Fisher Asset Management LLC Sells 83,410 Shares of Gerdau S.A. (NYSE:GGB)

Fisher Asset Management LLC lowered its holdings in Gerdau S.A. (NYSE:GGB) by 12.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 572,984 shares of the basic materials company’s stock after selling 83,410 shares during the quarter. Fisher Asset Management LLC’s holdings in Gerdau were worth $1,650,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GGB. Rehmann Capital Advisory Group acquired a new position in shares of Gerdau during the third quarter valued at about $37,000. Private Advisor Group LLC bought a new position in Gerdau in the 4th quarter valued at about $32,000. HighTower Advisors LLC acquired a new position in Gerdau during the 3rd quarter valued at about $38,000. Zhang Financial LLC bought a new stake in Gerdau during the 4th quarter worth approximately $34,000. Finally, R Squared Ltd purchased a new stake in shares of Gerdau in the fourth quarter worth approximately $36,000. Institutional investors own 1.49% of the company’s stock.

Gerdau Stock Up 3.7 %

Shares of NYSE:GGB opened at $2.92 on Thursday. The business’s 50 day moving average is $2.91 and its 200 day moving average is $3.18. Gerdau S.A. has a 12-month low of $2.67 and a 12-month high of $4.04. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 6.78 and a beta of 1.73. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21.

Gerdau (NYSE:GGB) last posted its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The firm 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%. On average, sell-side analysts forecast that Gerdau S.A. will post 0.46 earnings per share for the current fiscal year.

Gerdau Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a $0.0175 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Friday, March 7th. Gerdau’s payout ratio is 13.95%.

Gerdau 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.