Dynamic Technology Lab Private Ltd Raises Stock Position in Gerdau S.A. (NYSE:GGB)

Dynamic Technology Lab Private Ltd lifted its position in shares of Gerdau S.A. (NYSE:GGB) by 51.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 34,062 shares of the basic materials company’s stock after buying an additional 11,522 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Gerdau were worth $98,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of GGB. Wells Fargo & Company MN boosted its position in Gerdau by 9.5% during the fourth quarter. Wells Fargo & Company MN now owns 53,736 shares of the basic materials company’s stock worth $155,000 after purchasing an additional 4,657 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in shares of Gerdau during the 4th quarter worth $1,631,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Gerdau in the 4th quarter worth about $456,000. Headlands Technologies LLC grew its stake in Gerdau by 544.5% in the 4th quarter. Headlands Technologies LLC now owns 62,138 shares of the basic materials company’s stock valued at $179,000 after acquiring an additional 52,496 shares during the last quarter. Finally, AssuredPartners Investment Advisors LLC purchased a new position in Gerdau during the 4th quarter valued at about $304,000. Institutional investors and hedge funds own 1.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on GGB. Bank of America reiterated a “neutral” rating on shares of Gerdau in a research report on Monday, April 7th. UBS Group assumed coverage on Gerdau in a report on Wednesday, March 12th. They set a “neutral” rating on the stock.

Gerdau Price Performance

NYSE:GGB opened at $2.47 on Friday. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 5.73 and a beta of 1.37. Gerdau S.A. has a 12-month low of $2.27 and a 12-month high of $4.04. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average is $2.86 and its two-hundred day moving average is $3.08.

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

Gerdau Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.0175 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Friday, March 7th. Gerdau’s dividend payout ratio is currently 13.95%.

Gerdau Company Profile

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.