Gerdau SA (GGB) Stake Increased by Two Sigma Advisers LP
Two Sigma Advisers LP lifted its holdings in Gerdau SA (NYSE:GGB) by 161.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,400 shares of the basic materials company’s stock after purchasing an additional 125,100 shares during the quarter. Two Sigma Advisers LP’s holdings in Gerdau were worth $761,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of GGB. GSA Capital Partners LLP purchased a new position in Gerdau in the 4th quarter worth $72,000. First Trust Advisors LP purchased a new position in Gerdau in the 4th quarter worth $92,000. NEXT Financial Group Inc raised its stake in Gerdau by 9.5% in the 4th quarter. NEXT Financial Group Inc now owns 34,500 shares of the basic materials company’s stock worth $130,000 after acquiring an additional 3,000 shares during the last quarter. Virtu Financial LLC raised its stake in Gerdau by 10.5% in the 4th quarter. Virtu Financial LLC now owns 66,014 shares of the basic materials company’s stock worth $248,000 after acquiring an additional 6,253 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in Gerdau by 211.9% in the 3rd quarter. Hsbc Holdings PLC now owns 168,251 shares of the basic materials company’s stock worth $708,000 after acquiring an additional 114,303 shares during the last quarter. 7.44% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on the company. ValuEngine lowered Gerdau from a “sell” rating to a “strong sell” rating in a research note on Saturday. Zacks Investment Research lowered Gerdau from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Finally, Scotiabank upgraded Gerdau from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 18th. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $4.50.
The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were paid a $0.0268 dividend. This is a positive change from Gerdau’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.11 dividend on an annualized basis and a yield of 2.76%. Gerdau’s dividend payout ratio (DPR) is 111.11%.
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Gerdau SA provides steel-related products and services worldwide. It operates through four segments: Brazil Operations, North America Operations, South America Operations, and Special Steel Operations. The company offers semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles, which are used primarily in the construction and manufacturing industries; and drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps, as well as mines and produces iron ore.
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