Wealthfront Advisers LLC Buys New Position in Gerdau S.A. (NYSE:GGB)

Wealthfront Advisers LLC bought a new stake in shares of Gerdau S.A. (NYSE:GGB) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,035 shares of the basic materials company’s stock, valued at approximately $32,000.

Several other large investors have also bought and sold shares of GGB. Caprock Group LLC boosted its stake in Gerdau by 161.9% during the third quarter. Caprock Group LLC now owns 105,013 shares of the basic materials company’s stock valued at $368,000 after buying an additional 64,923 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Gerdau during the third quarter valued at $926,000. West Family Investments Inc. purchased a new stake in shares of Gerdau during the third quarter valued at $85,000. Daiwa Securities Group Inc. lifted its holdings in shares of Gerdau by 6.9% during the third quarter. Daiwa Securities Group Inc. now owns 309,558 shares of the basic materials company’s stock valued at $1,083,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Gerdau in the 3rd quarter worth about $79,000. Institutional investors own 1.49% of the company’s stock.

Analysts Set New Price Targets

Separately, UBS Group started coverage on Gerdau in a research note on Wednesday, March 12th. They issued a “neutral” rating for the company.

Gerdau Stock Up 0.2 %

GGB opened at $3.03 on Wednesday. Gerdau S.A. has a fifty-two week low of $2.67 and a fifty-two week high of $4.04. The business has a 50-day moving average of $2.91 and a 200-day moving average of $3.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53. The company has a market capitalization of $6.29 billion, a PE ratio of 7.03 and a beta of 1.69.

Gerdau (NYSE:GGB) last issued its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.66 billion. Gerdau had a return on equity of 7.74% and a net margin of 7.03%. Equities research analysts forecast that Gerdau S.A. will post 0.46 EPS for the current fiscal year.

Gerdau Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a $0.0175 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Friday, March 7th. Gerdau’s dividend payout ratio (DPR) is currently 13.95%.

About Gerdau

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.