.00. This represents a dividend yield of 2.95%. The ex-dividend date is Monday, May 12th. Gerdau’s dividend payout ratio is currently 24.14%.

Analysts Set New Price Targets

GGB has been the topic of several analyst reports. UBS Group reduced their target price on Gerdau from $3.30 to $2.90 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. Bank of America reissued a “neutral” rating on shares of Gerdau in a report on Monday, April 7th.

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.