BlackRock Inc. decreased its holdings in Gerdau SA (NYSE:GGB) by 11.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,335,399 shares of the basic materials company’s stock after selling 921,716 shares during the quarter. BlackRock Inc. owned 0.43% of Gerdau worth $28,535,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. US Bancorp DE boosted its stake in Gerdau by 1,100.6% during the second quarter. US Bancorp DE now owns 11,298 shares of the basic materials company’s stock valued at $45,000 after buying an additional 10,357 shares in the last quarter. Cadence Capital Management LLC acquired a new position in shares of Gerdau in the 2nd quarter valued at $49,000. Wells Fargo & Company MN boosted its position in shares of Gerdau by 2,993.8% in the 2nd quarter. Wells Fargo & Company MN now owns 15,500 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 14,999 shares during the period. NEXT Financial Group Inc boosted its position in shares of Gerdau by 9.5% in the 2nd quarter. NEXT Financial Group Inc now owns 34,500 shares of the basic materials company’s stock valued at $134,000 after purchasing an additional 3,000 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Gerdau by 194.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 54,500 shares of the basic materials company’s stock valued at $212,000 after purchasing an additional 36,000 shares during the period. 8.50% of the stock is owned by institutional investors.

A number of equities analysts recently weighed in on the company. ValuEngine upgraded Gerdau from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. TheStreet lowered Gerdau from a “b-” rating to a “c+” rating in a research report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Gerdau presently has a consensus rating of “Buy” and an average target price of $4.50.

Shares of NYSE:GGB traded down $0.05 during midday trading on Monday, reaching $3.16. The company had a trading volume of 95,156 shares, compared to its average volume of 8,351,516. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.95 and a current ratio of 2.19. Gerdau SA has a 1-year low of $2.73 and a 1-year high of $4.71. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 7.90 and a beta of 1.85. The company has a fifty day simple moving average of $3.08 and a two-hundred day simple moving average of $3.51.

Gerdau (NYSE:GGB) last announced its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Gerdau had a return on equity of 7.97% and a net margin of 4.50%. Analysts expect that Gerdau SA will post 0.26 EPS for the current year.

About Gerdau

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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Institutional Ownership by Quarter for Gerdau (NYSE:GGB)

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