Virtus Family Office LLC Acquires 123,911 Shares of Gerdau S.A. $GGB

Virtus Family Office LLC grew its stake in Gerdau S.A. (NYSE:GGB) by 27.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 575,069 shares of the basic materials company’s stock after buying an additional 123,911 shares during the period. Gerdau accounts for about 1.7% of Virtus Family Office LLC’s holdings, making the stock its 18th biggest holding. Virtus Family Office LLC’s holdings in Gerdau were worth $1,783,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of GGB. Inspire Investing LLC boosted its position in shares of Gerdau by 15.3% during the 3rd quarter. Inspire Investing LLC now owns 23,790 shares of the basic materials company’s stock valued at $74,000 after purchasing an additional 3,158 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Gerdau by 7.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 45,679 shares of the basic materials company’s stock valued at $142,000 after buying an additional 3,312 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Gerdau by 68.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,634 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 3,931 shares in the last quarter. Rehmann Capital Advisory Group grew its holdings in Gerdau by 33.7% during the second quarter. Rehmann Capital Advisory Group now owns 16,479 shares of the basic materials company’s stock worth $48,000 after buying an additional 4,155 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Gerdau by 6.9% in the third quarter. Sequoia Financial Advisors LLC now owns 64,735 shares of the basic materials company’s stock valued at $201,000 after purchasing an additional 4,189 shares during the last quarter. Institutional investors and hedge funds own 1.49% of the company’s stock.

Gerdau Stock Performance

Shares of GGB traded up $0.02 during trading hours on Friday, hitting $4.20. The company’s stock had a trading volume of 1,032,191 shares, compared to its average volume of 18,174,113. The business has a 50 day simple moving average of $3.92 and a two-hundred day simple moving average of $3.45. Gerdau S.A. has a 52-week low of $2.27 and a 52-week high of $4.66. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.70 and a quick ratio of 1.47. The company has a market cap of $8.38 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 1.21 and a beta of 1.46.

Analyst Upgrades and Downgrades

GGB has been the subject of several recent analyst reports. Zacks Research raised Gerdau from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Weiss Ratings restated a “hold (c)” rating on shares of Gerdau in a research note on Monday, December 29th. Finally, UBS Group reiterated a “buy” rating and set a $4.60 target price (up from $4.00) on shares of Gerdau in a research note on Monday, December 15th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $4.60.

Gerdau Company Profile

Gerdau SA is a Brazilian-based steel producer engaged in the manufacture and distribution of long steel products for the construction, industrial and agricultural sectors. Established in 1901, the company operates an integrated network of electric-arc furnaces and rolling mills, producing reinforcement bars, wire rod, merchant bars and structural shapes. Gerdau’s product portfolio also includes specialty long steel, high-yield reinforcement, rail, beams and steel coils, as well as value-added processing services such as cutting, bending and coating.

The company has expanded its footprint beyond Brazil, with significant operations in North America, South America and a presence in select European markets.