Capital Group Investment Management PTE. LTD. Has $375,000 Stake in Gerdau S.A. (NYSE:GGB)

Capital Group Investment Management PTE. LTD. trimmed its position in shares of Gerdau S.A. (NYSE:GGB) by 54.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,150 shares of the basic materials company’s stock after selling 155,831 shares during the period. Capital Group Investment Management PTE. LTD.’s holdings in Gerdau were worth $375,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wells Fargo & Company MN lifted its position in shares of Gerdau by 9.5% during the 4th 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 during the last quarter. Abacus Wealth Partners LLC increased its position in Gerdau by 34.4% in the 4th quarter. Abacus Wealth Partners LLC now owns 23,076 shares of the basic materials company’s stock worth $66,000 after buying an additional 5,903 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Gerdau by 10.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,116 shares of the basic materials company’s stock worth $204,000 after buying an additional 6,555 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Gerdau by 0.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,032,541 shares of the basic materials company’s stock valued at $2,974,000 after acquiring an additional 7,492 shares during the period. Finally, Private Advisor Group LLC bought a new stake in shares of Gerdau in the fourth quarter valued at approximately $32,000. 1.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Bank of America reiterated a “neutral” rating on shares of Gerdau in a research note on Monday, April 7th. UBS Group began coverage on shares of Gerdau in a research report on Wednesday, March 12th. They set a “neutral” rating for the company.

Gerdau Price Performance

Shares of NYSE:GGB opened at $2.54 on Friday. The business’s 50 day moving average is $2.83 and its 200-day moving average is $3.05. 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 firm has a market capitalization of $5.27 billion, a PE ratio of 5.90 and a beta of 1.37. Gerdau S.A. has a 1-year low of $2.27 and a 1-year high of $4.04.

Gerdau (NYSE:GGB) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Gerdau had a net margin of 7.03% and a return on equity of 7.74%. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.66 billion. Sell-side analysts predict that Gerdau S.A. will post 0.46 earnings per share for the current year.

Gerdau Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.0175 dividend. This represents a $0.07 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Friday, March 7th. Gerdau’s dividend payout ratio (DPR) is presently 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.