Banco BTG Pactual S.A. Invests $89,000 in Gerdau S.A. (NYSE:GGB)

Banco BTG Pactual S.A. bought a new stake in Gerdau S.A. (NYSE:GGB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,900 shares of the basic materials company’s stock, valued at approximately $89,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. raised its stake in shares of Gerdau by 6.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 309,558 shares of the basic materials company’s stock valued at $1,083,000 after buying an additional 20,000 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Gerdau during the third quarter worth about $79,000. FMR LLC boosted its holdings in Gerdau by 11.1% during the third quarter. FMR LLC now owns 88,979,025 shares of the basic materials company’s stock valued at $311,427,000 after purchasing an additional 8,898,975 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Gerdau in the 3rd quarter valued at approximately $29,750,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Gerdau by 307.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,037,480 shares of the basic materials company’s stock worth $3,631,000 after buying an additional 782,980 shares in the last quarter. 1.49% of the stock is owned by institutional investors.

Gerdau Price Performance

Shares of Gerdau stock opened at $3.04 on Thursday. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 7.06 and a beta of 1.69. The firm’s 50-day moving average price is $2.94 and its two-hundred day moving average price is $3.14. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. Gerdau S.A. has a 1-year low of $2.67 and a 1-year high of $4.04.

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

Gerdau Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.0175 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.07 annualized dividend and a yield of 2.31%. Gerdau’s dividend payout ratio (DPR) is 13.95%.

Wall Street Analysts Forecast Growth

Separately, UBS Group began coverage on Gerdau in a research report on Wednesday, March 12th. They issued a “neutral” rating on the stock.

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.