World Asset Management Inc reduced its stake in shares of Gerdau SA (NYSE:GGB) by 40.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,342 shares of the basic materials company’s stock after selling 11,818 shares during the period. World Asset Management Inc’s holdings in Gerdau were worth $65,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Capital Growth Management LP raised its position in shares of Gerdau by 115.1% during the 3rd quarter. Capital Growth Management LP now owns 20,000,000 shares of the basic materials company’s stock worth $84,200,000 after purchasing an additional 10,700,000 shares during the last quarter. Axiom International Investors LLC DE raised its holdings in Gerdau by 13.2% in the 3rd quarter. Axiom International Investors LLC DE now owns 13,096,222 shares of the basic materials company’s stock valued at $55,135,000 after acquiring an additional 1,528,362 shares during the last quarter. Man Group plc raised its holdings in Gerdau by 667.3% in the 3rd quarter. Man Group plc now owns 5,844,833 shares of the basic materials company’s stock valued at $24,607,000 after acquiring an additional 5,083,080 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Gerdau by 112.1% in the 3rd quarter. Fisher Asset Management LLC now owns 4,807,069 shares of the basic materials company’s stock valued at $20,238,000 after acquiring an additional 2,540,235 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Gerdau by 31.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,342,905 shares of the basic materials company’s stock valued at $9,881,000 after acquiring an additional 554,704 shares during the last quarter. Hedge funds and other institutional investors own 5.29% of the company’s stock.

Shares of GGB opened at $4.07 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.42 and a quick ratio of 1.43. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 0.31 and a beta of 1.95. Gerdau SA has a fifty-two week low of $3.37 and a fifty-two week high of $5.32.

Gerdau (NYSE:GGB) last issued its quarterly earnings results on Wednesday, November 7th. The basic materials company reported $0.15 earnings per share for the quarter. The company had revenue of $3.26 billion during the quarter. Gerdau had a return on equity of 9.41% and a net margin of 0.80%. On average, analysts forecast that Gerdau SA will post 0.42 EPS for the current year.

Several research analysts have weighed in on GGB shares. Goldman Sachs Group started coverage on Gerdau in a report on Thursday, December 13th. They issued a “buy” rating for the company. Scotiabank upgraded Gerdau from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 18th. Finally, Zacks Investment Research upgraded Gerdau from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a report on Friday, January 4th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $4.50.

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Gerdau Profile

Gerdau SA engages in the production and commercialization of steel products. It operates throuh the following segments: Brazil Operation, North America Operation, South Africa Operation, and Special Steels Operation. The Brazil Operation segment includes rebar, bars, shapes, drawn products, billets, blooms, slabs, wire rod, structural shapes, and iron ore.

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Institutional Ownership by Quarter for Gerdau (NYSE:GGB)

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